AZZ (NYSE:AZZ) Issues Quarterly Earnings Results

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

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

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 2nd. Shareholders 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 of this dividend is Monday, October 18th. AZZ’s dividend payout ratio (DPR) is 32.23%.

An institutional investor recently raised its position in AZZ stock. Morgan Stanley grew its holdings in shares of AZZ Inc. (NYSE:AZZ) by 109.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 147,147 shares of the industrial products company’s stock after buying an additional 76,759 shares during the period. Morgan Stanley owned 0.59% of AZZ worth $7,620,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 87.60% of the stock is currently owned by hedge funds and other institutional investors.

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

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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Earnings History for AZZ (NYSE:AZZ)

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