AZZ (AZZ) Releases Quarterly Earnings Results, Misses Expectations By $0.12 EPS

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AZZ (NYSE:AZZ) posted 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 business had revenue of $202.50 million during 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%. AZZ’s quarterly 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.

NYSE AZZ traded down $1.21 during trading on Monday, reaching $44.35. The company’s stock had a trading volume of 177,368 shares, compared to its average volume of 119,618. The company has a quick ratio of 1.97, a current ratio of 2.87 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $1.19 billion, a P/E ratio of 32.85 and a beta of 1.42. AZZ has a 12 month low of $37.43 and a 12 month high of $56.05.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Tuesday, April 23rd. AZZ’s dividend payout ratio is currently 50.37%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC boosted its holdings in AZZ by 6.2% in the 1st quarter. FMR LLC now owns 716,433 shares of the industrial products company’s stock valued at $29,324,000 after purchasing an additional 41,567 shares during the period. BlueMountain Capital Management LLC boosted its holdings 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 valued at $348,000 after purchasing an additional 5,190 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new stake in AZZ in the 1st quarter valued at about $2,500,000. SEI Investments Co boosted its holdings in AZZ by 16.4% in the 1st quarter. SEI Investments Co now owns 57,161 shares of the industrial products company’s stock valued at $2,340,000 after purchasing an additional 8,072 shares during the period. Finally, Oxford Asset Management LLP bought a new stake in AZZ in the 1st quarter valued at about $1,210,000. 88.39% of the stock is owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research raised shares of AZZ from a “sell” rating to a “hold” rating in a report on Monday, March 18th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $55.33.

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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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Earnings History for AZZ (NYSE:AZZ)

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