APi Group (NYSE:APG) Issues Quarterly Earnings Results

APi Group (NYSE:APG) announced its quarterly earnings results on Thursday. The company reported $0.51 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.51, Briefing.com reports. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.87 billion. APi Group had a net margin of 2.81% and a return on equity of 36.53%. The company’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.48 EPS. APi Group updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

APi Group Stock Up 3.5 %

NYSE:APG traded up $1.20 during trading hours on Friday, reaching $35.34. 2,693,056 shares of the company traded hands, compared to its average volume of 1,724,475. The company has a current ratio of 1.48, a quick ratio of 1.38 and a debt-to-equity ratio of 1.00. The business’s 50-day moving average price is $33.77 and its two-hundred day moving average price is $35.73. APi Group has a 1 year low of $25.51 and a 1 year high of $39.98. The stock has a market capitalization of $9.71 billion, a P/E ratio of -17.19 and a beta of 1.55.

Insider Transactions at APi Group

In other news, SVP Louis Lambert sold 5,679 shares of APi Group stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $36.04, for a total value of $204,671.16. Following the completion of the transaction, the senior vice president now owns 2,421 shares of the company’s stock, valued at $87,252.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other APi Group news, SVP Louis Lambert sold 5,679 shares of APi Group stock in a transaction on Monday, August 26th. The stock was sold at an average price of $36.04, for a total value of $204,671.16. Following the completion of the sale, the senior vice president now owns 2,421 shares of the company’s stock, valued at approximately $87,252.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Martin E. Franklin sold 178,346 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $35.26, for a total value of $6,288,479.96. Following the sale, the director now directly owns 14,267,479 shares in the company, valued at $503,071,309.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 340,358 shares of company stock valued at $11,653,157. Insiders own 18.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on APG. Robert W. Baird reduced their price target on APi Group from $43.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Royal Bank of Canada reissued a “sector perform” rating and set a $45.00 target price on shares of APi Group in a research note on Friday. JPMorgan Chase & Co. dropped their price target on APi Group from $37.00 to $34.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Barclays reduced their price objective on shares of APi Group from $44.00 to $43.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.86.

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.