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

AZZ Inc. (NYSE:AZZ) declared a quarterly dividend on Thursday, January 16th,RTT News reports. Shareholders of record on Thursday, January 30th will be given a dividend of 0.17 per share by the industrial products company on Thursday, February 20th. This represents a $0.68 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Thursday, January 30th.

AZZ has a dividend payout ratio of 10.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect AZZ to earn $5.83 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 11.7%.

AZZ Trading Up 0.4 %

Shares of AZZ stock opened at $86.89 on Tuesday. The company has a market capitalization of $2.60 billion, a P/E ratio of 58.71, a price-to-earnings-growth ratio of 1.22 and a beta of 1.30. The company has a current ratio of 1.77, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85. The business’s 50 day moving average is $88.13 and its two-hundred day moving average is $82.73. AZZ has a twelve month low of $62.02 and a twelve month high of $97.98.

AZZ (NYSE:AZZ) last issued its earnings results on Tuesday, January 7th. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.10. AZZ had a return on equity of 16.99% and a net margin of 7.94%. The business had revenue of $403.65 million during the quarter, compared to the consensus estimate of $394.30 million. During the same period in the prior year, the business posted $1.19 EPS. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities analysts forecast that AZZ will post 5.13 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group lifted their price objective on AZZ from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $96.80.

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.