$356.55 Million in Sales Expected for Apogee Enterprises, Inc. (NASDAQ:APOG) This Quarter
Brokerages expect Apogee Enterprises, Inc. (NASDAQ:APOG) to report $356.55 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Apogee Enterprises’ earnings, with estimates ranging from $344.50 million to $368.60 million. Apogee Enterprises posted sales of $278.46 million during the same quarter last year, which would indicate a positive year over year growth rate of 28%. The company is scheduled to issue its next quarterly earnings report before the market opens on Tuesday, September 19th.
On average, analysts expect that Apogee Enterprises will report full-year sales of $356.55 million for the current fiscal year, with estimates ranging from $1.40 billion to $1.42 billion. For the next year, analysts expect that the firm will post sales of $1.61 billion per share, with estimates ranging from $1.57 billion to $1.66 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Apogee Enterprises.
Apogee Enterprises (NASDAQ:APOG) last posted its quarterly earnings data on Thursday, June 22nd. The industrial products company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.71 by $0.09. Apogee Enterprises had a return on equity of 18.59% and a net margin of 7.39%. The business had revenue of $272.30 million for the quarter, compared to the consensus estimate of $271.13 million. During the same period in the previous year, the firm earned $0.61 EPS. The company’s revenue was up 9.9% on a year-over-year basis.
A number of analysts have recently weighed in on the stock. BidaskClub cut shares of Apogee Enterprises from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Zacks Investment Research upgraded shares of Apogee Enterprises from a “hold” rating to a “strong-buy” rating and set a $65.00 price target on the stock in a report on Monday, June 19th. ValuEngine upgraded shares of Apogee Enterprises from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, Sidoti assumed coverage on shares of Apogee Enterprises in a report on Thursday, May 25th. They issued a “buy” rating and a $70.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $64.75.
Apogee Enterprises (NASDAQ:APOG) traded down 1.823% during midday trading on Friday, reaching $52.731. 116,091 shares of the company traded hands. The stock has a market capitalization of $1.52 billion, a P/E ratio of 18.059 and a beta of 1.58. The company has a 50 day moving average price of $55.56 and a 200-day moving average price of $55.96. Apogee Enterprises has a one year low of $39.88 and a one year high of $61.00.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 25th. Investors of record on Monday, July 10th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Thursday, July 6th. Apogee Enterprises’s dividend payout ratio (DPR) is presently 19.24%.
In other Apogee Enterprises news, CEO Joseph F. Puishys sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $55.97, for a total transaction of $5,597,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jerome L. Davis sold 18,706 shares of the firm’s stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $55.04, for a total transaction of $1,029,578.24. 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 over the last three months. 3.70% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of APOG. Creative Planning raised its position 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 during the period. State of Alaska Department of Revenue boosted its stake in shares of 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 during the period. Louisiana State Employees Retirement System boosted its stake in shares of 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 during the period. Municipal Employees Retirement System of Michigan boosted its stake in shares of 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 during the period. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of 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 during the period.
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About Apogee Enterprises
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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