AZZ (AZZ) ended the recent trading session at $115.55, demonstrating a -1.18% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.21%. On the other hand, the Dow registered a gain of 0.25%, and the technology-centric Nasdaq increased by 0.45%.
Heading into today, shares of the electrical equipment maker had gained 6.06% over the past month, outpacing the Industrial Products sector's gain of 0.52% and the S&P 500's gain of 3.07%.
Market participants will be closely following the financial results of AZZ in its upcoming release. The company's upcoming EPS is projected at $1.56, signifying a 13.87% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $430.77 million, indicating a 5.32% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $6.01 per share and revenue of $1.67 billion, indicating changes of +15.58% and +5.11%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for AZZ. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. AZZ is currently a Zacks Rank #3 (Hold).
In the context of valuation, AZZ is at present trading with a Forward P/E ratio of 19.46. This represents a discount compared to its industry average Forward P/E of 23.59.
The Manufacturing - Electronics industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 155, this industry ranks in the bottom 38% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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AZZ Inc. (AZZ): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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