AZZ (NYSE:AZZ) Posts Earnings Results, Beats Estimates By $0.11 EPS

AZZ (NYSE:AZZ) issued its quarterly earnings data on Monday. The industrial products company reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.11, MarketWatch Earnings reports. The firm had revenue of $216.50 million during the quarter, compared to analyst estimates of $217.66 million. AZZ had a return on equity of 11.47% and a net margin of 6.59%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 earnings per share.

Shares of AZZ traded down $0.05 during trading hours on Wednesday, reaching $55.98. 104,049 shares of the company traded hands, compared to its average volume of 125,943. The stock has a market capitalization of $1.40 billion, a P/E ratio of 25.45 and a beta of 1.53. The business has a fifty day moving average price of $52.98 and a 200-day moving average price of $52.66. AZZ has a 12-month low of $32.51 and a 12-month high of $58.59. The company has a quick ratio of 1.79, a current ratio of 2.55 and a debt-to-equity ratio of 0.29.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 2nd. Stockholders of record on Tuesday, October 19th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Monday, October 18th. AZZ’s dividend payout ratio (DPR) is presently 32.23%.

Separately, Zacks Investment Research downgraded shares of AZZ from a “buy” rating to a “hold” rating in a research note on Wednesday, September 15th.

A hedge fund recently raised its stake in AZZ stock. Morgan Stanley boosted its holdings in shares of AZZ Inc. (NYSE:AZZ) by 109.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 147,147 shares of the industrial products company’s stock after acquiring an additional 76,759 shares during the period. Morgan Stanley owned 0.59% of AZZ worth $7,620,000 at the end of the most recent reporting period. 87.60% of the stock is owned by institutional investors.

AZZ Company Profile

AZZ Inc engages in the provision of galvanizing and metal coating solutions, welding solutions, specialty electrical equipment, and highly engineered services to the power generation, transmission, distribution, refining, and industrial markets. It operates through the Metal Coatings and Infrastructure Solutions segments.

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Earnings History for AZZ (NYSE:AZZ)

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