Apogee Enterprises (NASDAQ:APOG - Get Rating) updated its FY 2023 earnings guidance on Thursday. The company provided EPS guidance of $3.50-$3.90 for the period, compared to the consensus EPS estimate of $3.08. The company issued revenue guidance of -.
Shares of APOG opened at $37.87 on Thursday. The business's 50-day moving average price is $42.52 and its 200 day moving average price is $44.98. The company has a current ratio of 1.45, a quick ratio of 1.10 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $840.71 million, a P/E ratio of 344.30 and a beta of 1.12. Apogee Enterprises has a 1-year low of $33.88 and a 1-year high of $50.44.
Apogee Enterprises (NASDAQ:APOG - Get Rating) last announced its earnings results on Thursday, April 7th. The industrial products company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.74 by $0.17. Apogee Enterprises had a net margin of 0.27% and a return on equity of 13.65%. The company had revenue of $328.00 million during the quarter, compared to analysts' expectations of $322.02 million. During the same period last year, the company posted $0.63 earnings per share. The business's revenue for the quarter was up 6.3% on a year-over-year basis. On average, research analysts predict that Apogee Enterprises will post 3.05 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 25th. Investors of record on Tuesday, May 10th were given a $0.22 dividend. The ex-dividend date of this dividend was Monday, May 9th. This represents a $0.88 annualized dividend and a dividend yield of 2.32%. Apogee Enterprises's dividend payout ratio (DPR) is presently 800.07%.
Several brokerages recently commented on APOG. Craig Hallum downgraded shares of Apogee Enterprises from a buy rating to a hold rating and reduced their price target for the company from $54.00 to $47.00 in a research report on Friday, April 8th. StockNews.com upgraded shares of Apogee Enterprises from a hold rating to a buy rating in a research report on Friday, April 22nd. Finally, TheStreet downgraded shares of Apogee Enterprises from a b- rating to a c+ rating in a research report on Monday, April 11th.
Hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. lifted its position in Apogee Enterprises by 5.4% in the 1st quarter. Invesco Ltd. now owns 157,623 shares of the industrial products company's stock worth $7,481,000 after buying an additional 8,078 shares in the last quarter. Rhumbline Advisers lifted its position in Apogee Enterprises by 0.6% in the 1st quarter. Rhumbline Advisers now owns 70,989 shares of the industrial products company's stock worth $3,369,000 after buying an additional 404 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Apogee Enterprises by 21.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 51,831 shares of the industrial products company's stock worth $2,460,000 after buying an additional 9,121 shares in the last quarter. Jane Street Group LLC lifted its position in Apogee Enterprises by 404.0% in the 1st quarter. Jane Street Group LLC now owns 28,613 shares of the industrial products company's stock worth $1,358,000 after buying an additional 22,936 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in Apogee Enterprises by 4.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 22,464 shares of the industrial products company's stock worth $1,094,000 after buying an additional 948 shares in the last quarter. Institutional investors own 89.52% of the company's stock.
About Apogee Enterprises (Get Rating)
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 finishes the aluminum frames used in customized aluminum and glass window; curtain wall; storefront; and entrance systems, such as the outside skin and entrances of commercial, institutional, and multi-family residential buildings.
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