Apogee Enterprises (APOG) Dips More Than Broader Markets: What You Should Know
Apogee Enterprises (APOG) closed the most recent trading day at $48.72, moving -1.4% from the previous trading session. This change lagged the S&P 500's daily loss of 0.7%. Meanwhile, the Dow lost 0.57%, and the Nasdaq, a tech-heavy index, lost 1.06%.
Prior to today's trading, shares of the glass products company had lost 0.74% over the past month. This has lagged the Industrial Products sector's loss of 0.43% and the S&P 500's gain of 0.58% in that time.
Investors will be hoping for strength from Apogee Enterprises as it approaches its next earnings release. On that day, Apogee Enterprises is projected to report earnings of $1.01 per share, which would represent a year-over-year decline of 4.72%. Our most recent consensus estimate is calling for quarterly revenue of $366.53 million, down 1.5% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.23 per share and revenue of $1.43 billion. These totals would mark changes of +6.28% and -0.42%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Apogee Enterprises. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Apogee Enterprises is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, Apogee Enterprises currently has a Forward P/E ratio of 11.69. Its industry sports an average Forward P/E of 8.24, so we one might conclude that Apogee Enterprises is trading at a premium comparatively.
The Glass Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 49, putting it in the top 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Apogee Enterprises, Inc. (APOG) : Free Stock Analysis Report
