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AZZ Lowers Guidance for Fiscal 2018 on Hurricane Impact
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AZZ Inc. (AZZ - Free Report) has provided updated revenue and earnings per share guidance for fiscal 2018, (ending Feb 28, 2018). The company predicts its total revenues and earnings for the fiscal to be lower than prior expectations.
At present, the company expects its revenues to be between $825 million and $885 million compared with the previous guidance of $880 million to $950 million. The company projects its earnings per share to be between $1.80 and $2.30 per share compared with previous guidance of $2.60 to $3.10.
Why This Downward Revision?
The company lowered its projected earnings taking into account various factors. These include the adverse impact of hurricanes Harvey and Irma on its refinery activity, lower electric utility spending in Saudi Arabia, conditions in the U.S. nuclear market with the closure of the VC Summer Nuclear Project and fallout from the Westinghouse Nuclear bankruptcy.
Prospects Look Bright
Despite the drop in earnings guidance for fiscal 2018, the company is well poised to benefit from its completed acquisitions and the ones which are lined up.
The company is implementing much needed changes to improve its operational and financial performance amid market headwinds.
Price Movement
In the last month, AZZ’s gain was 7.7% compared with industry’s 8.9% rally.
Zacks Rank & Stocks to Consider
AZZ currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the sector are AGCO Corporation (AGCO - Free Report) , Park-Ohio Holdings Corp. (PKOH - Free Report) and Terex Corporation (TEX - Free Report) .
AGCO Corporation sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. It pulled off an average positive earnings surprise of 39.7% for the last four quarters. Its 2017 Zacks Consensus Estimate moved up 3% to $3.05, in the last 60 days.
Park-Ohio Holdings, a Zacks Rank #2 (Buy) stock, reported an average positive earnings surprise of 3.3% for the last four quarters. Its 2017 Zacks Consensus Estimate moved up 0.6% to $3.23, in the last 60 days.
Terex Corporation, a Zacks Rank #2 stock, reported an average positive earnings surprise of 122.8% for the last four quarters. Its 2017 Zacks Consensus Estimate moved up 17.3% to $1.15, in the last 60 days.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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AZZ Lowers Guidance for Fiscal 2018 on Hurricane Impact
AZZ Inc. (AZZ - Free Report) has provided updated revenue and earnings per share guidance for fiscal 2018, (ending Feb 28, 2018). The company predicts its total revenues and earnings for the fiscal to be lower than prior expectations.
At present, the company expects its revenues to be between $825 million and $885 million compared with the previous guidance of $880 million to $950 million. The company projects its earnings per share to be between $1.80 and $2.30 per share compared with previous guidance of $2.60 to $3.10.
Why This Downward Revision?
The company lowered its projected earnings taking into account various factors. These include the adverse impact of hurricanes Harvey and Irma on its refinery activity, lower electric utility spending in Saudi Arabia, conditions in the U.S. nuclear market with the closure of the VC Summer Nuclear Project and fallout from the Westinghouse Nuclear bankruptcy.
Prospects Look Bright
Despite the drop in earnings guidance for fiscal 2018, the company is well poised to benefit from its completed acquisitions and the ones which are lined up.
The company is implementing much needed changes to improve its operational and financial performance amid market headwinds.
Price Movement
In the last month, AZZ’s gain was 7.7% compared with industry’s 8.9% rally.
Zacks Rank & Stocks to Consider
AZZ currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the sector are AGCO Corporation (AGCO - Free Report) , Park-Ohio Holdings Corp. (PKOH - Free Report) and Terex Corporation (TEX - Free Report) .
AGCO Corporation sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. It pulled off an average positive earnings surprise of 39.7% for the last four quarters. Its 2017 Zacks Consensus Estimate moved up 3% to $3.05, in the last 60 days.
Park-Ohio Holdings, a Zacks Rank #2 (Buy) stock, reported an average positive earnings surprise of 3.3% for the last four quarters. Its 2017 Zacks Consensus Estimate moved up 0.6% to $3.23, in the last 60 days.
Terex Corporation, a Zacks Rank #2 stock, reported an average positive earnings surprise of 122.8% for the last four quarters. Its 2017 Zacks Consensus Estimate moved up 17.3% to $1.15, in the last 60 days.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>