Apogee Enterprises, Inc. recently released its Q2 FY24 earnings report, showcasing a 5% year-over-year decline in sales, which totaled $353.675 million. This figure fell short of the consensus estimate of $372.01 million. However, the company did experience a significant boost in adjusted EPS, which rose by 28% to $1.36, surpassing the consensus estimate of $1.12.
The company’s gross profit also saw a notable increase, rising by 12.3% to $95.37 million. This resulted in a gross margin of 27.0%, a significant improvement from the previous year’s margin of 22.8%, representing a 420 basis point increase. The surge in gross margin can be attributed to higher margins in both the Architectural Framing Systems and Architectural Glass divisions, as well as the increased presence of Architectural Glass in the company’s overall results.
Adjusted EBITDA also witnessed a substantial jump, rising by 20.3% to $51.15 million, further highlighting Apogee Enterprises‘ strong performance during this period.
Looking ahead, the company has provided its adjusted EPS outlook for FY24, which is expected to range between $4.35 and $4.65. This projection exceeds the analyst consensus of $4.28, and it represents an upward revision from the company’s previous EPS outlook of $4.15 to $4.45.
Despite the positive earnings results, Apogee Enterprises anticipates flat to slightly declining net sales compared to the previous fiscal year, indicating potential challenges in the market. Additionally, the company expects a long-term average tax rate of approximately 24.5% and plans to allocate capital expenditures in fiscal 2024 between $50 million and $60 million.
Overall, Apogee Enterprises’ Q2 FY24 earnings report showcases a mix of positive and negative results, with strong adjusted EPS and gross profit growth offset by a decline in sales. The company remains cautiously optimistic about its future performance, considering the expected challenges in net sales and the need for continued investment in capital expenditures.
Apogee Enterprises, Inc.
Updated on: 19/09/2023
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
2:00 AM (UTC)
Date:19 September, 2023
|Analyst / firm||Rating|
APOG Stock: Stable Performance and Promising Growth in the Building Products Industry
On September 19, 2023, APOG stock had a mixed performance. The stock opened at $48.67, slightly lower than the previous day’s closing price of $49.45. Throughout the day, the stock traded within a range of $48.49 to $49.47. The volume of shares traded was 6,321, which is significantly lower than the average volume of 146,964 over the past three months.
APOG has a market capitalization of $1.1 billion. The earnings growth for the company has been impressive, with a growth rate of 3,281.42% in the last year and a projected growth rate of 7.44% for this year. Looking ahead, APOG is expected to maintain a steady earnings growth rate of 10.00% over the next five years.
The revenue growth for APOG in the last year was 9.64%. The company has a relatively low P/E ratio of 10.5, suggesting that the stock may be undervalued compared to its earnings. The price/sales ratio is 0.71, which is also relatively low, indicating that the stock may be trading at a discount compared to its sales.
APOG’s price/book ratio is 2.70, which suggests that the stock is trading at a premium compared to its book value. However, this ratio should be interpreted in the context of the industry and sector in which the company operates.
On September 19, 2023, APOG stock did not experience any significant changes in price. Opt-Sciences Corp and WedoTalk Inc also did not show any changes in their stock prices. However, PHOTGrowLife Inc saw a decrease of 33.33% in its stock price.
APOG operates in the producer manufacturing sector, specifically in the building products industry. The company is headquartered in Minneapolis, Minnesota.
In summary, APOG stock had a relatively stable performance on September 19, 2023. The company has shown impressive earnings and revenue growth in recent years and is expected to continue growing in the future. Investors should carefully consider the company’s valuation metrics and industry dynamics before making any investment decisions.
Apogee Enterprises Inc: Analysts Forecast Potential Stock Price Increase in Next 12 Months
Apogee Enterprises Inc, a leading provider of architectural glass and metal products, has been attracting the attention of analysts and investors alike. With a current consensus to hold the stock, analysts have provided price forecasts for the next 12 months, shedding light on the potential performance of APOG stock.
According to data from CNN Money, three analysts have offered their 12-month price forecasts for Apogee Enterprises Inc. The median target price is $52.00, with a high estimate of $55.00 and a low estimate of $50.00. This median estimate represents a 5.16% increase from the last recorded price of $49.45.
The positive outlook from analysts suggests that Apogee Enterprises Inc may experience growth in the coming months. This is supported by the company’s current financial performance. In the current quarter, Apogee reported earnings per share of $1.11, indicating a strong financial position. Additionally, sales for the quarter reached $362.5 million, further highlighting the company’s success.
Investors should take note of the reporting date for this quarter’s earnings, which is set for December 21. This will provide additional insights into Apogee’s financial performance and may impact the stock’s future trajectory.
It is worth noting that the consensus rating for Apogee Enterprises Inc has remained steady since August, with analysts consistently recommending holding the stock. This suggests that while there is potential for growth, there may also be some uncertainties surrounding the company’s future prospects.
Overall, Apogee Enterprises Inc appears to be in a favorable position, with analysts forecasting a potential increase in stock price over the next 12 months. However, investors should exercise caution and closely monitor the company’s financial performance and any updates from analysts leading up to the reporting date.