Apogee Enterprises Inc. (NASDAQ:APOG) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided EPS guidance of $2.80-2.90 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.83. The company issued revenue guidance of +10% to ~$1.08 billion, compared to the consensus revenue estimate of $1.08 billion.
Apogee Enterprises Inc. (NASDAQ:APOG) traded up 3.71% during trading on Wednesday, hitting $46.11. The stock had a trading volume of 501,910 shares. The stock has a market capitalization of $1.33 billion, a PE ratio of 19.05 and a beta of 1.49. Apogee Enterprises Inc. has a 52-week low of $33.67 and a 52-week high of $58.29. The stock’s 50-day moving average is $47.45 and its 200-day moving average is $44.62.
Apogee Enterprises (NASDAQ:APOG) last posted its earnings results on Wednesday, September 14th. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.67 by $0.10. The firm had revenue of $278.50 million for the quarter, compared to analyst estimates of $268.05 million. Apogee Enterprises had a return on equity of 17.33% and a net margin of 7.17%. Apogee Enterprises’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period last year, the company earned $0.50 earnings per share. On average, analysts predict that Apogee Enterprises Inc. will post $2.83 earnings per share for the current fiscal year.
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-releases-fy17-earnings-guidance.html
Several analysts have commented on APOG shares. Zacks Investment Research raised Apogee Enterprises from a sell rating to a hold rating in a report on Tuesday, June 7th. Goldman Sachs Group Inc. lowered Apogee Enterprises from a buy rating to a neutral rating and dropped their price objective for the company from $53.00 to $50.00 in a report on Monday, July 11th. Finally, DA Davidson reissued a buy rating and issued a $56.00 price objective on shares of Apogee Enterprises in a report on Tuesday.
In related news, Director Sara L. Hays sold 2,000 shares of Apogee Enterprises stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $47.00, for a total transaction of $94,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert J. Marzec sold 3,000 shares of Apogee Enterprises stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $48.04, for a total value of $144,120.00. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the company. Picton Mahoney Asset Management acquired a new stake in Apogee Enterprises during the second quarter worth approximately $2,768,000. WBI Investments Inc. purchased a new stake in shares of Apogee Enterprises during the second quarter worth $3,082,000. FMR LLC boosted its stake in shares of Apogee Enterprises by 6.3% in the second quarter. FMR LLC now owns 169,127 shares of the company’s stock worth $7,839,000 after buying an additional 10,079 shares during the last quarter. Lebenthal Asset Management LLC purchased a new stake in shares of Apogee Enterprises during the second quarter worth $2,332,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Apogee Enterprises during the second quarter worth $255,000. Hedge funds and other institutional investors own 98.28% of the company’s stock.
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.
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.