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AZZ (NYSE:AZZ) Issues Earnings Guidance for Fiscal Year 23

AZZ (NYSE:AZZ) Issues Earnings Guidance for Fiscal Year 23

The company provided an update to the earnings guidance that AZZ (NYSE: AZZ) had previously provided for FY23 on Monday morning. In contrast to the consensus forecast of $3.89, the company anticipated a range of earnings per share for the period between $4.05 and $4.25. This was in contrast to the consensus forecast, which was $3.89. The company provided a revenue forecast in the range of $1.27 billion to $1.32 billion, which is a lower estimate for revenue than the $1.33 billion estimate that the market consensus has established a range of earnings per share for the period between $4.05 and $4.25. This was in contrast to the consensus forecast, which was $3.89. The company provided a revenue forecast in the range of $1.27 billion to $1.32 billion, which is a lower estimate for revenue than the $1.33 billion estimate that the market consensus has established. AZZ has revised its earnings per share forecast for the upcoming fiscal year 2023 to a range between $4.05 and $4.25 per share.
The most recent report on AZZ’s quarterly performance was made public on the 11th of October, the same day the report was released (NYSE: AZZ). The industrial goods company’s quarterly report showed that it had profits per share of $1.24, which was $0.58 less than the average expectation of $1.82. The revenue analysts anticipated the company would bring in during the quarter ranged from $500.60 million to $406.71 million. This range was based on the company’s historical performance. AZZ successfully generated a return on equity of 15.99%, while the company’s net margin came in at 0.78%. According to projections offered by equity research firms, AZZ should finish the current fiscal year with a profit of 5.21 cents per share it can distribute to shareholders.
In recent years, AZZ has been successful in attracting the attention of a variety of different brokerage firms. Sidoti gave shares of AZZ a buy rating in a research note published on Wednesday, October 12th. Previously, the company had given the stock a neutral rating. In addition, they decided that the company should aim for a price of $49.00 per share. On Tuesday, September 20th, Stifel Nicolaus released a research report in which they rated the company as a buy and decreased their price objective for AZZ from $62.00 to $54.00. The report also stated that they had decreased their price objective for AZZ. The report was focused on the company. In a research note that was made public on October 20th, StockNews.com announced that it had changed its recommendation for AZZ from “sell” to “hold.” The Street lowered their recommendation for shares of AZZ from a b- rating to a c+ rating in a research report published on Friday, October 14th. The report was made available to the public.
The price of an individual AZZ share increased by $0.12 during the lunchtime session on Monday, reaching $42.21 per share. The volume of shares traded by the company was significantly higher than its usual level of 110,958, reaching 137,504 shares. The company’s simple moving average for the past fifty days is $40.43, and the simple moving average for the past 200 days is $40.55. The company’s price-to-earnings ratio is 54.66, and its beta value is 1.24. The company currently has a market capitalization of $1.05 billion lunchtime session on Monday, reaching $42.21 per share. The volume of shares traded by the company was significantly higher than its usual level of 110,958, reaching 137,504 shares. The company’s simple moving average for the past fifty days is $40.43, and the simple moving average for the past 200 days is $40.55. The company’s price-to-earnings ratio is 54.66, and its beta value is 1.24. The company currently has a market capitalization of $1.05 billion. AZZ reached its 52-week high of $54.58, while the stock reached its 52-week low of $30.21 during this period. The debt-to-equity ratio is calculated to be 1.44; the current ratio is calculated to be 1.88; the quick ratio is calculated to be 1.47, and so on.
In other news about AZZ, corporate insider Ken Lavelle purchased 2,000 shares of the company’s stock on Monday, October 17th. This was the latest development in the ongoing saga. The stock was purchased for a total of $69,360, which works out to a price of $34.68 per share on average. The total amount spent on the stock was $69,360. Following the completion of the transaction, the company insider now owns 24,361 shares of the company, which have a value of $844,839.48. If you click on this link, you will be taken to an SEC filing that provides further details regarding the acquisition. Kurt L. Russell, who serves as the company’s chief operating officer, purchased 3,000 shares of the company’s stock on Friday, October 14th. This piece of information is relevant to the topic at hand. They were acquired by paying a total of $104,670.00 in shares, which works out to a price of $34.89 per share on average. Because of the transaction, the chief operating officer now owns 3,000 shares of the company’s stock worth $104,670. Follow the link, which will take you to a filing submitted to the Securities and Exchange Commission. You will have the opportunity to acquire additional information regarding the transaction; additionally, on Monday, October 17, an insider at the company named Ke.

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