AZZ (NYSE:AZZ) Issues Quarterly Earnings Results, Beats Expectations By $0.11 EPS

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

NYSE:AZZ opened at $56.03 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.55 and a quick ratio of 1.79. AZZ has a 1 year low of $32.51 and a 1 year high of $58.59. The stock’s 50 day simple moving average is $52.90 and its two-hundred day simple moving average is $52.64. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 25.47 and a beta of 1.53.

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

A hedge fund recently raised its stake in AZZ stock. Morgan Stanley lifted its stake in AZZ Inc. (NYSE:AZZ) by 109.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 147,147 shares of the industrial products company’s stock after purchasing an additional 76,759 shares during the quarter. Morgan Stanley owned about 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 and hedge funds.

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

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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Earnings History for AZZ (NYSE:AZZ)

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