AZZ (NYSE:AZZ) Updates FY22 Earnings Guidance

AZZ (NYSE:AZZ) updated its FY22 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.90-3.20 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.03. The company issued revenue guidance of $865-925 million, compared to the consensus revenue estimate of $924.20 million.AZZ also updated its FY 2022 guidance to $2.900-$3.200 EPS.

Separately, Zacks Investment Research downgraded shares of AZZ from a buy rating to a hold rating in a research note on Wednesday, September 15th.

AZZ stock opened at $55.98 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.79 and a current ratio of 2.55. AZZ has a 52-week low of $32.51 and a 52-week high of $58.59. The firm has a 50 day moving average price of $52.98 and a two-hundred day moving average price of $52.66. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 25.45 and a beta of 1.53.

AZZ (NYSE:AZZ) last released its quarterly earnings results on Monday, October 11th. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.11. AZZ had a net margin of 6.59% and a return on equity of 11.47%. The firm had revenue of $216.50 million during the quarter, compared to analyst estimates of $217.66 million. During the same quarter last year, the business earned $0.49 EPS. The company’s revenue was up 6.4% compared to the same quarter last year. As a group, equities research analysts predict that AZZ will post 3.04 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 2nd. Shareholders of record on Tuesday, October 19th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, October 18th. This represents a $0.68 annualized dividend and a yield of 1.21%. AZZ’s payout ratio is 32.23%.

An institutional investor recently raised its position in AZZ stock. Morgan Stanley increased its stake in AZZ Inc. (NYSE:AZZ) by 109.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,147 shares of the industrial products company’s stock after acquiring an additional 76,759 shares during the quarter. Morgan Stanley owned 0.59% of AZZ worth $7,620,000 at the end of the most recent reporting period. 87.60% of the stock is owned by hedge funds and other institutional investors.

AZZ Company Profile

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.

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