B. Riley Weighs in on AZZ Inc.’s Q2 2024 Earnings (NYSE:AZZ)

AZZ Inc. (NYSE:AZZ) – Research analysts at B. Riley issued their Q2 2024 earnings per share estimates for AZZ in a research report issued on Tuesday, August 29th. B. Riley analyst L. Pipes anticipates that the industrial products company will earn $0.82 per share for the quarter. B. Riley currently has a “Buy” rating and a $64.00 target price 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.

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

A number of other research firms also recently weighed in on AZZ. Noble Financial started coverage on AZZ in a research note on Monday, August 21st. They issued an “outperform” rating and a $60.00 price target on the stock. StockNews.com assumed coverage on shares of AZZ in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Finally, TheStreet upgraded shares of AZZ from a “c+” rating to a “b-” rating in a research note on Monday, July 10th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, AZZ presently has an average rating of “Moderate Buy” and a consensus target price of $55.25.

AZZ Stock Down 0.3 %

AZZ stock opened at $48.95 on Friday. The stock has a market capitalization of $1.22 billion, a PE ratio of -24.48 and a beta of 1.32. The company has a fifty day moving average of $45.04 and a 200-day moving average of $40.97. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.46 and a current ratio of 2.27. AZZ has a one year low of $30.21 and a one year high of $50.86.

AZZ Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AZZ. State of Wyoming acquired a new stake in AZZ in the 4th quarter valued at $29,000. Tower Research Capital LLC TRC lifted its position in AZZ by 557.7% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,848 shares of the industrial products company’s stock worth $76,000 after acquiring an additional 1,567 shares in the last quarter. Quantbot Technologies LP acquired a new position in AZZ during the 2nd quarter worth approximately $93,000. Captrust Financial Advisors boosted its holdings in AZZ by 31.5% in the 1st quarter. Captrust Financial Advisors now owns 2,431 shares of the industrial products company’s stock worth $117,000 after acquiring an additional 583 shares during the period. Finally, UBS Group AG grew its position in AZZ by 44.1% in the third quarter. UBS Group AG now owns 3,538 shares of the industrial products company’s stock valued at $129,000 after acquiring an additional 1,083 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

About AZZ

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.