AZZ (NYSE:AZZ) Issues Quarterly Earnings Results

AZZ (NYSE:AZZ) posted its earnings results on Sunday. The industrial products company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03, MarketWatch Earnings reports. The firm had revenue of $231.70 million for the quarter, compared to analysts’ expectations of $245.30 million. AZZ had a net margin of 8.89% and a return on equity of 12.39%. The company’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 earnings per share.

Shares of AZZ stock opened at $53.38 on Tuesday. The company has a quick ratio of 1.89, a current ratio of 2.77 and a debt-to-equity ratio of 0.29. AZZ has a twelve month low of $46.55 and a twelve month high of $58.59. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 17.62 and a beta of 1.38. The company’s fifty day moving average is $54.66 and its 200 day moving average is $53.48.

A hedge fund recently raised its stake in AZZ stock. Morgan Stanley increased its holdings in AZZ Inc. (NYSE:AZZ) by 109.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 147,147 shares of the industrial products company’s stock after purchasing 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 reporting period. Institutional investors and hedge funds own 87.97% of the company’s stock.

Separately, Zacks Investment Research cut shares of AZZ from a “buy” rating to a “hold” rating in a research note on Wednesday, December 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.

See Also: Dividend

Earnings History for AZZ (NYSE:AZZ)

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