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

AZZ Inc. (NYSE:AZZ) announced 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 0.88%. The ex-dividend date is Wednesday, July 10th.

AZZ has a payout ratio of 11.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Up 0.1 %

Shares of AZZ stock traded up $0.08 during midday trading on Friday, hitting $77.27. The company had a trading volume of 1,353,246 shares, compared to its average volume of 254,169. The company has a 50 day moving average of $78.49 and a 200 day moving average of $71.01. The stock has a market capitalization of $2.30 billion, a P/E ratio of 22.53, a P/E/G ratio of 1.12 and a beta of 1.27. AZZ has a 52-week low of $40.07 and a 52-week high of $86.94. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 1.89.

AZZ (NYSE:AZZ) last released its quarterly earnings data on Monday, April 22nd. The industrial products company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.23. AZZ had a net margin of 6.61% and a return on equity of 15.66%. The business had revenue of $366.50 million during the quarter, compared to analyst estimates of $351.67 million. During the same period last year, the business earned $0.30 EPS. AZZ’s revenue was up 8.9% compared to the same quarter last year. On average, equities analysts predict that AZZ will post 4.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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