Apogee Enterprises (NASDAQ:APOG) Announces Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Apogee Enterprises (NASDAQ:APOG) issued its quarterly earnings data on Friday. The industrial products company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.04), MarketWatch Earnings reports. The firm had revenue of $289.10 million for the quarter, compared to analysts’ expectations of $304.54 million. Apogee Enterprises had a net margin of 4.46% and a return on equity of 12.60%. Apogee Enterprises’s revenue was down 18.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 EPS.

APOG stock traded down $1.41 during midday trading on Friday, reaching $21.06. The company had a trading volume of 17,089 shares, compared to its average volume of 308,193. The company has a market capitalization of $561.67 million, a P/E ratio of 8.88, a P/E/G ratio of 0.89 and a beta of 1.42. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.38 and a quick ratio of 1.12. Apogee Enterprises has a 1 year low of $13.77 and a 1 year high of $46.70. The firm has a 50-day moving average price of $21.32 and a 200-day moving average price of $26.46.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Tuesday, July 14th will be paid a $0.188 dividend. The ex-dividend date is Monday, July 13th. This represents a $0.75 dividend on an annualized basis and a yield of 3.57%. Apogee Enterprises’s dividend payout ratio is presently 31.51%.

Several brokerages recently commented on APOG. Sidoti reduced their price objective on shares of Apogee Enterprises from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. BidaskClub raised shares of Apogee Enterprises from a “hold” rating to a “buy” rating in a research note on Tuesday, June 9th. Zacks Investment Research raised shares of Apogee Enterprises from a “sell” rating to a “strong-buy” rating and set a $19.00 price target for the company in a research note on Wednesday, June 3rd. Finally, DA Davidson cut their price target on shares of Apogee Enterprises from $35.00 to $22.00 in a research note on Friday, April 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $28.00.

In other Apogee Enterprises news, Director Lloyd Emerson Johnson acquired 25,140 shares of the stock in a transaction dated Tuesday, April 14th. The stock was purchased at an average cost of $18.75 per share, for a total transaction of $471,375.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.50% of the company’s stock.

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.

See Also: 12b-1 Fees

Earnings History for Apogee Enterprises (NASDAQ:APOG)

Receive News & Ratings for Apogee Enterprises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apogee Enterprises and related companies with MarketBeat.com's FREE daily email newsletter.