AZZ Inc. Expected to Post Q2 2024 Earnings of $0.82 Per Share (NYSE:AZZ)

AZZ Inc. (NYSE:AZZ) – Equities research analysts at B. Riley issued their Q2 2024 EPS estimates for shares of AZZ in a research report issued to clients and investors on Tuesday, August 29th. B. Riley analyst L. Pipes expects that the industrial products company will post earnings of $0.82 per share for the quarter. B. Riley has a “Buy” rating and a $64.00 price target on the stock. The consensus estimate for AZZ’s current full-year earnings is $3.96 per share. B. Riley also issued estimates for AZZ’s Q3 2024 earnings at $0.98 EPS, Q4 2024 earnings at $0.91 EPS, FY2024 earnings at $3.85 EPS, Q1 2025 earnings at $0.95 EPS, Q2 2025 earnings at $0.96 EPS, Q3 2025 earnings at $1.35 EPS, Q4 2025 earnings at $1.41 EPS and FY2025 earnings at $4.67 EPS.

A number of other equities analysts have also weighed in on the stock. Noble Financial initiated coverage on shares of AZZ in a report on Monday, August 21st. They issued an “outperform” rating and a $60.00 price target on the stock. TheStreet raised AZZ from a “c+” rating to a “b-” rating in a research note on Monday, July 10th. Finally, StockNews.com started coverage on shares of AZZ in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.25.

AZZ Price Performance

Shares of NYSE:AZZ opened at $48.95 on Friday. The company has a market cap of $1.22 billion, a P/E ratio of -24.48 and a beta of 1.32. The business has a fifty day simple moving average of $45.04 and a 200-day simple moving average of $40.97. AZZ has a 52 week low of $30.21 and a 52 week high of $50.86. The company has a quick ratio of 1.46, a current ratio of 2.27 and a debt-to-equity ratio of 1.19.

AZZ (NYSE:AZZ) last announced its earnings results on Monday, July 10th. The industrial products company reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). The firm had revenue of $390.87 million for the quarter, compared to analyst estimates of $396.65 million. AZZ had a positive return on equity of 11.93% and a negative net margin of 3.22%. The firm’s revenue was up 88.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.40 EPS.

Institutional Trading of AZZ

Several large investors have recently bought and sold shares of AZZ. Norges Bank purchased a new position in shares of AZZ in the fourth quarter valued at $13,921,000. Millennium Management LLC raised its position in shares of AZZ by 208.4% in the 2nd quarter. Millennium Management LLC now owns 322,282 shares of the industrial products company’s stock valued at $13,156,000 after purchasing an additional 217,776 shares in the last quarter. Kennedy Capital Management LLC boosted its stake in shares of AZZ by 108.5% during the 2nd quarter. Kennedy Capital Management LLC now owns 206,019 shares of the industrial products company’s stock valued at $8,954,000 after buying an additional 107,230 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of AZZ by 104.8% in the first quarter. Goldman Sachs Group Inc. now owns 170,258 shares of the industrial products company’s stock worth $8,214,000 after buying an additional 87,111 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in AZZ by 7.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,243,000 shares of the industrial products company’s stock valued at $59,963,000 after acquiring an additional 85,083 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

AZZ Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Wednesday, July 12th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend was Tuesday, July 11th. AZZ’s dividend payout ratio (DPR) is presently -34.00%.

AZZ Company Profile

AZZ Inc provides hot-dip galvanizing and coil coating solutions in the United States, Canada, Brazil, China, the Netherlands, Poland, Singapore, and India. The company operates through AZZ Metal Coatings and AZZ Precoat Metals segments. The AZZ Metal Coatings segment offers metal finishing solutions for corrosion protection, including hot-dip galvanizing, spin galvanizing, powder coating, anodizing, and plating to steel fabrication and other industries.