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

APi Group (NYSE:APG) announced its earnings results on Thursday. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.02, Briefing.com reports. APi Group had a net margin of 2.81% and a return on equity of 39.16%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the prior year, the firm earned $0.41 earnings per share. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. APi Group updated its Q3 2024 guidance to EPS.

APi Group Stock Performance

APi Group stock traded down $1.92 during mid-day trading on Friday, reaching $34.33. The company’s stock had a trading volume of 3,159,687 shares, compared to its average volume of 1,473,155. The firm has a market cap of $9.42 billion, a price-to-earnings ratio of -15.97, a PEG ratio of 1.06 and a beta of 1.57. APi Group has a twelve month low of $24.61 and a twelve month high of $39.98. The business has a 50 day moving average price of $37.23 and a 200-day moving average price of $36.79. 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 Transactions at APi Group

In related news, major shareholder Global Investors Lp Viking sold 1,951,782 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $38.15, for a total transaction of $74,460,483.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other 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 transaction of $5,581,500.00. Following the completion of the transaction, the director now directly owns 5,828,779 shares in the company, valued at $216,888,866.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Global Investors Lp Viking sold 1,951,782 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $38.15, for a total value of $74,460,483.30. The disclosure for this sale can be found here. Insiders own 16.40% of the company’s stock.

Analysts Set New Price Targets

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

APi Group Company Profile

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.