AZZ (NYSE:AZZ) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS

AZZ (NYSE:AZZ) released its quarterly earnings results on Sunday. The industrial products company reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.03, MarketWatch Earnings reports. The company had revenue of $231.70 million during the quarter, compared to analyst estimates of $245.30 million. AZZ had a return on equity of 12.39% and a net margin of 8.89%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.80 earnings per share.

Shares of NYSE AZZ opened at $53.38 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.77 and a quick ratio of 1.89. The company has a market cap of $1.33 billion, a P/E ratio of 17.62 and a beta of 1.38. AZZ has a 1 year low of $46.55 and a 1 year high of $58.59. The firm has a 50-day simple moving average of $54.66 and a two-hundred day simple moving average of $53.48.

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

An institutional investor recently raised its position in AZZ stock. Morgan Stanley increased its holdings in AZZ Inc. (NYSE:AZZ) by 109.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 147,147 shares of the industrial products company’s stock after buying an additional 76,759 shares during the period. Morgan Stanley owned about 0.59% of AZZ worth $7,620,000 as of its most recent filing with the Securities & Exchange Commission. 87.97% 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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Earnings History for AZZ (NYSE:AZZ)

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