Apogee Enterprises (NASDAQ:APOG) Releases FY 2023 Earnings Guidance

Apogee Enterprises (NASDAQ:APOGGet Rating) issued an update on its FY 2023 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $3.50-$3.90 for the period, compared to the consensus estimate of $3.08. The company issued revenue guidance of -.

NASDAQ APOG traded up $1.88 during trading hours on Thursday, reaching $39.75. 10,849 shares of the stock traded hands, compared to its average volume of 207,205. The stock has a 50 day simple moving average of $42.52 and a two-hundred day simple moving average of $44.98. Apogee Enterprises has a 1 year low of $33.88 and a 1 year high of $50.44. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.45 and a quick ratio of 1.10. The company has a market cap of $882.45 million, a price-to-earnings ratio of 372.31 and a beta of 1.12.

Apogee Enterprises (NASDAQ:APOGGet Rating) last released its quarterly earnings results on Thursday, April 7th. The industrial products company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.17. Apogee Enterprises had a return on equity of 13.65% and a net margin of 0.27%. The business had revenue of $328.00 million for the quarter, compared to the consensus estimate of $322.02 million. During the same quarter last year, the business posted $0.63 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, sell-side analysts forecast that Apogee Enterprises will post 3.05 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 25th. Stockholders of record on Tuesday, May 10th were paid a dividend of $0.22 per share. The ex-dividend date was Monday, May 9th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.21%. Apogee Enterprises’s dividend payout ratio (DPR) is currently 800.07%.

Several analysts recently issued reports on the company. Craig Hallum cut Apogee Enterprises from a buy rating to a hold rating and cut their target price for the stock from $54.00 to $47.00 in a research note on Friday, April 8th. StockNews.com raised Apogee Enterprises from a hold rating to a buy rating in a research note on Friday, April 22nd. Finally, TheStreet cut Apogee Enterprises from a b- rating to a c+ rating in a research note on Monday, April 11th.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Apogee Enterprises by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 2,868,027 shares of the industrial products company’s stock worth $136,117,000 after acquiring an additional 182,687 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Apogee Enterprises by 0.5% in the 1st quarter. Bank of New York Mellon Corp now owns 364,212 shares of the industrial products company’s stock worth $17,285,000 after acquiring an additional 1,767 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Apogee Enterprises by 1.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 349,592 shares of the industrial products company’s stock worth $16,592,000 after acquiring an additional 5,114 shares during the last quarter. Invesco Ltd. grew 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 purchasing an additional 8,078 shares during the period. Finally, Rhumbline Advisers grew 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 purchasing an additional 404 shares during the period. Institutional investors own 89.52% of the company’s stock.

Apogee Enterprises Company Profile (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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Earnings History and Estimates for Apogee Enterprises (NASDAQ:APOG)

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