Brokerages expect Apogee Enterprises Inc (NASDAQ:APOG) to report earnings per share of $0.60 for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Apogee Enterprises’ earnings. Apogee Enterprises reported earnings per share of $0.80 during the same quarter last year, which indicates a negative year-over-year growth rate of 25%. The company is expected to issue its next earnings results on Thursday, April 12th.
According to Zacks, analysts expect that Apogee Enterprises will report full year earnings of $2.58 per share for the current fiscal year. For the next financial year, analysts forecast that the business will post earnings of $3.75 per share. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Apogee Enterprises.
Apogee Enterprises (NASDAQ:APOG) last issued its quarterly earnings results on Thursday, December 21st. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.14). The firm had revenue of $356.50 million for the quarter, compared to analyst estimates of $373.35 million. Apogee Enterprises had a net margin of 6.24% and a return on equity of 17.99%. The firm’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 earnings per share.
Shares of Apogee Enterprises (APOG) traded down $0.17 during midday trading on Friday, hitting $45.00. The company had a trading volume of 304,630 shares, compared to its average volume of 291,285. The company has a quick ratio of 1.32, a current ratio of 1.79 and a debt-to-equity ratio of 0.45. The firm has a market cap of $1,283.61, a PE ratio of 16.19, a price-to-earnings-growth ratio of 1.48 and a beta of 1.62. Apogee Enterprises has a twelve month low of $40.03 and a twelve month high of $61.00.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Tuesday, January 30th will be issued a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.40%. This is a boost from Apogee Enterprises’s previous quarterly dividend of $0.14. The ex-dividend date is Monday, January 29th. Apogee Enterprises’s payout ratio is presently 20.14%.
Apogee Enterprises declared that its Board of Directors has initiated a share buyback program on Tuesday, January 9th that authorizes the company to repurchase 1,000,000 outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Riverhead Capital Management LLC grew its holdings in shares of Apogee Enterprises by 99.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,398 shares of the industrial products company’s stock worth $136,000 after acquiring an additional 1,198 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Apogee Enterprises by 79.4% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,486 shares of the industrial products company’s stock worth $120,000 after buying an additional 1,100 shares during the period. Flinton Capital Management LLC boosted its position 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 worth $174,000 after buying an additional 1,360 shares during the period. Advisor Group Inc. boosted its position in shares of Apogee Enterprises by 76.9% in the second quarter. Advisor Group Inc. now owns 3,444 shares of the industrial products company’s stock worth $195,000 after buying an additional 1,497 shares during the period. Finally, Petrus Trust Company LTA acquired a new stake in shares of Apogee Enterprises in the second quarter worth $208,000. Institutional investors and hedge funds own 96.98% of the company’s stock.
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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