AZZ Incorporated (NYSE:AZZ) reported on Friday that earnings in the fiscal second-quarter moved up 65% as the company benefited from purchases and stronger sales in both its business units.
The maker of electrical and industrial products again boosted its full-year outlook, anticipating a per-share profit in the range of $2.25 to $2.40 on revenue of $575 million to $600 million. The company previously estimated profit of $2.05 to $2.15 while revenue of $550 million to $575 million.
AZZ reported a profit of $15.9 million or 62 cents per share for the three months period finished Aug 31, high from $9.61 million or 38 cents per share in the previous year. The company further announced revenue surged 34% to $153.4 million.
Thomson Reuters analysts survey anticipated earnings of 52 cents per-share on revenue of $146 million.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. American Superconductor Corporation (NASDAQ:AMSC) fell -1.89% to settle at $4.15, Material Sciences Corporation (NASDAQ:MASC) moved up +0.55% to end at $9.14 while General Cable Corporation (NYSE:BGC) dropped -1.11% to finish at $29.38 on Thursday.
AZZ Incorporated (NYSE:AZZ) on Sep 28, 2012 increased +9.26% to the closing price of $37.98. The overall volume in the last trading session was 1.05 million shares. Its fifty two weeks range was $18.59 – $40.66. The total market capitalization remained at $959.96 million.
AZZ is ahead of its 52-week low with 18.82% and lagging behind from its 52-week high price with -16.75%. AZZ’s last month’s stock price volatility remained 1.86%. In its share capital AZZ has 453.87 million outstanding shares, among them 385.63 million shares have been floated in market exchange. AZZ’s stock’s institutional ownership remained 85.16% while insider ownership included 0.32%.
The stock price of AZZ is moving down from its 20 days moving average with -2.82% and remote negatively from 50 days moving average with -1.14%. AZZ’s current year’s earnings per share experienced an addition with 7.75% while its current quarter performance remained at 8.52%. Company’s beta coefficient included 0.85. Beta factors measure the amount of market risk associated with market trade.
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