Apogee Enterprises, Inc. (APOG) Expected to Post Quarterly Sales of $354.05 Million
Brokerages forecast that Apogee Enterprises, Inc. (NASDAQ:APOG) will post sales of $354.05 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Apogee Enterprises’ earnings, with estimates ranging from $339.50 million to $368.60 million. Apogee Enterprises posted sales of $278.46 million during the same quarter last year, which suggests a positive year over year growth rate of 27.1%. The business is scheduled to issue its next earnings report before the market opens on Tuesday, September 19th.
According to Zacks, analysts expect that Apogee Enterprises will report full year sales of $354.05 million for the current year. For the next year, analysts expect that the company will post sales of $1.58 billion per share, with estimates ranging from $1.57 billion to $1.59 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Apogee Enterprises.
Apogee Enterprises (NASDAQ:APOG) last announced its quarterly earnings data on Thursday, June 22nd. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by $0.09. The firm had revenue of $272.30 million during the quarter, compared to the consensus estimate of $271.13 million. Apogee Enterprises had a net margin of 7.39% and a return on equity of 18.59%. The business’s revenue was up 9.9% compared to the same quarter last year. During the same period last year, the business earned $0.61 earnings per share.
Several equities analysts have recently commented on the stock. ValuEngine raised shares of Apogee Enterprises from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. BidaskClub downgraded shares of Apogee Enterprises from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Sidoti assumed coverage on shares of Apogee Enterprises in a report on Thursday, May 25th. They issued a “buy” rating and a $70.00 target price on the stock. Zacks Investment Research raised shares of Apogee Enterprises from a “hold” rating to a “strong-buy” rating and set a $65.00 target price on the stock in a report on Monday, June 19th. Finally, DA Davidson set a $52.00 target price on shares of Apogee Enterprises and gave the stock a “buy” rating in a report on Thursday, August 24th. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $63.75.
Shares of Apogee Enterprises (NASDAQ APOG) traded up 1.18% on Tuesday, reaching $43.63. 73,285 shares of the company were exchanged. The firm has a 50 day moving average price of $51.26 and a 200-day moving average price of $54.81. The stock has a market capitalization of $1.26 billion, a PE ratio of 14.94 and a beta of 1.56. Apogee Enterprises has a 12-month low of $39.88 and a 12-month high of $61.00.
In related news, Director Jerome L. Davis sold 18,706 shares of the business’s stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.10% of the company’s stock.
A number of large investors have recently made changes to their positions in APOG. Riverhead Capital Management LLC boosted its stake in shares of Apogee Enterprises by 99.8% in the second quarter. Riverhead Capital Management LLC now owns 2,398 shares of the industrial products company’s stock valued at $136,000 after buying an additional 1,198 shares in the last quarter. Forward Management LLC acquired a new stake in shares of Apogee Enterprises during the second quarter valued at $137,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Apogee Enterprises during the first quarter valued at $146,000. Flinton Capital Management LLC boosted its stake in shares of Apogee Enterprises by 80.0% in the second quarter. Flinton Capital Management LLC now owns 3,060 shares of the industrial products company’s stock valued at $174,000 after buying an additional 1,360 shares in the last quarter. Finally, 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 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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