AZZ Inc. (AZZ) Updates Q3 Earnings Guidance
AZZ Inc. (NYSE:AZZ) updated its third quarter earnings guidance on Friday. The company provided earnings per share guidance of $0.65-0.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.95, American Banking News reports. The company issued revenue guidance of $210-230 million, compared to the consensus revenue estimate of $251.04 million.AZZ also updated its FY14 guidance to $2.45-2.65 EPS.
A number of analysts have recently weighed in on AZZ shares. Analysts at Zacks upgraded shares of AZZ (NYSE:AZZ) from an underperform rating to a neutral rating in a research note to investors on Monday, September 2nd. They now have a $38.50 price target on the stock.
Shares of AZZ Inc. (NYSE:AZZ) opened at 43.11 on Friday. AZZ Inc. has a 1-year low of $34.61 and a 1-year high of $49.10. The stock’s 50-day moving average is $39.4 and its 200-day moving average is $41.39. The company has a market cap of $1.098 billion and a price-to-earnings ratio of 18.66.
AZZ (NYSE:AZZ) last issued its quarterly earnings data on Friday, September 27th. The company reported $0.57 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.66 by $0.09. The company had revenue of $189.80 million for the quarter, compared to the consensus estimate of $202.83 million. During the same quarter last year, the company posted $0.62 earnings per share. AZZ’s revenue was up 23.7% compared to the same quarter last year. Analysts expect that AZZ Inc. will post $2.83 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 25th. Shareholders of record on Friday, October 11th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.30%.
AZZ incorporated is an electrical equipment and components manufacturer, serving the global markets of power generation, transmission and distribution, and the general industrial markets, and a provider of hot dip galvanizing services to the North American steel fabrication market.
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