Yahoo Finance AZZ (AZZ) Gains As Market Dips: What You Should Know
AZZ (AZZ) closed at $77.25 in the latest trading session, marking a +0.08% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.41%. On the other hand, the Dow registered a loss of 0.12%, and the technology-centric Nasdaq decreased by 0.71%.
Heading into today, shares of the electrical equipment maker had lost 9.68% over the past month, lagging the Industrial Products sector's loss of 4.53% and the S&P 500's gain of 3.53% in that time.
The investment community will be closely monitoring the performance of AZZ in its forthcoming earnings report. The company is scheduled to release its earnings on July 10, 2024. The company is forecasted to report an EPS of $1.31, showcasing a 14.91% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $398.9 million, indicating a 2.05% growth compared to the corresponding quarter of the prior year.
AZZ's full-year Zacks Consensus Estimates are calling for earnings of $4.96 per share and revenue of $1.6 billion. These results would represent year-over-year changes of +9.49% and +3.95%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for AZZ. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.32% increase. AZZ is holding a Zacks Rank of #2 (Buy) right now.
In the context of valuation, AZZ is at present trading with a Forward P/E ratio of 15.56. This indicates a discount in contrast to its industry's Forward P/E of 22.39.
Also, we should mention that AZZ has a PEG ratio of 1.11. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Manufacturing - Electronics stocks are, on average, holding a PEG ratio of 1.88 based on yesterday's closing prices.
The Manufacturing - Electronics industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 19, putting it in the top 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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AZZ Inc. (AZZ): Free Stock Analysis Report
