Apogee Enterprises (APOG) Dips More Than Broader Market: What You Should Know
Apogee Enterprises (APOG) closed the latest trading day at $54.81, indicating a -0.67% change from the previous session's end. This change lagged the S&P 500's daily loss of 0.48%. On the other hand, the Dow registered a loss of 0.37%, and the technology-centric Nasdaq decreased by 0.82%.
Heading into today, shares of the glass products company had gained 3.39% over the past month, lagging the Industrial Products sector's gain of 6.35% and the S&P 500's gain of 5.3% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Apogee Enterprises in its upcoming earnings disclosure. The company is expected to report EPS of $0.97, up 12.79% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $342.87 million, indicating a 0.36% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $4.61 per share and a revenue of $1.4 billion, demonstrating changes of +15.83% and -2.97%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Apogee Enterprises. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Apogee Enterprises is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Apogee Enterprises currently has a Forward P/E ratio of 11.98. This signifies a premium in comparison to the average Forward P/E of 9.39 for its industry.
The Glass Products industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 199, positioning it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Apogee Enterprises, Inc. (APOG) : Free Stock Analysis Report
