AZZ (NYSE:AZZ) Announces Earnings Results, Beats Estimates By $0.11 EPS

AZZ (NYSE:AZZ) issued its quarterly earnings data on Tuesday. The industrial products company reported $0.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.11, MarketWatch Earnings reports. The business had revenue of $216.50 million during the quarter, compared to analyst estimates of $217.66 million. AZZ had a net margin of 6.59% and a return on equity of 11.47%. AZZ’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the business posted $0.49 earnings per share. AZZ updated its FY 2022 guidance to $2.900-$3.200 EPS and its FY22 guidance to $2.90-3.20 EPS.

Shares of NYSE:AZZ opened at $56.03 on Wednesday. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 25.47 and a beta of 1.53. The company has a current ratio of 2.55, a quick ratio of 1.79 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average price of $52.90 and a 200 day moving average price of $52.64. AZZ has a 12 month low of $32.51 and a 12 month high of $58.59.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 2nd. Stockholders of record on Tuesday, October 19th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, October 18th. This represents a $0.68 annualized dividend and a dividend yield of 1.21%. AZZ’s dividend payout ratio (DPR) is 32.23%.

An institutional investor recently raised its position in AZZ stock. Morgan Stanley lifted its position in shares of AZZ Inc. (NYSE:AZZ) by 109.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 147,147 shares of the industrial products company’s stock after buying an additional 76,759 shares during the quarter. Morgan Stanley owned approximately 0.59% of AZZ worth $7,620,000 at the end of the most recent quarter. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research downgraded shares of AZZ from a “buy” rating to a “hold” rating in a research report on Wednesday, September 15th.

About AZZ

AZZ Inc engages in the provision of galvanizing and metal coating solutions, welding solutions, specialty electrical equipment, and highly engineered services to the power generation, transmission, distribution, refining, and industrial markets. It operates through the Metal Coatings and Infrastructure Solutions segments.

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Earnings History for AZZ (NYSE:AZZ)

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