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

AZZ Inc. (NYSE:AZZ) announced a quarterly dividend on Thursday, October 3rd, Zacks reports. Investors 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 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, October 18th.

AZZ has a payout ratio of 12.0% indicating that 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

Shares of NYSE AZZ opened at $80.89 on Thursday. The firm’s 50-day simple moving average is $79.32 and its 200 day simple moving average is $78.84. 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 stock has a market cap of $2.41 billion, a P/E ratio of 75.60, a P/E/G ratio of 1.18 and a beta of 1.23. AZZ has a fifty-two week low of $44.83 and a fifty-two week high of $88.67.

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, beating analysts’ consensus estimates of $1.32 by $0.05. The firm had revenue of $409.01 million during the quarter, compared to analyst estimates of $409.50 million. AZZ had a return on equity of 18.19% and a net margin of 7.63%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the company posted $1.27 EPS. Equities analysts expect that AZZ will post 4.95 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AZZ shares. Robert W. Baird assumed coverage on AZZ in a report on Tuesday, July 23rd. They issued a “neutral” rating and a $90.00 price target on the stock. Baird R W upgraded shares of AZZ to a “hold” rating in a report on Tuesday, July 23rd. B. Riley upped their target price on AZZ from $89.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Wolfe Research initiated coverage on shares of AZZ in a research note on Wednesday, July 31st. They set a “peer perform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently 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.