$1.05 EPS Expected for Apogee Enterprises, Inc. (APOG) This Quarter
Wall Street brokerages forecast that Apogee Enterprises, Inc. (NASDAQ:APOG) will announce earnings of $1.05 per share for the current quarter, according to Zacks. Two analysts have provided estimates for Apogee Enterprises’ earnings. Apogee Enterprises reported earnings per share of $0.77 during the same quarter last year, which suggests a positive year-over-year growth rate of 36.4%. The company is expected to report its next earnings results before the market opens on Tuesday, September 19th.
On average, analysts expect that Apogee Enterprises will report full-year earnings of $3.80 per share for the current year. For the next year, analysts expect that the firm will post earnings of $4.66 per share. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Apogee Enterprises.
Apogee Enterprises (NASDAQ:APOG) last released its quarterly earnings data on Thursday, June 22nd. The industrial products company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by $0.09. Apogee Enterprises had a net margin of 7.39% and a return on equity of 18.59%. The business had revenue of $272.30 million during the quarter, compared to the consensus estimate of $271.13 million. During the same period last year, the business posted $0.61 earnings per share. The firm’s quarterly revenue was up 9.9% on a year-over-year basis.
APOG has been the topic of a number of analyst reports. ValuEngine upgraded shares of Apogee Enterprises from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Sidoti began coverage on shares of Apogee Enterprises in a research note on Thursday, May 25th. They set a “buy” rating and a $70.00 target price on the stock. Zacks Investment Research upgraded shares of Apogee Enterprises from a “sell” rating to a “hold” rating in a research note on Friday, April 21st. Finally, BidaskClub cut shares of Apogee Enterprises from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $64.75.
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Apogee Enterprises (NASDAQ:APOG) traded up 0.56% on Wednesday, hitting $54.04. 163,020 shares of the company were exchanged. Apogee Enterprises has a 52 week low of $39.88 and a 52 week high of $61.00. The company has a 50 day moving average price of $55.53 and a 200-day moving average price of $55.99. The stock has a market capitalization of $1.56 billion, a P/E ratio of 18.51 and a beta of 1.58.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 25th. Stockholders of record on Monday, July 10th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Thursday, July 6th. Apogee Enterprises’s payout ratio is currently 19.24%.
In related news, Director Jerome L. Davis sold 18,706 shares of the stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $55.04, for a total value of $1,029,578.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph F. Puishys sold 40,000 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $56.06, for a total transaction of $2,242,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 198,706 shares of company stock valued at $11,114,178 in the last ninety days. Insiders own 3.10% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in APOG. Creative Planning raised its stake in Apogee Enterprises by 0.3% in the second quarter. Creative Planning now owns 4,228 shares of the industrial products company’s stock valued at $240,000 after buying an additional 11 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Apogee Enterprises by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 3,180 shares of the industrial products company’s stock valued at $189,000 after buying an additional 60 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in Apogee Enterprises by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 11,700 shares of the industrial products company’s stock valued at $697,000 after buying an additional 100 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in Apogee Enterprises by 1.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 8,400 shares of the industrial products company’s stock valued at $500,000 after buying an additional 130 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in Apogee Enterprises by 5.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 4,490 shares of the industrial products company’s stock valued at $268,000 after buying an additional 241 shares in the last quarter.
Apogee Enterprises Company Profile
Apogee Enterprises, Inc is engaged in the design and development of glass solutions for enclosing commercial buildings and framing art. The Company operates through four segments: Architectural Glass, Architectural Services, Architectural Framing Systems and Large-Scale Optical Technologies (LSO). The Architectural Glass segment fabricates coated glass used in customized window and wall systems.
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