$295.2 Million in Sales Expected for Apogee Enterprises Inc (APOG) This Quarter
Wall Street analysts expect Apogee Enterprises Inc (NASDAQ:APOG) to report sales of $295.2 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Apogee Enterprises’ earnings, with the lowest sales estimate coming in at $293.4 million and the highest estimate coming in at $297 million. Apogee Enterprises reported sales of $247.88 million during the same quarter last year, which indicates a positive year-over-year growth rate of 19.1%. The business is expected to report its next quarterly earnings report after the market closes on Wednesday, June 21st.
On average, analysts expect that Apogee Enterprises will report full year sales of $295.2 million for the current fiscal year. For the next fiscal year, analysts forecast that the business will report sales of $1.36 billion per share, with estimates ranging from $1.35 billion to $1.38 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Apogee Enterprises.
Apogee Enterprises (NASDAQ:APOG) last announced its quarterly earnings data on Thursday, April 13th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.08. The business had revenue of $314.13 million for the quarter, compared to the consensus estimate of $291.18 million. Apogee Enterprises had a net margin of 7.77% and a return on equity of 19.12%. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.69 earnings per share.
Several equities analysts have commented on APOG shares. Zacks Investment Research raised shares of Apogee Enterprises from a “hold” rating to a “strong-buy” rating and set a $58.00 target price on the stock in a research note on Tuesday, December 20th. Craig Hallum started coverage on shares of Apogee Enterprises in a research note on Thursday, January 19th. They set a “buy” rating and a $68.00 target price on the stock.
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In other news, insider Patricia A. Beithon sold 3,000 shares of Apogee Enterprises stock in a transaction that occurred on Wednesday, January 18th. The shares were sold at an average price of $55.54, for a total value of $166,620.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard Vanfleet Reynolds sold 1,950 shares of Apogee Enterprises stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $58.18, for a total transaction of $113,451.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,022 shares of company stock worth $1,544,600. 3.70% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in APOG. BlackRock Fund Advisors boosted its position in shares of Apogee Enterprises by 7.8% in the third quarter. BlackRock Fund Advisors now owns 1,954,107 shares of the industrial products company’s stock valued at $87,329,000 after buying an additional 141,820 shares in the last quarter. BlackRock Inc. boosted its position in shares of Apogee Enterprises by 204.2% in the third quarter. BlackRock Inc. now owns 33,671 shares of the industrial products company’s stock valued at $1,505,000 after buying an additional 22,604 shares in the last quarter. BlackRock Advisors LLC boosted its position in shares of Apogee Enterprises by 115.7% in the third quarter. BlackRock Advisors LLC now owns 195,518 shares of the industrial products company’s stock valued at $8,738,000 after buying an additional 104,870 shares in the last quarter. BlackRock Japan Co. Ltd boosted its position in shares of Apogee Enterprises by 71.8% in the third quarter. BlackRock Japan Co. Ltd now owns 3,116 shares of the industrial products company’s stock valued at $139,000 after buying an additional 1,302 shares in the last quarter. Finally, Sei Investments Co. boosted its position in shares of Apogee Enterprises by 58.2% in the third quarter. Sei Investments Co. now owns 11,358 shares of the industrial products company’s stock valued at $507,000 after buying an additional 4,178 shares in the last quarter.
Shares of Apogee Enterprises (NASDAQ:APOG) traded down 0.642% during trading on Friday, hitting $51.865. 391,356 shares of the company traded hands. Apogee Enterprises has a one year low of $39.48 and a one year high of $61.00. The firm has a 50 day moving average price of $57.38 and a 200-day moving average price of $52.09. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 17.463 and a beta of 1.40.
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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