AZZ, a leading provider of electrical equipment and services, has garnered positive attention from research analysts in recent reports. StockNews.com initiated coverage on the stock on August 17th and assigned it a “hold” rating. TheStreet also upgraded AZZ’s rating from a “c+” to a “b-” on July 10th. Furthermore, Noble Financial joined the chorus of praise by giving AZZ an “outperform” rating with a target price of $60.00 on August 21st.
With two analysts issuing a hold rating and three giving a buy rating, AZZ has been considered favorably overall. According to data from Bloomberg, there is currently a consensus rating of “Moderate Buy” for the company, along with an average target price of $55.25.
Additionally, AZZ recently announced its quarterly dividend payment which was made on July 26th to shareholders who were recorded as of July 12th. Each shareholder received $0.17 per share in dividends. Based on this payout, AZZ’s annualized dividend amounts to $0.68 per share, resulting in a yield of 1.38%. Notably, the company’s dividend payout ratio (DPR) stands at -34% presently.
As for its stock performance, NYSE-listed AZZ opened at $49.12 on Friday, September 4th. The company boasts a market capitalization of $1.23 billion and exhibits a P/E ratio of -24.56 along with a beta value of 1.32 – emphasizing its volatility compared to the overall market.
Over the past year, AZZ’s shares have fluctuated between their lowest point at $30.21 and their highest point at $50.86 within a 52-week period since September 4th . Currently, the company maintains a debt-to-equity ratio of 1.19 as well as an adequate quick ratio of 1.46 and a current ratio of 2.27.
The stock’s moving averages further showcase its performance. AZZ has a 50-day moving average price of $44.68 and a 200-day moving average price of $40.86.
In conclusion, AZZ has garnered positive ratings from analysts, with two analysts endorsing the hold rating and three giving it a buy rating. The company’s dividend payment and low dividend payout ratio also offer an attractive investment opportunity. Trading within the range of $30.21 to $50.86, AZZ exhibits fluctuations but retains strong market capitalization as well as favourable financial ratios, making it an intriguing prospect for investors to consider on September 4th, 2023.
Updated on: 07/12/2023
Debt to equity ratio: Buy
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
6:00 PM (UTC)
Date:04 December, 2023
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B. Riley Analysts Issue Q2 2024 Earnings Estimates, Investors Show Confidence in AZZ Inc.
In a recent research report, analysts at B. Riley have issued their Q2 2024 earnings estimates for shares of AZZ Inc. (NYSE:AZZ), an industrial products company. According to B. Riley analyst L. Pipes, the company is expected to post earnings of $0.82 per share for the quarter.
B. Riley has given a “Buy” rating and set a price objective of $64.00 on the stock, indicating confidence in its performance. The consensus estimate for AZZ’s current full-year earnings stands at $3.96 per share.
Looking ahead, B. Riley also provided estimates for various future quarters, including Q3 2024 with estimated earnings of $0.98 EPS and Q4 2024 with estimated earnings of $0.91 EPS. The projected overall FY2024 earnings are expected to be $3.85 EPS.
Moving into 2025, B. Riley forecasts Q1 earnings at $0.95 EPS, followed by Q2 at $0.96 EPS, and Q3 with an anticipated stellar performance of $1.35 EPS in terms of earnings per share for each respective quarter mentioned so far.
As we approach the end of 2025, the report predicts an impressive booster ending to the fiscal year with projected Q4 earnings reaching $1.41 EPS and thereby helping to bring the overall FY2025 earnings to an impressive level of $4.67 EPS.
On July 26th, AZZ disclosed that it paid out a quarterly dividend to its shareholders as planned and announced earlier on July 12th following its investor cutoff date on July 11th when shares were trading ex-dividend status from then onwards until paid out during dividends roundups.
With an annualized basis yield amounting to what might seem modest by earning rates but potentially cumulatively large given steady payouts; this calculated metric comes down -34% to a DPR (Dividend Payout Ratio) against inclusion into forward dividends income.
The latest quarterly earnings results were announced on July 10th, with AZZ reporting $1.14 EPS for the quarter. Missing the consensus estimates of analysts by only $0.02, it’s worth noting that this is still an impressive figure considering that the firm had revenue of approximately $390.87 million during the same period, underperforming analysts’ projections slightly from roughly $396.65 million.
Comparisons to the prior year are also illustrative, with revenue notably growing 88.7% YoY, reflecting positive momentum for growth and expansion in terms of business operations.
During this past reported quarter as previously mentioned above, AZZ achieved a positive return on equity of 11.93%. However, it’s important to highlight that their net margin debt exhibited -3.22% in negative figures.
Turning attention to investment trends within AZZ Inc., recent modifications have been observed among large investors who hold positions in the company’s shares.
One notable example is State of Wyoming which acquired a new position totalling about $29,000 in shares of AZZ back during Q4 2022 concluding last calendar year.
Furthermore, Tower Research Capital LLC TRC boosted its position during early Q1 performance within this year by acquiring additional 1,567 shares valued at approximately $76,000, which was viewed as significant progress leading off initially since they owned only 1,848 shares previously stated based on data retrievals encompassed over time designated analyses conducted by B.Riley
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Another investor, Quantbot Technologies LP, entered into a new position during the second quarter of CY 2023 estimated worth about $93,000.
Then there was Captrust Financial Advisors, who boosted their position by 31.5% in the first quarter alone by acquiring an additional 583 shares valued at an estimated $117,000 based on institutional investors’ records.
Lastly, UBS Group AG took notice and increased its stake by 44.1% within Q3 of 2023 to own now almost quadruple holdings with approximately close to $129,000 worth of AZZ shares versus its previous tally forming part toward what constitutes the company overall assets base.
These modifications among institutional shareholders show that large investors are taking note of AZZ’s potential and are capitalizing on possible growth opportunities presented by the industrial products company. As these investors adjust their holdings accordingly and fine-tune their positions within respective portfolios towards what they