Apogee Enterprises Inc. Expected to Post Q3 2017 Earnings of $0.79 Per Share (APOG)
Apogee Enterprises Inc. (NASDAQ:APOG) – Stock analysts at DA Davidson reduced their Q3 2017 EPS estimates for shares of Apogee Enterprises in a research note issued on Thursday. DA Davidson analyst B. Thielman now expects that the firm will earn $0.79 per share for the quarter, down from their previous forecast of $0.82. DA Davidson has a “Buy” rating and a $56.00 price target on the stock. DA Davidson also issued estimates for Apogee Enterprises’ Q4 2017 earnings at $0.69 EPS and FY2017 earnings at $2.87 EPS.
Apogee Enterprises (NASDAQ:APOG) last announced its quarterly earnings data on Wednesday, September 14th. The company reported $0.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.10. The firm earned $278.50 million during the quarter. Apogee Enterprises had a return on equity of 18.68% and a net margin of 7.65%. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 earnings per share.
A number of other research analysts have also recently commented on the company. Zacks Investment Research cut Apogee Enterprises from a “buy” rating to a “hold” rating in a research report on Tuesday, August 23rd. Goldman Sachs Group Inc. cut Apogee Enterprises from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $53.00 to $50.00 in a research report on Monday, July 11th.
Shares of Apogee Enterprises (NASDAQ:APOG) traded up 0.365% during mid-day trading on Monday, reaching $43.965. The company’s stock had a trading volume of 82,904 shares. Apogee Enterprises has a 12 month low of $33.67 and a 12 month high of $54.34. The company has a 50-day moving average of $47.03 and a 200-day moving average of $44.77. The firm has a market cap of $1.27 billion, a PE ratio of 16.277 and a beta of 1.49.
A number of hedge funds have recently added to or reduced their stakes in the stock. Neumeier Poma Investment Counsel LLC raised its stake in Apogee Enterprises by 32.4% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 378,300 shares of the company’s stock valued at $16,604,000 after buying an additional 92,675 shares during the period. Huntington Asset Advisors Inc. purchased a new stake in shares of Apogee Enterprises during the first quarter worth approximately $658,000. JPMorgan Chase & Co. raised its stake in shares of Apogee Enterprises by 13,117.4% in the first quarter. JPMorgan Chase & Co. now owns 37,273 shares of the company’s stock worth $1,636,000 after buying an additional 36,991 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Apogee Enterprises by 2.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 780,643 shares of the company’s stock worth $34,262,000 after buying an additional 20,743 shares during the last quarter. Finally, BlackRock Group LTD raised its stake in shares of Apogee Enterprises by 17.3% in the first quarter. BlackRock Group LTD now owns 46,382 shares of the company’s stock worth $2,035,000 after buying an additional 6,829 shares during the last quarter. 98.28% of the stock is currently owned by institutional investors and hedge funds.
In related news, CFO James S. Porter sold 2,500 shares of the firm’s stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $46.14, for a total value of $115,350.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Joseph F. Puishys sold 75,000 shares of the firm’s stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $45.95, for a total value of $3,446,250.00. Following the completion of the sale, the chief executive officer now directly owns 290,553 shares in the company, valued at $13,350,910.35. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.
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.
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