AZZ (AZZ) Posts Earnings Results, Misses Estimates By $0.12 EPS
AZZ (NYSE:AZZ) announced its quarterly earnings data on Monday. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.12), Briefing.com reports. The company had revenue of $202.50 million for the quarter, compared to the consensus estimate of $223.29 million. AZZ had a net margin of 7.12% and a return on equity of 7.98%. The company’s revenue was up .9% on a year-over-year basis. AZZ updated its FY 2020 guidance to $2.25-2.75 EPS and its FY20 guidance to $2.25-2.75 EPS.
AZZ stock traded down $1.21 during midday trading on Monday, hitting $44.35. The company’s stock had a trading volume of 177,368 shares, compared to its average volume of 119,618. AZZ has a 12 month low of $37.43 and a 12 month high of $56.05. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.87 and a quick ratio of 1.97. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 32.85 and a beta of 1.42.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th were paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, April 23rd. This represents a $0.68 annualized dividend and a yield of 1.53%. AZZ’s payout ratio is 50.37%.
A number of hedge funds have recently bought and sold shares of the business. FMR LLC boosted its stake in AZZ by 6.2% in the 1st quarter. FMR LLC now owns 716,433 shares of the industrial products company’s stock worth $29,324,000 after purchasing an additional 41,567 shares during the period. BlueMountain Capital Management LLC boosted its stake in AZZ by 157.2% in the 1st quarter. BlueMountain Capital Management LLC now owns 8,492 shares of the industrial products company’s stock worth $348,000 after purchasing an additional 5,190 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new position in AZZ in the 1st quarter worth approximately $2,500,000. SEI Investments Co boosted its stake in AZZ by 16.4% in the 1st quarter. SEI Investments Co now owns 57,161 shares of the industrial products company’s stock worth $2,340,000 after purchasing an additional 8,072 shares during the period. Finally, Oxford Asset Management LLP purchased a new stake in shares of AZZ during the 1st quarter worth approximately $1,210,000. Institutional investors and hedge funds own 88.39% of the company’s stock.
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AZZ Company Profile
AZZ Inc provides galvanizing and metal coating services, welding solutions, specialty electrical equipment, and highly engineered services to the power generation, transmission, distribution, refining, and industrial markets. The company operates through two segments, Energy Segment and Metal Coatings.
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