AZZ Inc. (AZZ) to Post Q3 2017 Earnings of $0.94 Per Share, DA Davidson Forecasts
AZZ Inc. (NYSE:AZZ) – Equities research analysts at DA Davidson dropped their Q3 2017 EPS estimates for shares of AZZ in a report issued on Wednesday. DA Davidson analyst B. Thielman now forecasts that the brokerage will post earnings per share of $0.94 for the quarter, down from their prior forecast of $1.03. DA Davidson currently has a “Hold” rating and a $55.00 target price on the stock. DA Davidson also issued estimates for AZZ’s Q4 2017 earnings at $0.72 EPS, FY2018 earnings at $3.48 EPS and FY2019 earnings at $3.80 EPS.
Separately, Zacks Investment Research downgraded AZZ from a “buy” rating to a “hold” rating in a report on Friday, July 8th. Five analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and an average price target of $60.00.
AZZ (NYSE:AZZ) traded down 1.39% on Friday, reaching $57.50. The company’s stock had a trading volume of 216,627 shares. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 19.17 and a beta of 1.34. AZZ has a 12-month low of $47.04 and a 12-month high of $67.98. The firm has a 50-day moving average of $64.96 and a 200 day moving average of $60.35.
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AZZ (NYSE:AZZ) last posted its quarterly earnings results on Wednesday, October 5th. The company reported $0.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by $0.17. AZZ had a return on equity of 15.84% and a net margin of 7.88%. The business earned $195 million during the quarter, compared to the consensus estimate of $225.43 million. During the same quarter in the previous year, the company earned $0.67 earnings per share. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Tuesday, October 18th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, October 14th. This represents a $0.68 dividend on an annualized basis and a yield of 1.17%. This is an increase from AZZ’s previous quarterly dividend of $0.15. AZZ’s payout ratio is currently 22.06%.
In other AZZ news, Director Wallace P. Eisman bought 1,000 shares of AZZ stock in a transaction on Friday, July 15th. The shares were bought at an average price of $62.27 per share, for a total transaction of $62,270.00. Following the completion of the transaction, the director now directly owns 4,641 shares of the company’s stock, valued at $288,995.07. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Timothy E. Pendley sold 1,200 shares of AZZ stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $62.02, for a total value of $74,424.00. Following the completion of the sale, the senior vice president now owns 30,980 shares in the company, valued at approximately $1,921,379.60. The disclosure for this sale can be found here. 0.01% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. increased its stake in AZZ by 12.7% in the second quarter. Advisors Asset Management Inc. now owns 1,737 shares of the company’s stock worth $104,000 after buying an additional 196 shares in the last quarter. BlackRock Inc. increased its stake in AZZ by 131.3% in the first quarter. BlackRock Inc. now owns 1,876 shares of the company’s stock worth $106,000 after buying an additional 1,065 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in AZZ during the second quarter worth approximately $181,000. PineBridge Investments L.P. increased its stake in AZZ by 4.1% in the second quarter. PineBridge Investments L.P. now owns 3,288 shares of the company’s stock worth $197,000 after buying an additional 131 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in AZZ by 35.0% in the second quarter. Cubist Systematic Strategies LLC now owns 3,434 shares of the company’s stock worth $206,000 after buying an additional 890 shares in the last quarter. Institutional investors own 84.08% of the company’s stock.
AZZ Company Profile
AZZ Inc is a provider of galvanizing services, welding solutions, specialty electrical equipment and engineered services to the power generation, transmission, distribution, refining and industrial markets. The Company operates through two segments: Energy segment and Galvanizing segment. Its Energy segment provides products and services designed to support industrial, nuclear and electrical applications.
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