AZZ Inc. (AZZ) Issues Earnings Results, Misses Expectations By $0.09 EPS
AZZ Inc. (NYSE:AZZ) posted its earnings results on Tuesday. The industrial products company reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.09), MarketWatch Earnings reports. AZZ had a net margin of 6.44% and a return on equity of 10.98%. The business had revenue of $190.40 million for the quarter, compared to analyst estimates of $193.70 million. During the same quarter last year, the business earned $0.55 earnings per share. AZZ’s revenue was down 2.4% on a year-over-year basis. AZZ updated its FY18 guidance to $1.80-2.30 EPS.
AZZ (NYSE AZZ) opened at 48.05 on Wednesday. The stock has a 50 day moving average of $48.77 and a 200 day moving average of $53.52. AZZ has a 1-year low of $44.80 and a 1-year high of $67.70. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 23.66 and a beta of 1.52.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Wednesday, October 18th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Tuesday, October 17th. AZZ’s dividend payout ratio is presently 33.50%.
A number of research firms have weighed in on AZZ. BidaskClub lowered AZZ from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Zacks Investment Research raised shares of AZZ from a “sell” rating to a “hold” rating in a report on Tuesday, September 5th. TheStreet cut shares of AZZ from a “b” rating to a “c+” rating in a research report on Friday, July 7th. Finally, Stifel Nicolaus reduced their target price on shares of AZZ from $58.00 to $56.00 and set a “hold” rating for the company in a research report on Friday, July 7th.
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In related news, CFO Paul Wesley Fehlman acquired 1,500 shares of AZZ stock in a transaction on Tuesday, July 11th. The shares were bought at an average price of $49.31 per share, for a total transaction of $73,965.00. Following the completion of the purchase, the chief financial officer now directly owns 9,287 shares in the company, valued at approximately $457,941.97. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas E. Ferguson acquired 5,000 shares of AZZ stock in a transaction on Tuesday, July 11th. The shares were bought at an average price of $49.59 per share, for a total transaction of $247,950.00. Following the purchase, the insider now owns 49,037 shares of the company’s stock, valued at $2,431,744.83. The disclosure for this purchase can be found here. 0.01% of the stock is currently owned by corporate insiders.
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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