APi Group (NYSE:APG) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

APi Group (NYSE:APG) announced its quarterly earnings results on Thursday. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02, Briefing.com reports. APi Group had a net margin of 2.49% and a return on equity of 37.83%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter last year, the firm earned $0.41 EPS. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. APi Group updated its Q3 2024 guidance to EPS.

APi Group Trading Down 5.3 %

Shares of NYSE APG traded down $1.93 during mid-day trading on Friday, reaching $34.32. The company had a trading volume of 3,159,677 shares, compared to its average volume of 1,806,626. The stock has a market cap of $9.41 billion, a price-to-earnings ratio of -15.97, a price-to-earnings-growth ratio of 1.11 and a beta of 1.57. APi Group has a 52 week low of $24.61 and a 52 week high of $39.98. The business’s 50-day moving average is $37.27 and its 200-day moving average is $36.74. The company has a current ratio of 1.35, a quick ratio of 1.26 and a debt-to-equity ratio of 1.14.

Insider Activity at APi Group

In related news, Director Ian G. H. Ashken sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $37.21, for a total value of $5,581,500.00. Following the completion of the sale, the director now owns 5,828,779 shares in the company, valued at $216,888,866.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Ian G. H. Ashken sold 150,000 shares of APi Group stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $37.21, for a total value of $5,581,500.00. Following the completion of the sale, the director now directly owns 5,828,779 shares in the company, valued at $216,888,866.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Global Investors Lp Viking sold 1,951,782 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $38.15, for a total transaction of $74,460,483.30. The disclosure for this sale can be found here. 16.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Robert W. Baird lowered their price objective on APi Group from $43.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday. Citigroup raised their price target on APi Group from $43.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Royal Bank of Canada boosted their price objective on shares of APi Group from $36.00 to $45.00 and gave the company a “sector perform” rating in a research report on Monday, April 8th. Finally, JPMorgan Chase & Co. lowered their target price on shares of APi Group from $37.00 to $34.00 and set a “neutral” rating for the company in a report on Friday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.00.

About APi Group

APi Group Corporation provides safety and specialty services worldwide. It operates through Safety Services and Specialty Services segments. The Safety Services segment offers solutions focusing on end-to-end integrated occupancy systems, such as fire protection services; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, and service of these integrated systems.