Apogee Enterprises, Inc. (NASDAQ:APOG) Declares Quarterly Dividend of $0.26

Apogee Enterprises, Inc. (NASDAQ:APOG) announced a quarterly dividend on Thursday, January 9th,RTT News reports. Stockholders of record on Tuesday, January 28th will be given a dividend of 0.26 per share by the industrial products company on Wednesday, February 12th. This represents a $1.04 annualized dividend and a dividend yield of 1.98%. This is an increase from Apogee Enterprises’s previous quarterly dividend of $0.25.

Apogee Enterprises has increased its dividend payment by an average of 7.7% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. Apogee Enterprises has a dividend payout ratio of 22.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Apogee Enterprises to earn $4.69 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 22.2%.

Apogee Enterprises Stock Down 8.8 %

Shares of APOG opened at $52.52 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.65 and a debt-to-equity ratio of 0.12. The business has a fifty day moving average of $77.45 and a 200 day moving average of $70.72. The company has a market cap of $1.15 billion, a PE ratio of 11.06 and a beta of 1.04. Apogee Enterprises has a 52-week low of $51.15 and a 52-week high of $87.93.

Apogee Enterprises (NASDAQ:APOG) last announced its earnings results on Tuesday, January 7th. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.08. Apogee Enterprises had a return on equity of 24.12% and a net margin of 7.58%. The business had revenue of $341.30 million during the quarter, compared to analyst estimates of $332.27 million. During the same quarter in the previous year, the business earned $1.23 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. On average, sell-side analysts expect that Apogee Enterprises will post 5.06 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on APOG shares. DA Davidson reduced their target price on Apogee Enterprises from $75.00 to $62.00 and set a “neutral” rating on the stock in a research note on Wednesday. StockNews.com lowered shares of Apogee Enterprises from a “strong-buy” rating to a “buy” rating in a report on Thursday.

Apogee Enterprises Company Profile

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).