AZZ Inc. to Issue Quarterly Dividend of $0.17 (NYSE:AZZ)

AZZ Inc. (NYSE:AZZ) announced a quarterly dividend on Thursday, January 16th,RTT News reports. Shareholders of record on Thursday, January 30th will be paid a dividend of 0.17 per share by the industrial products company on Thursday, February 20th. This represents a $0.68 dividend on an annualized basis and a yield of 0.78%.

AZZ has a dividend payout ratio of 10.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect AZZ to earn $5.83 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 11.7%.

AZZ Price Performance

AZZ opened at $87.30 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.32 and a debt-to-equity ratio of 0.85. The business’s fifty day simple moving average is $87.68 and its 200-day simple moving average is $82.11. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 58.99, a PEG ratio of 1.19 and a beta of 1.30. AZZ has a 12-month low of $56.87 and a 12-month high of $97.98.

AZZ (NYSE:AZZ) last issued its earnings results on Tuesday, January 7th. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.10. AZZ had a net margin of 7.94% and a return on equity of 16.99%. The company had revenue of $403.65 million for the quarter, compared to analysts’ expectations of $394.30 million. During the same period in the prior year, the business earned $1.19 EPS. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. On average, equities research analysts anticipate that AZZ will post 5.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Jefferies Financial Group upped their target price on AZZ from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $96.80.

About AZZ

AZZ Inc provides hot-dip galvanizing and coil coating solutions in North America. It offers metal finishing solutions for corrosion protection, including hot-dip galvanizing, spin galvanizing, powder coating, anodizing, and plating to steel fabrication and other industries, as well as to fabricators or manufacturers that provide services to the transmission and distribution, bridge and highway, petrochemical, and general industrial markets; and original equipment manufacturers.