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Why AZZ (AZZ) Dipped More Than Broader Market Today
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AZZ (AZZ - Free Report) ended the recent trading session at $136.52, demonstrating a -1.28% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.59%. On the other hand, the Dow registered a loss of 0.6%, and the technology-centric Nasdaq decreased by 0.65%.
Prior to today's trading, shares of the electrical equipment maker had lost 8.65% lagged the Industrial Products sector's loss of 5.26% and the S&P 500's loss of 1.37%.
The investment community will be closely monitoring the performance of AZZ in its forthcoming earnings report. The company is forecasted to report an EPS of $1.8, showcasing a 16.13% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $458.04 million, showing a 9.77% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $6.93 per share and revenue of $1.82 billion, which would represent changes of +11.95% and +10.33%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for AZZ. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 past month, there's been no change in the Zacks Consensus EPS estimate. AZZ is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that AZZ has a Forward P/E ratio of 19.95 right now. Its industry sports an average Forward P/E of 24, so one might conclude that AZZ is trading at a discount comparatively.
The Manufacturing - Electronics industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 101, placing it within the top 42% of over 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
View the Zacks #1 Rank List
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Why AZZ (AZZ) Dipped More Than Broader Market Today
AZZ (AZZ - Free Report) ended the recent trading session at $136.52, demonstrating a -1.28% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.59%. On the other hand, the Dow registered a loss of 0.6%, and the technology-centric Nasdaq decreased by 0.65%.
Prior to today's trading, shares of the electrical equipment maker had lost 8.65% lagged the Industrial Products sector's loss of 5.26% and the S&P 500's loss of 1.37%.
The investment community will be closely monitoring the performance of AZZ in its forthcoming earnings report. The company is forecasted to report an EPS of $1.8, showcasing a 16.13% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $458.04 million, showing a 9.77% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $6.93 per share and revenue of $1.82 billion, which would represent changes of +11.95% and +10.33%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for AZZ. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 past month, there's been no change in the Zacks Consensus EPS estimate. AZZ is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that AZZ has a Forward P/E ratio of 19.95 right now. Its industry sports an average Forward P/E of 24, so one might conclude that AZZ is trading at a discount comparatively.
The Manufacturing - Electronics industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 101, placing it within the top 42% of over 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.