Wall Street brokerages expect that Apogee Enterprises Inc (NASDAQ:APOG) will report $381.05 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Apogee Enterprises’ earnings. The lowest sales estimate is $363.00 million and the highest is $399.10 million. Apogee Enterprises posted sales of $314.13 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 21.3%. The business is expected to announce its next earnings report on Thursday, April 12th.
On average, analysts expect that Apogee Enterprises will report full year sales of $381.05 million for the current year, with estimates ranging from $1.34 billion to $1.39 billion. For the next financial year, analysts expect that the business 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 calculations are a mean average based on a survey of sell-side research analysts 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 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.14). The company had revenue of $356.50 million during the quarter, compared to the consensus estimate of $373.35 million. Apogee Enterprises had a net margin of 6.24% and a return on equity of 17.99%. The business’s quarterly revenue was up 30.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 EPS.
Apogee Enterprises (NASDAQ APOG) opened at $42.01 on Thursday. Apogee Enterprises has a 12-month low of $40.03 and a 12-month high of $61.00. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.32 and a current ratio of 1.79. The firm has a market cap of $1,194.67, a PE ratio of 15.11, a PEG ratio of 1.38 and a beta of 1.58.
Apogee Enterprises declared that its board has authorized a stock buyback plan on Tuesday, January 9th that allows the company to buyback 1,000,000 shares. This buyback authorization allows the industrial products company to buy shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Tuesday, January 30th will be given a dividend of $0.1575 per share. This is a positive change from Apogee Enterprises’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Monday, January 29th. This represents a $0.63 annualized dividend and a dividend yield of 1.50%. Apogee Enterprises’s dividend payout ratio (DPR) is 22.66%.
In other news, Director Sara L. Hays sold 2,229 shares of the firm’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $45.46, for a total transaction of $101,330.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.70% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Crossmark Global Holdings Inc. purchased a new stake in Apogee Enterprises during the third quarter valued at about $259,000. Skylands Capital LLC lifted its stake in Apogee Enterprises by 134.7% during the third quarter. Skylands Capital LLC now owns 191,050 shares of the industrial products company’s stock valued at $9,220,000 after buying an additional 109,650 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Apogee Enterprises by 264.6% during the second quarter. JPMorgan Chase & Co. now owns 9,742 shares of the industrial products company’s stock valued at $553,000 after buying an additional 7,070 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its stake in Apogee Enterprises by 70.4% during the third quarter. Kornitzer Capital Management Inc. KS now owns 45,500 shares of the industrial products company’s stock valued at $2,196,000 after buying an additional 18,800 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Apogee Enterprises by 6.6% in the second quarter. FMR LLC now owns 663,870 shares of the industrial products company’s stock worth $37,734,000 after purchasing an additional 41,150 shares in the last quarter. 98.98% of the stock is owned by institutional investors.
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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