AZZ Inc. Forecasted to Earn FY2017 Earnings of $2.85 Per Share (AZZ)
AZZ Inc. (NYSE:AZZ) – Equities research analysts at DA Davidson reduced their FY2017 EPS estimates for shares of AZZ in a research report issued on Wednesday. DA Davidson analyst B. Thielman now anticipates that the brokerage will post earnings of $2.85 per share for the year, down from their prior estimate of $3.32. DA Davidson has a “Hold” rating and a $55.00 price objective on the stock.
Separately, Zacks Investment Research upgraded AZZ from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Thursday, July 7th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. AZZ currently has a consensus rating of “Hold” and an average target price of $60.00.
AZZ (NYSE:AZZ) traded up 0.83% during trading on Monday, hitting $54.70. The stock had a trading volume of 420,342 shares. The company’s 50-day moving average is $63.96 and its 200 day moving average is $60.35. AZZ has a 52 week low of $47.04 and a 52 week high of $67.98. The firm has a market cap of $1.42 billion, a PE ratio of 20.19 and a beta of 1.34.
AZZ (NYSE:AZZ) last issued its quarterly earnings data on Wednesday, October 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by $0.17. AZZ had a net margin of 7.88% and a return on equity of 15.84%. The firm earned $195 million during the quarter, compared to analyst estimates of $225.43 million. During the same period last year, the business earned $0.67 EPS. The firm’s revenue was down 9.0% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently modified their holdings of AZZ. Advisors Asset Management Inc. increased its position in shares of AZZ by 12.7% in the second quarter. Advisors Asset Management Inc. now owns 1,737 shares of the company’s stock valued at $104,000 after buying an additional 196 shares in the last quarter. BlackRock Inc. increased its position in shares of AZZ by 131.3% in the first quarter. BlackRock Inc. now owns 1,876 shares of the company’s stock valued at $106,000 after buying an additional 1,065 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of AZZ during the second quarter valued at approximately $181,000. PineBridge Investments L.P. increased its position in shares of AZZ by 4.1% in the second quarter. PineBridge Investments L.P. now owns 3,288 shares of the company’s stock valued at $197,000 after buying an additional 131 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in shares of AZZ by 35.0% in the second quarter. Cubist Systematic Strategies LLC now owns 3,434 shares of the company’s stock valued at $206,000 after buying an additional 890 shares in the last quarter. 84.08% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP Timothy E. Pendley sold 1,200 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 30,980 shares of the company’s stock, valued at approximately $1,921,379.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas E. Ferguson acquired 7,500 shares of the business’s stock in a transaction that occurred on Monday, October 10th. The stock was bought at an average cost of $55.24 per share, for a total transaction of $414,300.00. Following the completion of the purchase, the insider now directly owns 29,276 shares in the company, valued at approximately $1,617,206.24. The disclosure for this purchase can be found here. Insiders own 0.01% of the company’s stock.
The company 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 dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.25%. This is a positive change from AZZ’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, October 14th. AZZ’s payout ratio is currently 22.06%.
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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