In the latest close session, AZZ (AZZ) was up +1.07% at $103.82. The stock fell short of the S&P 500, which registered a gain of 1.55% for the day. Meanwhile, the Dow experienced a rise of 0.44%, and the technology-dominated Nasdaq saw an increase of 2.69%.
The electrical equipment maker's stock has climbed by 4.12% in the past month, exceeding the Industrial Products sector's loss of 1.58% and the S&P 500's loss of 1.8%.
The upcoming earnings release of AZZ will be of great interest to investors. On that day, AZZ is projected to report earnings of $1.49 per share, which would represent year-over-year growth of 7.19%. Alongside, our most recent consensus estimate is anticipating revenue of $422.75 million, indicating a 4.73% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.99 per share and revenue of $1.65 billion. These totals would mark changes of +15.19% and +4.26%, respectively, from last year.
Any recent changes to analyst estimates for AZZ should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. AZZ currently has a Zacks Rank of #3 (Hold).
Digging into valuation, AZZ currently has a Forward P/E ratio of 17.16. This expresses a discount compared to the average Forward P/E of 23.99 of its industry.
The Manufacturing - Electronics industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 35, which puts it in the top 15% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 ReportThis article originally published on Zacks Investment Research (zacks.com).
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