AZZ (NYSE:AZZ) Issues FY 2022 Earnings Guidance

AZZ (NYSE:AZZ) updated its FY 2022 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.900-$3.200 for the period, compared to the Thomson Reuters consensus estimate of $3.030. The company issued revenue guidance of $865 million-$925 million, compared to the consensus revenue estimate of $924.20 million.AZZ also updated its FY22 guidance to $2.90-3.20 EPS.

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

Shares of NYSE AZZ opened at $55.98 on Thursday. The firm’s 50-day moving average is $52.98 and its 200-day moving average is $52.66. AZZ has a 1 year low of $32.51 and a 1 year high of $58.59. The firm has a market capitalization of $1.40 billion, a PE ratio of 25.45 and a beta of 1.53. The company has a current ratio of 2.55, a quick ratio of 1.79 and a debt-to-equity ratio of 0.29.

AZZ (NYSE:AZZ) last announced its earnings results on Monday, October 11th. The industrial products company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.65 by $0.11. AZZ had a net margin of 6.59% and a return on equity of 11.47%. The firm had revenue of $216.50 million for the quarter, compared to the consensus estimate of $217.66 million. During the same period last year, the company posted $0.49 EPS. The business’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, equities research analysts anticipate that AZZ will post 3.04 earnings per share for the current fiscal year.

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

A hedge fund recently raised its stake in AZZ stock. Morgan Stanley grew its holdings in shares of AZZ Inc. (NYSE:AZZ) by 109.1% in the 2nd quarter, according to the company in its most recent disclosure 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 quarter. Morgan Stanley owned 0.59% of AZZ worth $7,620,000 at the end of the most recent quarter. Institutional investors own 87.60% of the company’s stock.

About AZZ

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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