Equities analysts expect Apogee Enterprises Inc (NASDAQ:APOG) to post earnings per share of $0.60 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Apogee Enterprises’ earnings. Apogee Enterprises posted earnings of $0.80 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 25%. The firm is expected to report its next quarterly earnings results before the market opens 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 year, analysts expect that the company will report earnings of $3.75 per share. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that follow Apogee Enterprises.
Apogee Enterprises (NASDAQ:APOG) last issued its earnings results on Thursday, December 21st. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.14). Apogee Enterprises had a return on equity of 17.99% and a net margin of 6.24%. The company had revenue of $356.50 million during the quarter, compared to analysts’ expectations of $373.35 million. During the same quarter in the prior year, the business posted $0.78 EPS. The company’s revenue for the quarter was up 30.1% compared to the same quarter last year.
Several equities research analysts recently issued reports on APOG shares. ValuEngine cut shares of Apogee Enterprises from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research upgraded shares of Apogee Enterprises from a “sell” rating to a “hold” rating in a report on Tuesday, November 21st. Finally, BidaskClub cut shares of Apogee Enterprises from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $61.00.
In other Apogee Enterprises news, Director Sara L. Hays sold 2,229 shares of the stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $45.46, for a total value of $101,330.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.70% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in APOG. Nationwide Fund Advisors raised its position in Apogee Enterprises by 63.9% in the third quarter. Nationwide Fund Advisors now owns 26,325 shares of the industrial products company’s stock worth $1,270,000 after acquiring an additional 10,264 shares during the period. Crossmark Global Holdings Inc. bought a new position in Apogee Enterprises in the third quarter worth approximately $259,000. American Century Companies Inc. raised its position in Apogee Enterprises by 130.4% in the third quarter. American Century Companies Inc. now owns 369,475 shares of the industrial products company’s stock worth $17,831,000 after acquiring an additional 209,092 shares during the period. Principal Financial Group Inc. raised its position in Apogee Enterprises by 9.7% in the third quarter. Principal Financial Group Inc. now owns 390,569 shares of the industrial products company’s stock worth $18,849,000 after acquiring an additional 34,566 shares during the period. Finally, Alps Advisors Inc. raised its position in Apogee Enterprises by 24.6% in the third quarter. Alps Advisors Inc. now owns 10,451 shares of the industrial products company’s stock worth $504,000 after acquiring an additional 2,066 shares during the period. Institutional investors and hedge funds own 99.70% of the company’s stock.
Shares of Apogee Enterprises (APOG) opened at $45.27 on Monday. Apogee Enterprises has a fifty-two week low of $40.03 and a fifty-two week high of $59.98. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.79 and a quick ratio of 1.32. The stock has a market cap of $1,314.02, a P/E ratio of 16.28, a P/E/G ratio of 1.13 and a beta of 1.57.
Apogee Enterprises declared that its board has authorized a stock buyback program on Tuesday, January 9th that allows the company to repurchase 1,000,000 outstanding shares. This repurchase authorization allows 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 management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Tuesday, January 30th were given a $0.1575 dividend. The ex-dividend date was Monday, January 29th. This is an increase from Apogee Enterprises’s previous quarterly dividend of $0.14. This represents a $0.63 annualized dividend and a yield of 1.39%. Apogee Enterprises’s dividend payout ratio (DPR) is presently 22.66%.
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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