AZZ Inc. (AZZ) closed at $134.22, up 1.31 percent, while the S&P 500 fell 0.35 percent. The outperformance comes as analysts raise earnings estimates for the electrical equipment maker.
Consensus forecasts call for Q2 earnings of $1.82 per share, up 19.74 percent year-over-year, on revenue of $473.48 million, a 11.21 percent increase. Full-year projections stand at $7.16 per share (up 15.67 percent) on $1.84 billion in revenue (up 11.68 percent).
AZZ trades at a forward P/E of 18.5—a 16 percent discount to the Manufacturing - Electronics industry average of 22.05. Analyst estimate revisions have moved 1.49 percent higher over the past 30 days. The Zacks Rank rates AZZ at #3 (Hold).
The broader Manufacturing - Electronics sector ranks 179th among 250+ industries tracked by Zacks—a relative weakness that may weigh on upside sentiment despite AZZ's fundamental momentum.
