Noble Financial Has Positive Outlook for AZZ FY2029 Earnings

Key Points

• Noble Financial raised its FY2029 EPS estimate for AZZ to $7.55 (from $7.38) and kept an "Outperform" rating; that compares with the consensus full-year estimate of $6.82 and Noble also projects FY2030 EPS of $7.87.
• AZZ recently beat quarterly expectations with $1.34 EPS (vs. $1.19 expected) and revenue up 9.4% year-over-year, and the company announced a $0.20 quarterly dividend plus a $100 million share buyback program (about 2.7% of shares outstanding).

AZZ Inc. (NYSE:AZZ - Free Report) - Research analysts at Noble Financial raised their FY2029 EPS estimates for AZZ in a report released on Friday, April 24th. Noble Financial analyst M. Reichman now expects that the industrial products company will post earnings per share of $7.55 for the year, up from their previous forecast of $7.38. Noble Financial has a "Outperform" rating on the stock. The consensus estimate for AZZ's current full-year earnings is $6.82 per share. Noble Financial also issued estimates for AZZ's FY2030 earnings at $7.87 EPS.

A number of other research firms have also recently weighed in on AZZ. Wells Fargo & Company cut shares of AZZ from an "overweight" rating to an "equal weight" rating and raised their price objective for the stock from $127.00 to $132.00 in a report on Monday, March 2nd. B. Riley Financial raised their price objective on shares of AZZ from $167.00 to $169.00 and gave the stock a "buy" rating in a report on Friday. Wall Street Zen raised shares of AZZ from a "hold" rating to a "buy" rating in a report on Saturday, January 10th. Evercore reissued an "outperform" rating and set a $152.00 price objective on shares of AZZ in a report on Monday. Finally, Robert W. Baird raised their price objective on shares of AZZ from $125.00 to $155.00 and gave the stock a "neutral" rating in a report on Friday. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $141.80.

AZZ Stock Up 1.0%

AZZ stock opened at $144.77 on Tuesday. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 0.36. AZZ has a twelve month low of $84.52 and a twelve month high of $147.32. The company's 50 day moving average is $130.76 and its two-hundred day moving average is $117.91. The stock has a market cap of $4.33 billion, a P/E ratio of 13.79 and a beta of 1.15.

AZZ (NYSE:AZZ - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The industrial products company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.15. The firm had revenue of $385.10 million for the quarter, compared to analysts' expectations of $382.24 million. AZZ had a net margin of 19.23% and a return on equity of 14.47%. The firm's revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 earnings per share. AZZ has set its FY 2027 guidance at 6.500-7.000 EPS.

AZZ Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Thursday, April 23rd will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, April 23rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.6%. AZZ's dividend payout ratio (DPR) is 7.62%.

AZZ announced that its Board of Directors has approved a stock repurchase program on Friday, January 30th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling

In other news, CEO Thomas E. Ferguson sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $127.29, for a total transaction of $3,182,250.00. Following the transaction, the chief executive officer directly owned 158,182 shares in the company, valued at approximately $20,134,986.78. This trade represents a 13.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Tara D. Mackey sold 2,923 shares of the firm's stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $136.00, for a total transaction of $397,528.00. Following the transaction, the insider owned 22,373 shares in the company, valued at approximately $3,042,728. This trade represents a 11.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.77% of the company's stock.

Hedge Funds Weigh In On AZZ

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in shares of AZZ by 9.7% during the 3rd quarter. Principal Financial Group Inc. now owns 162,812 shares of the industrial products company's stock worth $17,768,000 after purchasing an additional 14,430 shares in the last quarter. AlphaQuest LLC purchased a new stake in shares of AZZ during the 3rd quarter worth $1,032,000. Robeco Schweiz AG purchased a new stake in shares of AZZ during the 3rd quarter worth $4,365,000. Capital International Investors boosted its position in shares of AZZ by 8.7% during the 3rd quarter. Capital International Investors now owns 1,961,247 shares of the industrial products company's stock worth $214,031,000 after purchasing an additional 157,529 shares in the last quarter. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of AZZ during the 4th quarter worth $2,120,000. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

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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