AZZ (AZZ) closed the latest trading day at $89.93, indicating a -1.46% change from the previous session's end. The stock's performance was behind the S&P 500's daily loss of 0.56%. Elsewhere, the Dow lost 0.58%, while the tech-heavy Nasdaq lost 0.51%.
Shares of the electrical equipment maker witnessed a gain of 3.54% over the previous month, trailing the performance of the Industrial Products sector with its gain of 9.95% and the S&P 500's gain of 7.37%.
Investors will be eagerly watching for the performance of AZZ in its upcoming earnings disclosure. The company is forecasted to report an EPS of $1.56, showcasing a 6.85% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $440.52 million, indicating a 6.61% growth compared to the corresponding quarter of the prior year.
AZZ's full-year Zacks Consensus Estimates are calling for earnings of $5.71 per share and revenue of $1.69 billion. These results would represent year-over-year changes of +9.81% and +7.26%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for AZZ. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. At present, AZZ boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, AZZ is currently exchanging hands at a Forward P/E ratio of 15.98. This expresses a discount compared to the average Forward P/E of 21.19 of its industry.
The Manufacturing - Electronics industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 83, finds itself in the top 34% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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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