AZZ Inc. (AZZ) to Issue Quarterly Dividend of $0.17 on February 20th

AZZ Inc. (NYSE:AZZ) declared a quarterly dividend on Thursday, January 16th,RTT News reports. Shareholders of record on Thursday, January 30th will be given a dividend of 0.17 per share by the industrial products company on Thursday, February 20th. This represents a $0.68 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Thursday, January 30th.

AZZ has a payout ratio of 10.7% indicating that its dividend is sufficiently covered by earnings. Equities research 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 stock opened at $86.89 on Tuesday. The company has a current ratio of 1.77, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85. The company has a 50-day moving average price of $88.13 and a 200 day moving average price of $82.73. AZZ has a 12-month low of $62.02 and a 12-month high of $97.98. The stock has a market cap of $2.60 billion, a P/E ratio of 58.71, a PEG ratio of 1.22 and a beta of 1.30.

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

Analyst Ratings Changes

Separately, Jefferies Financial Group upped their target price on shares of AZZ from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company 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.