AZZ Inc. to Issue Quarterly Dividend of $0.17 (NYSE:AZZ)

AZZ Inc. (NYSE:AZZ) announced a quarterly dividend on Thursday, June 27th, NASDAQ reports. Investors of record on Wednesday, July 10th will be given a dividend of 0.17 per share by the industrial products company on Wednesday, July 31st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Wednesday, July 10th.

AZZ has a payout ratio of 11.8% meaning its dividend is sufficiently covered by earnings. Analysts expect AZZ to earn $5.76 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 11.8%.

AZZ Trading Up 0.1 %

AZZ stock traded up $0.08 during midday trading on Friday, reaching $77.27. The company’s stock had a trading volume of 1,353,246 shares, compared to its average volume of 254,169. The business’s 50-day simple moving average is $78.49 and its 200-day simple moving average is $71.01. The company has a quick ratio of 1.28, a current ratio of 1.89 and a debt-to-equity ratio of 1.36. AZZ has a 52 week low of $40.07 and a 52 week high of $86.94. The stock has a market cap of $2.30 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 1.12 and a beta of 1.27.

AZZ (NYSE:AZZ) last announced its quarterly earnings data on Monday, April 22nd. The industrial products company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.23. AZZ had a return on equity of 15.66% and a net margin of 6.61%. The business had revenue of $366.50 million during the quarter, compared to analysts’ expectations of $351.67 million. During the same period in the previous year, the firm earned $0.30 earnings per share. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, sell-side analysts expect that AZZ will post 4.96 EPS for the current year.

Wall Street Analysts Forecast Growth

AZZ has been the subject of a number of analyst reports. StockNews.com cut shares of AZZ from a “buy” rating to a “hold” rating in a report on Tuesday, May 21st. Noble Financial upgraded shares of AZZ from a “market perform” rating to an “outperform” rating and set a $95.00 price objective for the company in a research report on Tuesday, June 11th. B. Riley boosted their target price on AZZ from $67.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Jefferies Financial Group assumed coverage on AZZ in a research report on Monday, May 20th. They set a “buy” rating and a $105.00 price target on the stock. Finally, Evercore ISI initiated coverage on AZZ in a research report on Friday, June 14th. They issued an “outperform” rating and a $90.00 price objective for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.75.

About AZZ

AZZ Inc provides hot-dip galvanizing and coil coating solutions in North America. It offers metal finishing solutions for corrosion protection, including hot-dip galvanizing, spin galvanizing, powder coating, anodizing, and plating to steel fabrication and other industries, as well as to fabricators or manufacturers that provide services to the transmission and distribution, bridge and highway, petrochemical, and general industrial markets; and original equipment manufacturers.