AZZ Inc. (NYSE:AZZ) Declares $0.17 Quarterly Dividend

AZZ Inc. (NYSE:AZZ) declared a quarterly dividend on Thursday, June 27th, NASDAQ reports. Shareholders of record on Wednesday, July 10th will be paid 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 yield of 0.89%. The ex-dividend date of this dividend is Wednesday, July 10th.

AZZ has a payout ratio of 11.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect AZZ to earn $5.51 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 12.3%.

AZZ Stock Up 0.8 %

Shares of NYSE AZZ opened at $76.34 on Tuesday. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 22.26, a PEG ratio of 1.09 and a beta of 1.25. The company has a quick ratio of 1.28, a current ratio of 1.89 and a debt-to-equity ratio of 1.36. The firm’s fifty day moving average is $78.49 and its 200 day moving average is $72.38. AZZ has a 52 week low of $40.07 and a 52 week high of $86.94.

AZZ (NYSE:AZZ) last announced its earnings results on Monday, April 22nd. The industrial products company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.23. The company had revenue of $366.50 million during the quarter, compared to the consensus estimate of $351.67 million. AZZ had a return on equity of 15.66% and a net margin of 6.61%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 earnings per share. On average, equities research analysts expect that AZZ will post 4.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

AZZ Company Profile

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.