AZZ (NYSE:AZZ) Issues Quarterly Earnings Results

AZZ (NYSE:AZZ) announced its earnings results on Monday. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.10, Briefing.com reports. AZZ had a net margin of 5.52% and a return on equity of 8.67%. The company had revenue of $289.10 million for the quarter, compared to analysts’ expectations of $277.20 million. During the same quarter in the previous year, the company posted $0.60 EPS. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. AZZ updated its FY 2020 guidance to $2.25-2.75 EPS and its FY20 guidance to $2.25-2.75 EPS.

Shares of AZZ stock opened at $47.08 on Wednesday. The firm’s 50-day moving average price is $44.19. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.30. The firm has a market cap of $1.20 billion, a PE ratio of 24.02 and a beta of 1.44. AZZ has a twelve month low of $37.43 and a twelve month high of $56.05.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Monday, July 22nd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.68 annualized dividend and a dividend yield of 1.44%. AZZ’s payout ratio is 34.69%.

Separately, Zacks Investment Research raised shares of AZZ from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Monday, June 3rd. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $50.33.

AZZ Company Profile

AZZ Inc provides galvanizing and metal coating services, welding solutions, specialty electrical equipment, and highly engineered services to the power generation, transmission, distribution, refining, and industrial markets. The company operates through two segments, Energy Segment and Metal Coatings.

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Earnings History for AZZ (NYSE:AZZ)

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