Apogee Enterprises (NASDAQ:APOG) Updates FY18 Earnings Guidance

Apogee Enterprises (NASDAQ:APOG) issued an update on its FY18 earnings guidance on Thursday morning. The company provided earnings per share guidance of $3.04-3.14 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.41. The company issued revenue guidance of ~20% to ~$1.34 billion, compared to the consensus revenue estimate of $1.39 billion.

Shares of Apogee Enterprises (NASDAQ APOG) traded up $0.65 during mid-day trading on Friday, reaching $46.73. 210,435 shares of the company traded hands, compared to its average volume of 415,142. Apogee Enterprises has a 52 week low of $40.03 and a 52 week high of $61.00. The company has a quick ratio of 1.34, a current ratio of 1.79 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $1,309.47, a PE ratio of 16.81, a P/E/G ratio of 1.51 and a beta of 1.62.

Apogee Enterprises (NASDAQ:APOG) last issued 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). The business had revenue of $356.50 million for 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%. The company’s revenue was up 30.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.78 EPS. analysts predict that Apogee Enterprises will post 3.05 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Tuesday, January 30th will be paid a dividend of $0.1575 per share. This is a boost from Apogee Enterprises’s previous quarterly dividend of $0.14. The ex-dividend date is Monday, January 29th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.35%. Apogee Enterprises’s payout ratio is 20.14%.

Apogee Enterprises declared that its board has authorized a share repurchase plan on Tuesday, January 9th that permits the company to buyback 1,000,000 outstanding shares. This buyback authorization permits 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 board believes its shares are undervalued.

A number of brokerages have issued reports on APOG. BidaskClub downgraded shares of Apogee Enterprises from a hold rating to a sell rating in a report on Thursday, December 14th. Zacks Investment Research upgraded shares of Apogee Enterprises from a sell rating to a hold rating in a report on Tuesday, November 21st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $63.33.

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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.

Earnings History and Estimates for Apogee Enterprises (NASDAQ:APOG)

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