AZZ (NYSE:AZZ) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

AZZ (NYSE:AZZ) released its quarterly earnings data on Wednesday. The industrial products company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.05, Briefing.com reports. AZZ had a net margin of 7.22% and a return on equity of 17.08%. The company had revenue of $409.01 million for the quarter, compared to analyst estimates of $409.50 million. During the same period in the previous year, the business earned $1.27 EPS. AZZ’s revenue for the quarter was up 2.6% compared to the same quarter last year. AZZ updated its FY25 guidance to $4.70-5.10 EPS and its FY 2025 guidance to 4.700-5.100 EPS.

AZZ Stock Performance

NYSE:AZZ traded up $0.91 during mid-day trading on Wednesday, reaching $81.57. 237,866 shares of the company’s stock were exchanged, compared to its average volume of 236,529. AZZ has a one year low of $44.83 and a one year high of $88.67. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 1.89. The business’s fifty day simple moving average is $78.77 and its two-hundred day simple moving average is $78.73. The firm has a market capitalization of $2.43 billion, a PE ratio of 76.23, a price-to-earnings-growth ratio of 1.18 and a beta of 1.23.

AZZ Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.83%. AZZ’s payout ratio is presently 63.55%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. B. Riley raised their price objective on AZZ from $89.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Wolfe Research initiated coverage on AZZ in a report on Wednesday, July 31st. They set a “peer perform” rating for the company. Noble Financial upgraded shares of AZZ from a “market perform” rating to an “outperform” rating and set a $95.00 price objective on the stock in a report on Tuesday, June 11th. Robert W. Baird assumed coverage on shares of AZZ in a research report on Tuesday, July 23rd. They issued a “neutral” rating and a $90.00 price objective on the stock. Finally, Evercore ISI started coverage on shares of AZZ in a report on Friday, June 14th. They set an “outperform” rating and a $90.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $95.80.

Insider Buying and Selling at AZZ

In other news, COO Bryan Lee Stovall sold 14,545 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $84.79, for a total transaction of $1,233,270.55. Following the transaction, the chief operating officer now directly owns 20,000 shares of the company’s stock, valued at approximately $1,695,800. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AZZ news, insider Tara D. Mackey sold 331 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $83.50, for a total transaction of $27,638.50. Following the sale, the insider now directly owns 34,229 shares in the company, valued at $2,858,121.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Bryan Lee Stovall sold 14,545 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $84.79, for a total transaction of $1,233,270.55. Following the completion of the transaction, the chief operating officer now owns 20,000 shares of the company’s stock, valued at $1,695,800. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

About AZZ

AZZ Inc provides hot-dip galvanizing and coil coating solutions in North America. It offers metal finishing solutions for corrosion protection, including hot-dip galvanizing, spin galvanizing, powder coating, anodizing, and plating to steel fabrication and other industries, as well as to fabricators or manufacturers that provide services to the transmission and distribution, bridge and highway, petrochemical, and general industrial markets; and original equipment manufacturers.