Equities analysts predict that Apogee Enterprises Inc (NASDAQ:APOG) will post $381.05 million in sales for the current fiscal quarter, according to Zacks Investment Research. 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 reported sales of $314.13 million during the same quarter last year, which indicates a positive year-over-year growth rate of 21.3%. The business is scheduled to issue its next earnings results on Thursday, April 12th.
On average, analysts expect that Apogee Enterprises will report full year sales of $381.05 million for the current financial year. For the next fiscal year, analysts anticipate that the firm will report sales of $1.54 billion per share, with estimates ranging from $1.53 billion to $1.54 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Apogee Enterprises.
Apogee Enterprises (NASDAQ:APOG) last issued its quarterly 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 business had revenue of $356.50 million for the quarter, compared to analysts’ expectations of $373.35 million. Apogee Enterprises had a net margin of 6.24% and a return on equity of 17.99%. The business’s revenue was up 30.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.78 earnings per share.
In related news, Director Sara L. Hays sold 2,229 shares of the stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $45.46, for a total transaction of $101,330.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.10% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Crossmark Global Holdings Inc. purchased a new stake in Apogee Enterprises in the third quarter worth $259,000. Tieton Capital Management LLC purchased a new stake in Apogee Enterprises in the fourth quarter worth $3,815,000. Royce & Associates LP increased its position in Apogee Enterprises by 12.1% in the fourth quarter. Royce & Associates LP now owns 849,898 shares of the industrial products company’s stock worth $38,866,000 after buying an additional 91,820 shares during the last quarter. KBC Group NV increased its position in Apogee Enterprises by 33.0% in the fourth quarter. KBC Group NV now owns 73,592 shares of the industrial products company’s stock worth $3,365,000 after buying an additional 18,259 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Apogee Enterprises by 1,123.0% in the third quarter. JPMorgan Chase & Co. now owns 119,140 shares of the industrial products company’s stock worth $5,725,000 after buying an additional 109,398 shares during the last quarter. 99.70% of the stock is owned by institutional investors and hedge funds.
Shares of Apogee Enterprises (NASDAQ APOG) opened at $46.24 on Wednesday. The company has a current ratio of 1.79, a quick ratio of 1.32 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $1,321.98, a P/E ratio of 15.15, a P/E/G ratio of 1.14 and a beta of 1.57. Apogee Enterprises has a 52-week low of $40.03 and a 52-week high of $59.98.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Tuesday, January 30th were given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.36%. This is an increase from Apogee Enterprises’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Monday, January 29th. Apogee Enterprises’s dividend payout ratio (DPR) is presently 22.66%.
Apogee Enterprises announced that its Board of Directors has approved a share 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 repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
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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