Apogee Enterprises, Inc. (NASDAQ:APOG - Get Free Report)'s stock price gapped up before the market opened on Friday following a stronger than expected earnings report. The stock had previously closed at $39.67, but opened at $48.86. Apogee Enterprises shares last traded at $41.99, with a volume of 429,590 shares changing hands.
The industrial products company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.11. Apogee Enterprises had a net margin of 3.73% and a return on equity of 17.79%. The firm had revenue of $346.62 million during the quarter, compared to the consensus estimate of $326.08 million. During the same quarter last year, the firm earned $1.44 EPS. The firm's revenue for the quarter was up 4.6% on a year-over-year basis.
Apogee Enterprises Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Wednesday, July 16th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend is Wednesday, July 16th. Apogee Enterprises's payout ratio is 26.80%.
Analysts Set New Price Targets
Separately, Wall Street Zen lowered shares of Apogee Enterprises from a "buy" rating to a "hold" rating in a research note on Friday, April 25th.
Check Out Our Latest Report on APOG
Hedge Funds Weigh In On Apogee Enterprises
Institutional investors and hedge funds have recently made changes to their positions in the stock. New Age Alpha Advisors LLC purchased a new position in Apogee Enterprises in the fourth quarter worth approximately $40,000. Public Employees Retirement System of Ohio acquired a new position in shares of Apogee Enterprises in the 4th quarter valued at $42,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Apogee Enterprises in the 1st quarter valued at $44,000. Meeder Asset Management Inc. purchased a new position in shares of Apogee Enterprises in the 4th quarter valued at $57,000. Finally, Quarry LP raised its stake in Apogee Enterprises by 3,991.1% during the 1st quarter. Quarry LP now owns 1,841 shares of the industrial products company's stock worth $85,000 after acquiring an additional 1,796 shares in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.
Apogee Enterprises Trading Down 3.3%
The company has a quick ratio of 1.36, a current ratio of 1.77 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $875.74 million, a PE ratio of 17.35 and a beta of 0.97. The business's 50-day moving average is $39.97 and its two-hundred day moving average is $48.74.
Apogee Enterprises Company Profile
(
Get Free Report)
Apogee Enterprises, Inc provides architectural products and services for enclosing buildings, and glass and acrylic products used for preservation, protection, and enhanced viewing in the United States, Canada, and Brazil. The company operates in four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical (LSO).
Featured Stories
Before you consider Apogee Enterprises, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Apogee Enterprises wasn't on the list.
While Apogee Enterprises currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
