Apogee Enterprises (NASDAQ:APOG) Updates FY 2024 Earnings Guidance

Apogee Enterprises (NASDAQ:APOG) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $4.35-$4.65 for the period, compared to the consensus earnings per share estimate of $4.28. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. DA Davidson increased their price objective on shares of Apogee Enterprises from $44.00 to $50.00 in a report on Tuesday, June 27th. StockNews.com assumed coverage on shares of Apogee Enterprises in a report on Thursday, August 17th. They issued a buy rating on the stock.

Apogee Enterprises Stock Up 2.0 %

Shares of APOG stock opened at $49.31 on Tuesday. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 10.47 and a beta of 1.17. Apogee Enterprises has a 12-month low of $36.62 and a 12-month high of $51.69. The firm has a fifty day moving average of $48.93 and a 200-day moving average of $44.65. The company has a quick ratio of 1.34, a current ratio of 1.69 and a debt-to-equity ratio of 0.42.

Apogee Enterprises (NASDAQ:APOG) last released its earnings results on Friday, June 23rd. The industrial products company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.15. Apogee Enterprises had a net margin of 7.26% and a return on equity of 23.39%. The business had revenue of $361.80 million during the quarter, compared to the consensus estimate of $355.60 million. During the same quarter last year, the firm earned $1.00 earnings per share. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, equities research analysts predict that Apogee Enterprises will post 4.22 earnings per share for the current fiscal year.

Apogee Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 27th. Stockholders of record on Wednesday, July 12th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend was Tuesday, July 11th. Apogee Enterprises’s dividend payout ratio (DPR) is presently 20.38%.

Insider Activity

In other news, EVP Curtis John Dobler sold 3,727 shares of Apogee Enterprises stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $46.95, for a total value of $174,982.65. Following the completion of the transaction, the executive vice president now owns 34,314 shares of the company’s stock, valued at approximately $1,611,042.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Jane Marie Boyce sold 14,500 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $47.42, for a total transaction of $687,590.00. Following the completion of the sale, the insider now owns 42,603 shares in the company, valued at approximately $2,020,234.26. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Curtis John Dobler sold 3,727 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $46.95, for a total transaction of $174,982.65. Following the sale, the executive vice president now owns 34,314 shares of the company’s stock, valued at approximately $1,611,042.30. The disclosure for this sale can be found here. Insiders sold a total of 19,727 shares of company stock valued at $934,648 in the last quarter. Company insiders own 2.00% of the company’s stock.

Institutional Trading of Apogee Enterprises

Hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC raised its stake in Apogee Enterprises by 8.1% in the 2nd quarter. Lazard Asset Management LLC now owns 2,727 shares of the industrial products company’s stock worth $129,000 after purchasing an additional 204 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Apogee Enterprises by 20.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,300 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 220 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in Apogee Enterprises by 4.3% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 8,204 shares of the industrial products company’s stock worth $355,000 after purchasing an additional 336 shares in the last quarter. Point72 Hong Kong Ltd raised its stake in Apogee Enterprises by 35.1% in the 1st quarter. Point72 Hong Kong Ltd now owns 1,300 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 338 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its stake in Apogee Enterprises by 5.7% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 7,199 shares of the industrial products company’s stock worth $341,000 after purchasing an additional 388 shares in the last quarter. Institutional investors and hedge funds own 88.82% 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. The company operates in four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical Technologies (LSO). The Architectural Framing Systems segment designs, engineers, fabricates, and installs custom glass and aluminum windows, curtainwalls, storefront, and entrance systems for the exterior of buildings primarily in the commercial, institutional, and multi-family residential construction sectors.