APi Group (NYSE:APG) Releases Earnings Results, Beats Expectations By $0.02 EPS

APi Group (NYSE:APG) issued its earnings results on Thursday. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02, Briefing.com reports. APi Group had a net margin of 2.49% and a return on equity of 37.83%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the prior year, the business earned $0.41 earnings per share. APi Group’s revenue for the quarter was down 2.3% on a year-over-year basis. APi Group updated its Q3 2024 guidance to EPS.

APi Group Price Performance

Shares of NYSE APG traded down $1.93 during trading on Friday, hitting $34.32. 3,159,677 shares of the company were exchanged, compared to its average volume of 1,806,626. The company has a market cap of $9.41 billion, a price-to-earnings ratio of -15.97, a PEG ratio of 1.11 and a beta of 1.57. APi Group has a 1 year low of $24.61 and a 1 year high of $39.98. The firm’s fifty day moving average price is $37.27 and its 200 day moving average price is $36.74. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.35 and a quick ratio of 1.26.

Insider Activity

In related news, Director Ian G. H. Ashken sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $37.21, for a total transaction of $5,581,500.00. Following the sale, the director now owns 5,828,779 shares in the company, valued at $216,888,866.59. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Global Investors Lp Viking sold 1,951,782 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $38.15, for a total value of $74,460,483.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ian G. H. Ashken sold 150,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $37.21, for a total transaction of $5,581,500.00. Following the completion of the sale, the director now directly owns 5,828,779 shares of the company’s stock, valued at approximately $216,888,866.59. The disclosure for this sale can be found here. Company insiders own 16.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on APG shares. Robert W. Baird reduced their price target on shares of APi Group from $43.00 to $42.00 and set an “outperform” rating for the company in a report on Friday. JPMorgan Chase & Co. reduced their price objective on shares of APi Group from $37.00 to $34.00 and set a “neutral” rating for the company in a research note on Friday. Royal Bank of Canada boosted their price objective on shares of APi Group from $36.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Monday, April 8th. Finally, Citigroup boosted their target price on shares of APi Group from $43.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, APi Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.

APi Group Company Profile

APi Group Corporation provides safety and specialty services worldwide. It operates through Safety Services and Specialty Services segments. The Safety Services segment offers solutions focusing on end-to-end integrated occupancy systems, such as fire protection services; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, and service of these integrated systems.