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

AZZ Inc. (NYSE:AZZ) declared a quarterly dividend on Thursday, January 16th,RTT News reports. Investors 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 annualized dividend 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. Equities 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 Stock Up 0.4 %

Shares of NYSE:AZZ opened at $87.61 on Friday. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 59.20, a price-to-earnings-growth ratio of 1.19 and a beta of 1.30. The company has a 50 day moving average of $87.74 and a two-hundred day moving average of $82.19. AZZ has a 52-week low of $57.16 and a 52-week high of $97.98. The company has a quick ratio of 1.32, a current ratio of 1.77 and a debt-to-equity ratio of 0.85.

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

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group boosted their price target on AZZ from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Four 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, AZZ currently has a consensus rating of “Moderate Buy” and an average price target of $96.80.

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.