Apogee Enterprises (NASDAQ:APOG) announced its quarterly earnings results on Thursday, December 21st. The industrial products company reported $0.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.14), Bloomberg Earnings reports. Apogee Enterprises had a net margin of 6.24% and a return on equity of 17.99%. The firm had revenue of $356.50 million for the quarter, compared to the consensus estimate of $373.35 million. During the same period last year, the business earned $0.78 EPS. Apogee Enterprises’s revenue was up 30.1% on a year-over-year basis. Apogee Enterprises updated its FY18 guidance to $3.04-3.14 EPS.
Apogee Enterprises (NASDAQ APOG) traded up $0.65 during trading on Friday, hitting $46.73. 210,435 shares of the stock were exchanged, compared to its average volume of 415,142. 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 1.34 and a current ratio of 1.79. The company has a market cap of $1,309.47, a P/E ratio of 16.81, a PEG ratio of 1.51 and a beta of 1.62.
The business also recently declared 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. 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 1.35%. The ex-dividend date of this dividend is Monday, January 29th. Apogee Enterprises’s payout ratio is currently 20.14%.
Apogee Enterprises announced that its board has authorized a share repurchase 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 repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
Several brokerages have recently weighed in on APOG. BidaskClub cut shares of Apogee Enterprises from a “hold” rating to a “sell” rating in a research note on Thursday, December 14th. Zacks Investment Research upgraded shares of Apogee Enterprises from a “sell” rating to a “hold” rating in a research note on Tuesday, November 21st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Apogee Enterprises has a consensus rating of “Buy” and a consensus target price of $63.33.
Institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in Apogee Enterprises by 1.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,338,196 shares of the industrial products company’s stock valued at $64,581,000 after purchasing an additional 22,442 shares during the last quarter. State Street Corp grew its holdings in Apogee Enterprises by 2.1% during the 2nd quarter. State Street Corp now owns 1,122,436 shares of the industrial products company’s stock valued at $63,793,000 after purchasing an additional 23,385 shares during the last quarter. Royce & Associates LP grew its holdings in Apogee Enterprises by 2.2% during the 3rd quarter. Royce & Associates LP now owns 758,078 shares of the industrial products company’s stock valued at $36,585,000 after purchasing an additional 16,585 shares during the last quarter. FMR LLC grew its holdings in Apogee Enterprises by 6.6% during the 2nd quarter. FMR LLC now owns 663,870 shares of the industrial products company’s stock valued at $37,734,000 after purchasing an additional 41,150 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Apogee Enterprises by 16.7% during the 3rd quarter. Wells Fargo & Company MN now owns 595,664 shares of the industrial products company’s stock valued at $28,746,000 after purchasing an additional 85,321 shares during the last quarter. Hedge funds and other institutional investors own 99.02% of the company’s stock.
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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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