AZZ Inc. (AZZ) Issues FY18 Earnings Guidance
AZZ Inc. (NYSE:AZZ) issued an update on its FY18 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.80-2.30 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.99. The company issued revenue guidance of $825-885 million, compared to the consensus revenue estimate of $830.53 million.
AZZ has been the topic of several recent analyst reports. Stifel Nicolaus lowered their price objective on shares of AZZ from $56.00 to $52.00 and set a hold rating on the stock in a research note on Wednesday, September 27th. Zacks Investment Research cut AZZ from a hold rating to a strong sell rating in a research report on Thursday, September 28th. BidaskClub downgraded AZZ from a sell rating to a strong sell rating in a research note on Saturday, August 19th. Finally, TheStreet downgraded AZZ from a b rating to a c+ rating in a research note on Friday, July 7th.
AZZ Inc. (AZZ) opened at 50.20 on Tuesday. The stock’s 50 day moving average price is $48.81 and its 200-day moving average price is $53.60. AZZ Inc. has a 52 week low of $44.80 and a 52 week high of $67.70. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 24.72 and a beta of 1.52.
AZZ (NYSE:AZZ) last posted its quarterly earnings data on Thursday, July 6th. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.19). The company had revenue of $208.60 million for the quarter, compared to analysts’ expectations of $225.08 million. AZZ had a return on equity of 10.98% and a net margin of 6.44%. The business’s quarterly revenue was down 14.1% on a year-over-year basis. During the same quarter last year, the business posted $0.81 EPS. On average, equities research analysts forecast that AZZ Inc. will post $2.20 earnings per share for the current fiscal year.
In related news, CFO Paul Wesley Fehlman purchased 1,500 shares of the stock in a transaction that occurred on Tuesday, July 11th. The shares were bought at an average price of $49.31 per share, with a total value of $73,965.00. Following the acquisition, the chief financial officer now owns 9,287 shares of the company’s stock, valued at approximately $457,941.97. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas E. Ferguson acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 11th. The stock was purchased at an average price of $49.59 per share, for a total transaction of $247,950.00. Following the purchase, the insider now owns 49,037 shares of the company’s stock, valued at approximately $2,431,744.83. The disclosure for this purchase can be found here. Company insiders own 0.01% of the company’s stock.
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AZZ Inc is a provider of galvanizing services, welding solutions, specialty electrical equipment and engineered services to the power generation, transmission, distribution, refining and industrial markets. The Company operates through two segments: Energy segment and Galvanizing segment. Its Energy segment provides products and services designed to support industrial, nuclear and electrical applications.
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