Zacks Downgrades AZZ to Underperform (AZZ)
AZZ (NYSE:AZZ) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Tuesday, ARN reports. They currently have a $38.90 price objective on the stock. Zacks‘ price objective points to a potential downside of 3.47% from the company’s current price.
Shares of AZZ (NYSE:AZZ) traded down 1.56% during mid-day trading on Tuesday, hitting $40.30. The stock had a trading volume of 253,551 shares. AZZ has a 52 week low of $34.61 and a 52 week high of $49.10. The stock’s 50-day moving average is $40.35 and its 200-day moving average is $40.96. The company has a market cap of $1.028 billion and a price-to-earnings ratio of 17.65.
AZZ (NYSE:AZZ) last posted its quarterly earnings results on Friday, September 27th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted $0.62 earnings per share. The company’s revenue for the quarter was up 23.7% on a year-over-year basis. On average, analysts predict that AZZ will post $2.49 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 25th. Investors 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 1.39%. The ex-dividend date is Wednesday, October 9th.
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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