Apogee Enterprises (APOG) Gains As Market Dips: What You Should Know
Apogee Enterprises (APOG) closed the most recent trading day at $49.78, moving +0.26% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.28%. At the same time, the Dow lost 0.51%, and the tech-heavy Nasdaq gained 0.06%.
Heading into today, shares of the glass products company had gained 7.82% over the past month, outpacing the Industrial Products sector's loss of 4.4% and the S&P 500's loss of 2.85% in that time.
Investors will be hoping for strength from Apogee Enterprises as it approaches its next earnings release. In that report, analysts expect Apogee Enterprises to post earnings of $1.01 per share. This would mark a year-over-year decline of 4.72%. Meanwhile, our latest consensus estimate is calling for revenue of $366.53 million, down 1.5% from the prior-year quarter.
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.
Investors might also notice recent changes to analyst estimates for Apogee Enterprises. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Apogee Enterprises is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that Apogee Enterprises has a Forward P/E ratio of 11.75 right now. For comparison, its industry has an average Forward P/E of 7.69, which means Apogee Enterprises is trading at a premium to the group.
The Glass Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 20, putting it in the top 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Apogee Enterprises, Inc. (APOG) : Free Stock Analysis Report
