Apogee Enterprises (NASDAQ:APOG) released its earnings results on Thursday, December 21st. The industrial products company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.14), Bloomberg Earnings reports. The company had revenue of $356.50 million during the quarter, compared to analysts’ expectations of $373.35 million. Apogee Enterprises had a return on equity of 17.99% and a net margin of 6.24%. Apogee Enterprises’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same period last year, the firm posted $0.78 EPS. Apogee Enterprises updated its FY18 guidance to $3.04-3.14 EPS.
Apogee Enterprises (APOG) traded up $0.65 during midday trading on Friday, hitting $46.73. 210,435 shares of the stock were exchanged, compared to its average volume of 343,728. The company has a current ratio of 1.79, a quick ratio of 1.34 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $1,340.00, a PE ratio of 16.81, a PEG ratio of 1.50 and a beta of 1.62. Apogee Enterprises has a 12-month low of $40.03 and a 12-month high of $61.00.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Tuesday, January 30th will be issued a $0.1575 dividend. The ex-dividend date is Monday, January 29th. This is a boost from Apogee Enterprises’s previous quarterly dividend of $0.14. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.35%. Apogee Enterprises’s dividend payout ratio is presently 20.14%.
Apogee Enterprises declared that its board has approved 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 purchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Riverhead Capital Management LLC lifted its stake in Apogee Enterprises by 99.8% in the second 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 period. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Apogee Enterprises by 79.4% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,486 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 1,100 shares during the last quarter. Flinton Capital Management LLC raised its position in shares of Apogee Enterprises by 80.0% in the 2nd quarter. Flinton Capital Management LLC now owns 3,060 shares of the industrial products company’s stock valued at $174,000 after purchasing an additional 1,360 shares during the last quarter. Advisor Group Inc. raised its position in shares of Apogee Enterprises by 76.9% in the 2nd quarter. Advisor Group Inc. now owns 3,444 shares of the industrial products company’s stock valued at $195,000 after purchasing an additional 1,497 shares during the last quarter. Finally, Petrus Trust Company LTA purchased a new position in shares of Apogee Enterprises in the 2nd quarter valued at approximately $208,000. Hedge funds and other institutional investors own 99.02% of the company’s stock.
APOG has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Apogee Enterprises from a “sell” rating to a “hold” rating in a research note on Tuesday, November 21st. BidaskClub raised shares of Apogee Enterprises from a “sell” rating to a “hold” rating in a research note on Thursday, December 21st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $63.33.
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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