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

AZZ Inc. (NYSE:AZZ) declared a quarterly dividend on Thursday, October 3rd, Zacks reports. Stockholders of record on Friday, October 18th will be given a dividend of 0.17 per share by the industrial products company on Friday, November 1st. This represents a $0.68 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, October 18th.

AZZ has a dividend payout ratio of 12.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect AZZ to earn $5.68 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 12.0%.

AZZ Price Performance

AZZ opened at $80.89 on Thursday. The stock’s 50-day moving average price is $79.32 and its 200 day moving average price is $78.84. AZZ has a 12-month low of $44.83 and a 12-month high of $88.67. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 75.60, a PEG ratio of 1.18 and a beta of 1.23. The company has a current ratio of 1.89, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36.

AZZ (NYSE:AZZ) last issued its quarterly earnings results on Wednesday, October 9th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.05. AZZ had a net margin of 7.63% and a return on equity of 18.19%. The company had revenue of $409.01 million for the quarter, compared to analyst estimates of $409.50 million. During the same period in the prior year, the firm earned $1.27 earnings per share. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, sell-side analysts expect that AZZ will post 4.95 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AZZ shares. Wolfe Research began coverage on shares of AZZ in a research note on Wednesday, July 31st. They issued a “peer perform” rating for the company. Baird R W raised AZZ to a “hold” rating in a research note on Tuesday, July 23rd. B. Riley increased their price target on AZZ from $89.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Robert W. Baird assumed coverage on AZZ in a research note on Tuesday, July 23rd. They issued a “neutral” rating and a $90.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $95.80.

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.