AZZ (AZZ) ended the recent trading session at $147.39, demonstrating a +2.13% change from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily gain of 0.77%. Meanwhile, the Dow gained 0.75%, and the Nasdaq, a tech-heavy index, added 0.88%.
Shares of the electrical equipment maker have appreciated by 7.69% over the course of the past month, outperforming the Industrial Products sector's loss of 1.07%, and lagging the S&P 500's gain of 8.15%.
The upcoming earnings release of AZZ will be of great interest to investors. The company is forecasted to report an EPS of $1.63, showcasing a 8.43% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $435.55 million, indicating a 3.22% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $6.79 per share and a revenue of $1.75 billion, demonstrating changes of +9.69% and +5.98%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for AZZ. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.51% lower. AZZ is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, AZZ is holding a Forward P/E ratio of 21.27. This signifies a discount in comparison to the average Forward P/E of 22.68 for its industry.
The Manufacturing - Electronics industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 106, finds itself in the top 44% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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This article originally published on Zacks Investment Research (zacks.com).