Apogee Enterprises, Inc. (APOG) to Issue Quarterly Dividend of $0.26 on February 12th

Apogee Enterprises, Inc. (NASDAQ:APOG) declared a quarterly dividend on Wednesday, January 8th,RTT News reports. Shareholders of record on Tuesday, January 28th will be paid a dividend of 0.26 per share by the industrial products company on Wednesday, February 12th. This represents a $1.04 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Tuesday, January 28th. This is a positive change from Apogee Enterprises’s previous quarterly dividend of $0.25.

Apogee Enterprises has raised its dividend payment by an average of 7.7% per year over the last three years and has raised its dividend every year for the last 14 years. Apogee Enterprises has a payout ratio of 22.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Apogee Enterprises to earn $4.43 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 23.5%.

Apogee Enterprises Stock Down 1.2 %

Shares of NASDAQ APOG opened at $55.04 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.27 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average of $71.34 and a 200-day moving average of $70.30. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 12.29 and a beta of 1.04. Apogee Enterprises has a 12 month low of $49.58 and a 12 month high of $87.93.

Apogee Enterprises (NASDAQ:APOG) last released its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. The business had revenue of $341.30 million during the quarter, compared to analysts’ expectations of $332.27 million. Apogee Enterprises had a net margin of 7.14% and a return on equity of 23.14%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.23 EPS. Sell-side analysts expect that Apogee Enterprises will post 4.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Singular Research upgraded Apogee Enterprises to a “moderate buy” rating in a research report on Tuesday, January 14th. StockNews.com cut Apogee Enterprises from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 9th. Sidoti raised Apogee Enterprises from a “neutral” rating to a “buy” rating in a research note on Friday, January 10th. Finally, DA Davidson reduced their price target on shares of Apogee Enterprises from $75.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th.

About Apogee Enterprises

Apogee Enterprises, Inc provides architectural products and services for enclosing buildings, and glass and acrylic products used for preservation, protection, and enhanced viewing in the United States, Canada, and Brazil. The company operates in four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical (LSO).