Apogee Enterprises (APOG) Stock Moves -0.47%: What You Should Know
In the latest trading session, Apogee Enterprises (APOG) closed at $48.50, marking a -0.47% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.57%. Elsewhere, the Dow lost 0.05%, while the tech-heavy Nasdaq lost 1.04%.
Heading into today, shares of the glass products company had lost 2.46% over the past month, lagging the Industrial Products sector's loss of 1.68% and the S&P 500's gain of 0.64% in that time.
Investors will be hoping for strength from Apogee Enterprises as it approaches its next earnings release, which is expected to be September 19, 2023. 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $366.53 million, down 1.5% from the year-ago period.
APOG's full-year Zacks Consensus Estimates are calling for earnings of $4.23 per share and revenue of $1.43 billion. These results would represent year-over-year changes of +6.28% and +3.15%, respectively.
Investors might also notice recent changes to analyst estimates for Apogee Enterprises. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Apogee Enterprises currently has a Zacks Rank of #4 (Sell).
Looking at its valuation, Apogee Enterprises is holding a Forward P/E ratio of 11.53. Its industry sports an average Forward P/E of 7.8, 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 43, putting it in the top 18% 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
