AZZ (NYSE:AZZ) Updates FY22 Earnings Guidance

AZZ (NYSE:AZZ) issued an update on its FY22 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $2.90-3.20 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.03. The company issued revenue guidance of $865-925 million, compared to the consensus revenue estimate of $924.20 million.AZZ also updated its FY 2022 guidance to $2.900-$3.200 EPS.

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

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

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 2nd. Investors 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 yield of 1.21%. The ex-dividend date is Monday, October 18th. AZZ’s dividend payout ratio is currently 32.23%.

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

An institutional investor recently raised its position in AZZ stock. Morgan Stanley grew its stake in AZZ Inc. (NYSE:AZZ) by 109.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 147,147 shares of the industrial products company’s stock after buying 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 reporting period. 87.60% of the stock is currently owned by institutional investors and hedge funds.

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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