Zacks: AZZ Inc. (AZZ) Receives Average Recommendation of “Hold” from Analysts
Shares of AZZ Inc. (NYSE:AZZ) have received a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating.
Analysts have set a one year consensus price target of $52.00 for the company and are forecasting that the company will post $0.62 earnings per share for the current quarter, according to Zacks. Zacks has also assigned AZZ an industry rank of 206 out of 265 based on the ratings given to related companies.
Several research firms recently issued reports on AZZ. Stifel Nicolaus decreased their target price on AZZ from $56.00 to $52.00 and set a “hold” rating on the stock in a research note on Wednesday, September 27th. BidaskClub lowered AZZ from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 19th. Zacks Investment Research lowered AZZ from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 28th. Finally, TheStreet lowered AZZ from a “b” rating to a “c+” rating in a research note on Friday, July 7th.
Shares of AZZ (AZZ) traded down $1.00 during trading on Friday, hitting $46.25. The stock had a trading volume of 76,647 shares, compared to its average volume of 123,457. AZZ has a twelve month low of $44.80 and a twelve month high of $67.70. The firm has a market cap of $1,200.70, a price-to-earnings ratio of 23.48 and a beta of 1.56. The company has a current ratio of 2.57, a quick ratio of 1.43 and a debt-to-equity ratio of 0.53.
AZZ (NYSE:AZZ) last posted its earnings results on Tuesday, October 3rd. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.09). AZZ had a return on equity of 9.65% and a net margin of 6.27%. The firm had revenue of $190.40 million for the quarter, compared to analyst estimates of $193.70 million. During the same period in the previous year, the company posted $0.55 EPS. AZZ’s revenue was down 2.4% on a year-over-year basis. research analysts expect that AZZ will post 1.99 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Wednesday, October 18th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, October 17th. This represents a $0.68 annualized dividend and a yield of 1.47%. AZZ’s dividend payout ratio (DPR) is 34.52%.
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A number of hedge funds and other institutional investors have recently modified their holdings of the business. Pinebridge Investments L.P. increased its holdings in AZZ by 1.3% during the 2nd quarter. Pinebridge Investments L.P. now owns 3,431 shares of the industrial products company’s stock worth $191,000 after purchasing an additional 45 shares during the period. Arizona State Retirement System increased its holdings in AZZ by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 13,616 shares of the industrial products company’s stock worth $760,000 after purchasing an additional 100 shares during the period. Amalgamated Bank increased its holdings in AZZ by 4.9% during the 2nd quarter. Amalgamated Bank now owns 3,595 shares of the industrial products company’s stock worth $201,000 after purchasing an additional 167 shares during the period. Wells Fargo & Company MN increased its holdings in AZZ by 1.0% during the 2nd quarter. Wells Fargo & Company MN now owns 19,626 shares of the industrial products company’s stock worth $1,095,000 after purchasing an additional 197 shares during the period. Finally, Texas Permanent School Fund increased its holdings in shares of AZZ by 1.2% in the 2nd quarter. Texas Permanent School Fund now owns 19,013 shares of the industrial products company’s stock valued at $1,061,000 after acquiring an additional 222 shares during the last quarter. Institutional investors own 85.06% 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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