Apogee Enterprises Inc. (APOG) Issues Quarterly Earnings Results

apogee-enterprises-inc-apog-issues-quarterly-earnings-results.jpg

Apogee Enterprises Inc. (NASDAQ:APOG) announced its earnings results on Wednesday. The company reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.10. Apogee Enterprises had a net margin of 7.17% and a return on equity of 17.33%. The company had revenue of $278.50 million for the quarter, compared to analyst estimates of $268.05 million. During the same period in the prior year, the business earned $0.50 earnings per share. Apogee Enterprises’s quarterly revenue was up 15.7% on a year-over-year basis. Apogee Enterprises updated its FY17 guidance to $2.80-2.90 EPS.
Apogee Enterprises (NASDAQ:APOG) traded up 3.71% during midday trading on Wednesday, reaching $46.11. 501,910 shares of the company’s stock traded hands. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 19.05 and a beta of 1.49. The stock’s 50 day moving average price is $47.45 and its 200 day moving average price is $44.62. Apogee Enterprises has a 1-year low of $33.67 and a 1-year high of $58.29.
Several equities analysts recently weighed in on the stock. DA Davidson restated a “buy” rating and issued a $56.00 price objective on shares of Apogee Enterprises in a report on Tuesday. Zacks Investment Research lowered shares of Apogee Enterprises from a “buy” rating to a “hold” rating in a report on Tuesday, August 23rd. Finally, Goldman Sachs Group Inc. lowered shares of Apogee Enterprises from a “buy” rating to a “neutral” rating and cut their price objective for the company from $53.00 to $50.00 in a report on Monday, July 11th.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/14/apogee-enterprises-inc-apog-issues-quarterly-earnings-results.html

In related news, Director Sara L. Hays sold 2,000 shares of the business’s stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $47.00, for a total transaction of $94,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert J. Marzec sold 3,000 shares of the business’s stock in a transaction on Monday, July 18th. The shares were sold at an average price of $48.04, for a total transaction of $144,120.00. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System increased its position in Apogee Enterprises by 1.4% in the second quarter. Arizona State Retirement System now owns 14,987 shares of the company’s stock worth $695,000 after buying an additional 200 shares during the last quarter. Highbridge Capital Management LLC acquired a new stake in shares of Apogee Enterprises during the second quarter worth approximately $635,000. Teachers Retirement System of The State of Kentucky raised its stake in shares of Apogee Enterprises by 16.0% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 12,300 shares of the company’s stock worth $570,000 after buying an additional 1,700 shares during the period. Marshall Wace LLP raised its stake in shares of Apogee Enterprises by 268.8% in the second quarter. Marshall Wace LLP now owns 30,695 shares of the company’s stock worth $1,423,000 after buying an additional 22,373 shares during the period. Finally, KCG Holdings Inc. raised its stake in shares of Apogee Enterprises by 4.2% in the second quarter. KCG Holdings Inc. now owns 6,474 shares of the company’s stock worth $300,000 after buying an additional 261 shares during the period. Institutional investors own 98.28% of the company’s stock.
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.

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

Be the first to comment on "Apogee Enterprises Inc. (APOG) Issues Quarterly Earnings Results"

Leave a comment

Your email address will not be published.


*