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

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

APi Group Stock Performance

Shares of APG stock traded down $1.92 on Friday, hitting $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 company has a debt-to-equity ratio of 1.14, a quick ratio of 1.26 and a current ratio of 1.35. The stock’s 50 day moving average is $37.23 and its 200-day moving average is $36.79. APi Group has a fifty-two week low of $24.61 and a fifty-two week high of $39.98. The company has a market capitalization of $9.42 billion, a PE ratio of -15.97, a PEG ratio of 1.06 and a beta of 1.57.

Insider Activity at APi Group

In related news, major shareholder Global Investors Lp Viking sold 1,951,782 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $38.15, for a total transaction of $74,460,483.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Ian G. H. Ashken sold 150,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $37.21, for a total transaction of $5,581,500.00. Following the completion of the sale, the director now owns 5,828,779 shares of the company’s stock, valued at $216,888,866.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 corporate insiders.

Analyst Upgrades and Downgrades

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