AZZ (AZZ) Dips More Than Broader Market: What You Should Know

In the latest close session, AZZ (AZZ) was down 2.71% at $140.26. The stock's change was less than the S&P 500's daily loss of 1.62%. On the other hand, the Dow registered a loss of 1.87%, and the technology-centric Nasdaq decreased by 1.98%. Coming into today, shares of the electrical equipment maker had lost 2.66% in the past month. In that same time, the Industrial Products sector gained 0.72%, while the S&P 500 lost 0.03%. The investment community will be closely monitoring the performance of AZZ in its forthcoming earnings report. In that report, analysts expect AZZ to post earnings of $1.63 per share. This would mark a year-over-year decline of 8.43%. Alongside, our most recent consensus estimate is anticipating revenue of $435.55 million, indicating a 3.22% upward movement from the same quarter last year. AZZ's full-year Zacks Consensus Estimates are calling for earnings of $6.79 per share and revenue of $1.75 billion. These results would represent year-over-year changes of +9.69% and +5.98%, respectively. It is also important to note the recent changes to analyst estimates for AZZ. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits. Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system. The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. As of now, AZZ holds a Zacks Rank of #3 (Hold). In terms of valuation, AZZ is currently trading at a Forward P/E ratio of 21.25. For comparison, its industry has an average Forward P/E of 22.39, which means AZZ is trading at a discount to the group. The Manufacturing - Electronics industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 90, positioning it in the top 37% of all 250+ industries. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. To follow AZZ in the coming trading sessions, be sure to utilize Zacks.com. Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.Free: See Our Top Stock And 4 Runners UpThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks