DA Davidson Analysts Lower Earnings Estimates for AZZ Inc. (AZZ)
AZZ Inc. (NYSE:AZZ) – Equities research analysts at DA Davidson lowered their FY2017 earnings estimates for AZZ in a report released on Wednesday. DA Davidson analyst B. Thielman now expects that the brokerage will post earnings per share of $2.85 for the year, down from their previous estimate of $3.32. DA Davidson has a “Hold” rating and a $55.00 price target on the stock.
Separately, Zacks Investment Research lowered AZZ from a “buy” rating to a “hold” rating in a report on Friday, July 8th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. AZZ currently has a consensus rating of “Hold” and a consensus price target of $60.00.
AZZ (NYSE:AZZ) opened at 55.82 on Monday. The stock’s 50 day moving average price is $64.66 and its 200-day moving average price is $60.34. AZZ has a 12-month low of $47.04 and a 12-month high of $67.98. The firm has a market cap of $1.45 billion, a PE ratio of 20.61 and a beta of 1.34.
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AZZ (NYSE:AZZ) last posted its quarterly earnings results on Wednesday, October 5th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by $0.17. AZZ had a return on equity of 15.84% and a net margin of 7.88%. The business had revenue of $195 million for the quarter, compared to analyst estimates of $225.43 million. During the same period last year, the firm posted $0.67 EPS. AZZ’s quarterly revenue was down 9.0% on a year-over-year basis.
Several institutional investors have recently bought and sold shares of the company. Origin Asset Management LLP increased its stake in shares of AZZ by 13.2% in the first quarter. Origin Asset Management LLP now owns 129,075 shares of the company’s stock worth $7,306,000 after buying an additional 15,081 shares during the period. Kennedy Capital Management Inc. increased its stake in shares of AZZ by 0.9% in the first quarter. Kennedy Capital Management Inc. now owns 72,073 shares of the company’s stock worth $4,079,000 after buying an additional 671 shares during the period. Aristotle Capital Boston LLC increased its stake in shares of AZZ by 2.9% in the second quarter. Aristotle Capital Boston LLC now owns 69,388 shares of the company’s stock worth $4,162,000 after buying an additional 1,953 shares during the period. Virginia Retirement System acquired a new stake in shares of AZZ during the first quarter worth about $1,075,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of AZZ by 111.5% in the first quarter. Goldman Sachs Group Inc. now owns 156,409 shares of the company’s stock worth $8,853,000 after buying an additional 82,461 shares during the period. 84.08% of the stock is owned by hedge funds and other institutional investors.
In other news, SVP Timothy E. Pendley sold 1,200 shares of the firm’s stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $62.02, for a total value of $74,424.00. Following the completion of the transaction, the senior vice president now directly owns 30,980 shares of the company’s stock, valued at $1,921,379.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Wallace P. Eisman purchased 1,000 shares of the business’s stock in a transaction dated Friday, July 15th. The stock was bought at an average cost of $62.27 per share, with a total value of $62,270.00. Following the completion of the acquisition, the director now directly owns 4,641 shares of the company’s stock, valued at $288,995.07. The disclosure for this purchase can be found here. 0.01% of the stock is owned by insiders.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Tuesday, October 18th will be issued a $0.17 dividend. This is a positive change from AZZ’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Friday, October 14th. AZZ’s dividend payout ratio (DPR) is presently 22.06%.
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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