Apogee Enterprises (APOG) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest market close, Apogee Enterprises (APOG) reached $43.57, with a -0.48% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily gain of 1.89%. Meanwhile, the Dow experienced a rise of 1.7%, and the technology-dominated Nasdaq saw an increase of 1.78%.
The glass products company's stock has dropped by 3.52% in the past month, falling short of the Industrial Products sector's loss of 2.24% and the S&P 500's gain of 0.8%.
Market participants will be closely following the financial results 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $360.91 million, down 1.89% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.49 per share and a revenue of $1.43 billion, representing changes of +12.81% and -0.74%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Apogee Enterprises. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 0.22% rise in the Zacks Consensus EPS estimate. At present, Apogee Enterprises boasts a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Apogee Enterprises has a Forward P/E ratio of 9.7 right now. Its industry sports an average Forward P/E of 5.97, so one might conclude that Apogee Enterprises is trading at a premium comparatively.
The Glass Products industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 94, placing it within the top 38% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Apogee Enterprises, Inc. (APOG) : Free Stock Analysis Report
