In the latest close session, AZZ (AZZ) was up +1.84% at $105.82. This change outpaced the S&P 500's 0.3% gain on the day. Elsewhere, the Dow saw an upswing of 0.86%, while the tech-heavy Nasdaq appreciated by 0.17%.
The electrical equipment maker's stock has climbed by 3.68% in the past month, exceeding the Industrial Products sector's loss of 0.68% and the S&P 500's loss of 0.06%.
Market participants will be closely following the financial results of AZZ in its upcoming release. The company's earnings per share (EPS) are projected to be $1.47, reflecting a 5.76% increase from the same quarter last year. 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.
For the full year, the Zacks Consensus Estimates project earnings of $6.05 per share and a revenue of $1.65 billion, demonstrating changes of +16.35% and +3.31%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for AZZ. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
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.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.09% higher. AZZ currently has a Zacks Rank of #3 (Hold).
With respect to valuation, AZZ is currently being traded at a Forward P/E ratio of 17.17. This valuation marks a discount compared to its industry average Forward P/E of 24.84.
The Manufacturing - Electronics industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 39, putting it in the top 16% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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AZZ Inc. (AZZ): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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