Equities research analysts expect Apogee Enterprises Inc (NASDAQ:APOG) to post earnings of $0.60 per share for the current quarter, Zacks reports. Two analysts have made estimates for Apogee Enterprises’ earnings. Apogee Enterprises reported earnings of $0.80 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 25%. The business is expected to announce its next earnings results 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 financial year. For the next financial year, analysts forecast that the firm will report earnings of $3.75 per share. Zacks’ earnings per share calculations are an average based on a survey of analysts 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 business had revenue of $356.50 million for the quarter, compared to the consensus estimate of $373.35 million. During the same quarter in the previous year, the company earned $0.78 earnings per share. The firm’s revenue was up 30.1% on a year-over-year basis.
A number of analysts have recently weighed in on the stock. BidaskClub upgraded shares of Apogee Enterprises from a “hold” rating to a “buy” rating in a report on Friday. ValuEngine cut shares of Apogee Enterprises from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Zacks Investment Research upgraded shares of Apogee Enterprises from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $61.00.
Apogee Enterprises (NASDAQ:APOG) opened at $45.93 on Monday. The company has a current ratio of 1.79, a quick ratio of 1.32 and a debt-to-equity ratio of 0.45. Apogee Enterprises has a 1-year low of $40.03 and a 1-year high of $59.98. The stock has a market cap of $1,305.21, a PE ratio of 16.52, a price-to-earnings-growth ratio of 1.12 and a beta of 1.57.
Apogee Enterprises announced that its board has authorized a share repurchase plan on Tuesday, January 9th that permits the company to repurchase 1,000,000 outstanding shares. This repurchase authorization permits the industrial products company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Tuesday, January 30th were issued a $0.1575 dividend. 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 1.37%. The ex-dividend date of this dividend was Monday, January 29th. Apogee Enterprises’s dividend payout ratio (DPR) is currently 22.66%.
In other news, Director Sara L. Hays sold 2,229 shares of the firm’s stock in a transaction dated 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 legal filing with the SEC, which can be accessed through this link. 3.10% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. bought a new stake in shares of Apogee Enterprises in the 3rd quarter valued at about $259,000. Tieton Capital Management LLC purchased a new position in shares of Apogee Enterprises in the 4th quarter valued at approximately $3,815,000. Royce & Associates LP raised its position in shares of Apogee Enterprises by 12.1% in the 4th quarter. Royce & Associates LP now owns 849,898 shares of the industrial products company’s stock valued at $38,866,000 after purchasing an additional 91,820 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Apogee Enterprises by 1,123.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 119,140 shares of the industrial products company’s stock valued at $5,725,000 after purchasing an additional 109,398 shares during the last quarter. Finally, Comerica Bank raised its position in shares of Apogee Enterprises by 9.7% in the 3rd quarter. Comerica Bank now owns 55,333 shares of the industrial products company’s stock valued at $2,616,000 after purchasing an additional 4,873 shares during the last quarter. Institutional investors and hedge funds own 99.70% of the company’s stock.
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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