Noble Financial Has Bullish Outlook for AZZ FY2030 Earnings

Key Points

• Noble Financial raised its FY2030 EPS estimate for AZZ to $8.20 from $7.87, well above the current consensus estimate of $6.85, signaling a more bullish long-term outlook.
• AZZ beat on its latest quarterly results, reporting EPS of $1.85 versus $1.80 expected and revenue of $448.53 million versus $434.58 million projected, with revenue up 6.3% year over year.
• The company also increased its dividend to $0.24 per share from $0.20, while analysts overall maintain a Moderate Buy rating and an average price target of $155.25.

AZZ Inc. (NYSE:AZZ - Free Report) - Equities research analysts at Noble Financial boosted their FY2030 earnings per share (EPS) estimates for AZZ in a research report issued to clients and investors on Friday, July 10th. Noble Financial analyst M. Reichman now forecasts that the industrial products company will post earnings per share of $8.20 for the year, up from their previous forecast of $7.87. The consensus estimate for AZZ's current full-year earnings is $6.85 per share.

AZZ (NYSE:AZZ - Get Free Report) last announced its earnings results on Wednesday, July 8th. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.80 by $0.05. AZZ had a return on equity of 14.18% and a net margin of 11.83%.The business had revenue of $448.53 million for the quarter, compared to analyst estimates of $434.58 million. During the same period in the previous year, the company earned $1.78 earnings per share. The company's revenue for the quarter was up 6.3% compared to the same quarter last year. AZZ has set its FY 2027 guidance at 6.750-7.150 EPS.

Other equities analysts have also issued reports about the company. Wall Street Zen lowered AZZ from a "buy" rating to a "hold" rating in a research report on Sunday. Robert W. Baird lifted their price target on shares of AZZ from $125.00 to $155.00 and gave the stock a "neutral" rating in a research note on Friday, April 24th. Weiss Ratings cut shares of AZZ from a "buy (b+)" rating to a "buy (b)" rating in a report on Thursday. B. Riley Financial raised their price objective on shares of AZZ from $169.00 to $170.00 and gave the stock a "buy" rating in a report on Monday. Finally, Wells Fargo & Company increased their price target on shares of AZZ from $138.00 to $144.00 and gave the stock an "equal weight" rating in a research report on Friday. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $155.25.

AZZ Price Performance

Shares of NYSE AZZ opened at $146.43 on Tuesday. The company has a quick ratio of 1.39, a current ratio of 1.92 and a debt-to-equity ratio of 0.35. AZZ has a fifty-two week low of $92.98 and a fifty-two week high of $162.20. The business has a 50 day moving average price of $145.76 and a two-hundred day moving average price of $133.87. The firm has a market cap of $4.40 billion, a PE ratio of 22.32 and a beta of 1.11.

AZZ Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Thursday, July 9th will be paid a dividend of $0.24 per share. The ex-dividend date is Thursday, July 9th. This is a positive change from AZZ's previous quarterly dividend of $0.20. This represents a $0.96 annualized dividend and a yield of 0.7%. AZZ's payout ratio is presently 14.63%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Contravisory Investment Management Inc. grew its position in shares of AZZ by 3.7% during the 2nd quarter. Contravisory Investment Management Inc. now owns 2,723 shares of the industrial products company's stock valued at $422,000 after buying an additional 97 shares during the last quarter. Harbor Investment Advisory LLC acquired a new position in AZZ in the second quarter valued at approximately $67,000. Janus Henderson Group PLC grew its holdings in shares of AZZ by 162.1% during the first quarter. Janus Henderson Group PLC now owns 88,273 shares of the industrial products company's stock valued at $11,047,000 after purchasing an additional 54,590 shares during the last quarter. Smith Group Asset Management LLC raised its position in shares of AZZ by 11.1% during the 1st quarter. Smith Group Asset Management LLC now owns 29,221 shares of the industrial products company's stock worth $3,656,000 after purchasing an additional 2,931 shares during the period. Finally, Amundi raised its position in shares of AZZ by 61.1% during the 1st quarter. Amundi now owns 10,547 shares of the industrial products company's stock worth $1,320,000 after purchasing an additional 4,002 shares during the period. 90.93% of the stock is owned by institutional investors and hedge funds.

About AZZ

AZZ Inc, incorporated in 1956 and headquartered in Fort Worth, Texas, is a leading provider of galvanizing and metal finishing solutions alongside electrical equipment and services. The company supports a diverse range of industries—such as energy, infrastructure, heavy equipment and general industrial markets—by delivering corrosion protection and high-performance electrical solutions designed for demanding environments.

AZZ operates two primary business segments. The Global Coatings & Services segment offers hot-dip galvanizing, metal finishing, painting, powder coating and related value-added services to steel fabricators and original equipment manufacturers.

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