AZZ (NYSE:AZZ) Releases FY 2022 Earnings Guidance

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AZZ (NYSE:AZZ) updated its FY 2022 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 2.450-2.950 for the period, compared to the Thomson Reuters consensus estimate of $2.670. The company issued revenue guidance of $835 million-$935 million, compared to the consensus revenue estimate of $925.03 million.

Several research analysts have recently weighed in on AZZ shares. Zacks Investment Research upgraded shares of AZZ from a hold rating to a buy rating and set a $60.00 target price for the company in a research note on Friday, April 23rd. TheStreet upgraded AZZ from a c rating to a b- rating in a research note on Wednesday, January 13th. Finally, Sidoti cut AZZ from a buy rating to a neutral rating and set a $50.00 price target on the stock. in a research note on Thursday, January 7th.

NYSE AZZ traded up $0.20 on Tuesday, hitting $53.44. 4,987 shares of the stock traded hands, compared to its average volume of 137,597. The company has a current ratio of 2.63, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29. The stock has a 50-day moving average of $51.65 and a 200 day moving average of $47.16. AZZ has a twelve month low of $26.04 and a twelve month high of $56.74. The company has a market capitalization of $1.34 billion, a P/E ratio of 108.76 and a beta of 1.56.

AZZ (NYSE:AZZ) last issued its quarterly earnings results on Thursday, April 22nd. The industrial products company reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.05. The business had revenue of $195.60 million during the quarter, compared to the consensus estimate of $212.67 million. AZZ had a return on equity of 8.20% and a net margin of 1.44%. The business’s quarterly revenue was down 20.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 EPS. As a group, equities research analysts expect that AZZ will post 1.81 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 11th. Stockholders of record on Tuesday, April 27th will be issued a dividend of $0.17 per share. The ex-dividend date is Monday, April 26th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.27%. AZZ’s dividend payout ratio (DPR) is presently 25.09%.

In related news, insider Tara D. Mackey sold 1,000 shares of the stock in a transaction dated Monday, February 22nd. The shares were sold at an average price of $51.35, for a total value of $51,350.00. Also, CEO Thomas E. Ferguson sold 3,421 shares of the firm’s stock in a transaction dated Thursday, February 4th. The shares were sold at an average price of $50.27, for a total transaction of $171,973.67. Insiders sold a total of 8,973 shares of company stock valued at $452,599 over the last three months. Corporate insiders own 1.65% of the company’s stock.

About AZZ

AZZ Inc provides galvanizing and metal coating solutions, welding solutions, specialty electrical equipment, and engineered services to the power generation, transmission, distribution, refining, and industrial markets in the United States and Canada. The company operates through two segments, Energy and Metal Coatings.

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