Apogee Enterprises (APOG) Stock Declines While Market Improves: Some Information for Investors
Apogee Enterprises (APOG) closed at $46.54 in the latest trading session, marking a -0.49% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.16%. On the other hand, the Dow registered a gain of 0.47%, and the technology-centric Nasdaq increased by 0.07%.
Shares of the glass products company have appreciated by 3.73% over the course of the past month, outperforming the Industrial Products sector's loss of 3.78% and lagging the S&P 500's gain of 4.02%.
The investment community will be paying close attention to the earnings performance of Apogee Enterprises in its upcoming release. In that report, analysts expect Apogee Enterprises to post earnings of $1.05 per share. This would mark a year-over-year decline of 1.87%. In the meantime, our current consensus estimate forecasts the revenue to be $360.91 million, indicating a 1.89% decline compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.49 per share and a revenue of $1.43 billion, indicating changes of +12.81% and -0.74%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Apogee Enterprises. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Currently, Apogee Enterprises is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, Apogee Enterprises currently has a Forward P/E ratio of 10.42. This represents a premium compared to its industry's average Forward P/E of 6.17.
The Glass Products industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 166, positioning it in the bottom 35% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Apogee Enterprises, Inc. (APOG) : Free Stock Analysis Report
