Apogee Enterprises, Inc. (APOG) Expected to Announce Quarterly Sales of $376.25 Million
Analysts forecast that Apogee Enterprises, Inc. (NASDAQ:APOG) will report $376.25 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Apogee Enterprises’ earnings. The highest sales estimate is $381.00 million and the lowest is $371.50 million. Apogee Enterprises posted sales of $274.07 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 37.3%. The business is expected to report its next quarterly earnings report on Wednesday, December 13th.
According to Zacks, analysts expect that Apogee Enterprises will report full year sales of $376.25 million for the current financial year. For the next year, analysts anticipate that the firm will post sales of $1.57 billion per share, with estimates ranging from $1.54 billion to $1.59 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 results on Tuesday, September 19th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.04. The business had revenue of $343.91 million during the quarter, compared to analysts’ expectations of $349.97 million. Apogee Enterprises had a net margin of 6.57% and a return on equity of 17.89%. The business’s quarterly revenue was up 23.5% on a year-over-year basis. During the same quarter last year, the company posted $0.77 earnings per share.
Several research firms have commented on APOG. ValuEngine upgraded shares of Apogee Enterprises from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. BidaskClub cut shares of Apogee Enterprises from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. DA Davidson set a $52.00 price target on shares of Apogee Enterprises and gave the stock a “buy” rating in a report on Thursday, August 24th. Finally, Zacks Investment Research cut shares of Apogee Enterprises from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Apogee Enterprises presently has a consensus rating of “Hold” and an average price target of $63.33.
Apogee Enterprises (NASDAQ APOG) opened at 48.86 on Thursday. The firm has a 50 day moving average of $45.52 and a 200-day moving average of $52.36. The stock has a market cap of $1.41 billion, a PE ratio of 17.83 and a beta of 1.56. Apogee Enterprises has a 12-month low of $39.88 and a 12-month high of $61.00.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Stockholders of record on Tuesday, October 24th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.15%. Apogee Enterprises’s payout ratio is 20.44%.
In other news, Director Jerome L. Davis sold 18,706 shares of the company’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 Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.70% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of Apogee Enterprises by 19,368.0% in the 1st quarter. BlackRock Inc. now owns 4,227,467 shares of the industrial products company’s stock valued at $252,000,000 after buying an additional 4,205,752 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Apogee Enterprises by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 2,562,618 shares of the industrial products company’s stock valued at $152,757,000 after buying an additional 135,949 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Apogee Enterprises by 1.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,315,754 shares of the industrial products company’s stock valued at $74,787,000 after buying an additional 18,145 shares in the last quarter. State Street Corp boosted its holdings in shares of Apogee Enterprises by 2.1% in the 2nd quarter. State Street Corp now owns 1,122,436 shares of the industrial products company’s stock valued at $63,793,000 after buying an additional 23,385 shares in the last quarter. Finally, SG Capital Management LLC acquired a new position in shares of Apogee Enterprises in the 2nd quarter valued at $38,239,000.
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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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