Research Analysts Set Expectations for AZZ Inc.’s FY2017 Earnings (AZZ)
AZZ Inc. (NYSE:AZZ) – DA Davidson decreased their FY2017 earnings per share estimates for shares of AZZ in a research note issued to investors on Wednesday. DA Davidson analyst B. Thielman now expects that the brokerage will earn $2.85 per share for the year, down from their prior estimate of $3.32. DA Davidson has a “Hold” rating and a $55.00 price target on the stock.
Separately, Zacks Investment Research lowered AZZ from a “hold” rating to a “strong sell” rating in a report on Friday. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $60.00.
Shares of AZZ (NYSE:AZZ) traded down 0.47% during mid-day trading on Monday, hitting $55.20. 80,777 shares of the stock traded hands. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 20.38 and a beta of 1.34. AZZ has a 52 week low of $47.04 and a 52 week high of $67.98. The firm’s 50-day moving average is $64.31 and its 200-day moving average is $60.39.
AZZ (NYSE:AZZ) last released its earnings results on Wednesday, October 5th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by $0.17. The firm had revenue of $195 million for the quarter, compared to analyst estimates of $225.43 million. AZZ had a net margin of 7.88% and a return on equity of 15.84%. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.67 EPS.
A number of hedge funds have recently added to or reduced their stakes in AZZ. BNP Paribas Arbitrage SA increased its stake in AZZ by 99.8% in the second quarter. BNP Paribas Arbitrage SA now owns 8,826 shares of the company’s stock worth $529,000 after buying an additional 4,409 shares during the last quarter. Origin Asset Management LLP increased its stake in AZZ by 13.2% in the first quarter. Origin Asset Management LLP now owns 129,075 shares of the company’s stock worth $7,306,000 after buying an additional 15,081 shares during the last quarter. Panagora Asset Management Inc. increased its stake in AZZ by 1.7% in the first quarter. Panagora Asset Management Inc. now owns 132,151 shares of the company’s stock worth $7,480,000 after buying an additional 2,205 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in AZZ during the first quarter worth $651,000. Finally, Kennedy Capital Management Inc. increased its stake in AZZ by 0.9% in the first quarter. Kennedy Capital Management Inc. now owns 72,073 shares of the company’s stock worth $4,079,000 after buying an additional 671 shares during the last quarter. Institutional investors own 84.08% of the company’s stock.
In related news, SVP Timothy E. Pendley sold 1,200 shares of the business’s stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $62.02, for a total value of $74,424.00. Following the completion of the sale, the senior vice president now owns 30,980 shares in the company, valued at approximately $1,921,379.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Wallace P. Eisman bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The stock was purchased at an average price of $62.27 per share, with a total value of $62,270.00. Following the transaction, the director now directly owns 4,641 shares in the company, valued at $288,995.07. The disclosure for this purchase can be found here. Insiders own 0.01% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Tuesday, October 18th will be issued a dividend of $0.17 per share. This is a positive change from AZZ’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, October 14th. This represents a $0.68 annualized dividend and a dividend yield of 1.23%. AZZ’s payout ratio is presently 22.06%.
AZZ Company Profile
AZZ Inc is a provider of galvanizing services, welding solutions, specialty electrical equipment and engineered services to the power generation, transmission, distribution, refining and industrial markets. The Company operates through two segments: Energy segment and Galvanizing segment. Its Energy segment provides products and services designed to support industrial, nuclear and electrical applications.
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