Brokerages Anticipate Apogee Enterprises Inc (APOG) Will Post Quarterly Sales of $381.05 Million

Brokerages forecast that Apogee Enterprises Inc (NASDAQ:APOG) will post $381.05 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Apogee Enterprises’ earnings, with the lowest sales estimate coming in at $363.00 million and the highest estimate coming in at $399.10 million. Apogee Enterprises posted sales of $314.13 million in the same quarter last year, which suggests a positive year-over-year growth rate of 21.3%. The firm is scheduled to announce its next quarterly earnings results on Thursday, April 12th.

According to Zacks, analysts expect that Apogee Enterprises will report full year sales of $381.05 million for the current financial year, with estimates ranging from $1.34 billion to $1.39 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.54 billion per share, with estimates ranging from $1.53 billion to $1.54 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Apogee Enterprises.

Apogee Enterprises (NASDAQ:APOG) last announced its earnings results on Thursday, December 21st. The industrial products company reported $0.90 EPS for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.14). The firm had revenue of $356.50 million during the quarter, compared to the consensus estimate of $373.35 million. Apogee Enterprises had a return on equity of 17.99% and a net margin of 6.24%. The business’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.78 earnings per share.

APOG has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Apogee Enterprises from a “sell” rating to a “hold” rating in a report on Tuesday, November 21st. BidaskClub upgraded shares of Apogee Enterprises from a “sell” rating to a “hold” rating in a report on Thursday, December 21st. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Apogee Enterprises has an average rating of “Hold” and a consensus target price of $61.00.

A number of institutional investors have recently made changes to their positions in the business. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Apogee Enterprises by 79.4% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,486 shares of the industrial products company’s stock valued at $120,000 after acquiring an additional 1,100 shares in the last quarter. Riverhead Capital Management LLC increased its holdings in shares of Apogee Enterprises by 99.8% during the second quarter. Riverhead Capital Management LLC now owns 2,398 shares of the industrial products company’s stock valued at $136,000 after acquiring an additional 1,198 shares in the last quarter. Flinton Capital Management LLC increased its holdings in shares of Apogee Enterprises by 80.0% during the second quarter. Flinton Capital Management LLC now owns 3,060 shares of the industrial products company’s stock valued at $174,000 after acquiring an additional 1,360 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Apogee Enterprises during the third quarter valued at about $190,000. Finally, Advisor Group Inc. increased its holdings in shares of Apogee Enterprises by 76.9% during the second quarter. Advisor Group Inc. now owns 3,444 shares of the industrial products company’s stock valued at $195,000 after acquiring an additional 1,497 shares in the last quarter. Institutional investors and hedge funds own 98.40% of the company’s stock.

Apogee Enterprises (NASDAQ:APOG) opened at $45.00 on Monday. The company has a market cap of $1,278.78, a PE ratio of 16.19, a price-to-earnings-growth ratio of 1.48 and a beta of 1.62. The company has a quick ratio of 1.32, a current ratio of 1.79 and a debt-to-equity ratio of 0.45. Apogee Enterprises has a fifty-two week low of $40.03 and a fifty-two week high of $61.00.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Tuesday, January 30th will be issued a $0.1575 dividend. The ex-dividend date is Monday, January 29th. This is an increase from Apogee Enterprises’s previous quarterly dividend of $0.14. This represents a $0.63 dividend on an annualized basis and a yield of 1.40%. Apogee Enterprises’s payout ratio is currently 20.14%.

Apogee Enterprises declared that its Board of Directors has approved a share buyback program on Tuesday, January 9th that permits the company to repurchase 1,000,000 shares. This repurchase authorization permits the industrial products company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

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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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Earnings History and Estimates for Apogee Enterprises (NASDAQ:APOG)

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