Apogee Enterprises Inc (NASDAQ:APOG) Expected to Announce Quarterly Sales of $359.00 Million

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Equities research analysts forecast that Apogee Enterprises Inc (NASDAQ:APOG) will post $359.00 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Apogee Enterprises’ earnings. The lowest sales estimate is $350.25 million and the highest is $364.86 million. Apogee Enterprises reported sales of $362.13 million during the same quarter last year, which indicates a negative year over year growth rate of 0.9%. The business is expected to report its next earnings report on Tuesday, September 17th.

According to Zacks, analysts expect that Apogee Enterprises will report full year sales of $1.44 billion for the current financial year, with estimates ranging from $1.43 billion to $1.45 billion. For the next year, analysts anticipate that the firm will report sales of $1.51 billion, with estimates ranging from $1.48 billion to $1.52 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Apogee Enterprises.

Apogee Enterprises (NASDAQ:APOG) last released its quarterly earnings results on Thursday, June 27th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.05. Apogee Enterprises had a net margin of 3.22% and a return on equity of 16.04%. The firm had revenue of $355.40 million during the quarter, compared to the consensus estimate of $324.39 million. During the same quarter last year, the firm earned $0.62 earnings per share. The company’s revenue for the quarter was up 5.6% on a year-over-year basis.

A number of research analysts have recently issued reports on the stock. TheStreet upgraded shares of Apogee Enterprises from a “c” rating to a “b-” rating in a report on Thursday, June 27th. BidaskClub lowered shares of Apogee Enterprises from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 10th. Craig Hallum raised their price target on shares of Apogee Enterprises from $46.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, ValuEngine lowered shares of Apogee Enterprises from a “hold” rating to a “sell” rating in a research report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Apogee Enterprises currently has an average rating of “Hold” and a consensus target price of $43.33.

Hedge funds have recently made changes to their positions in the business. NumerixS Investment Technologies Inc purchased a new position in Apogee Enterprises during the second quarter valued at approximately $26,000. River & Mercantile Asset Management LLP purchased a new position in Apogee Enterprises during the second quarter valued at approximately $30,000. PNC Financial Services Group Inc. grew its stake in Apogee Enterprises by 105.5% during the first quarter. PNC Financial Services Group Inc. now owns 937 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 481 shares in the last quarter. Versant Capital Management Inc grew its stake in Apogee Enterprises by 475.4% during the first quarter. Versant Capital Management Inc now owns 1,053 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 870 shares in the last quarter. Finally, Cutler Group LP purchased a new position in Apogee Enterprises in the 1st quarter worth approximately $48,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ APOG traded down $0.60 during mid-day trading on Tuesday, reaching $35.54. 7,328 shares of the stock were exchanged, compared to its average volume of 148,904. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.47. The stock has a market cap of $939.83 million, a P/E ratio of 12.05, a P/E/G ratio of 1.17 and a beta of 1.66. The stock has a 50 day simple moving average of $39.28 and a 200-day simple moving average of $38.43. Apogee Enterprises has a one year low of $26.38 and a one year high of $50.40.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 16th were given a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend was Monday, July 15th. Apogee Enterprises’s dividend payout ratio is 23.65%.

Apogee Enterprises Company Profile

Apogee Enterprises, Inc designs and develops glass and metal products and services in the United States, Canada, and Brazil. It operates through four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical Technologies (LSO). The Architectural Framing Systems segment designs, engineers, fabricates, and finishes the aluminum frames used in customized aluminum and glass window, curtainwall, storefront, and entrance systems comprising the outside skin and entrances of commercial, institutional, and multi-family residential buildings.

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

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