APi Group (NYSE:APG) Posts Earnings Results, Meets Expectations

APi Group (NYSE:APG) issued its quarterly earnings results on Thursday. The company reported $0.51 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.51, Briefing.com reports. The company had revenue of $1.83 billion during 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 business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.48 EPS. APi Group updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

APi Group Stock Performance

Shares of NYSE APG traded up $1.08 during trading hours on Friday, hitting $35.22. 962,142 shares of the stock were exchanged, compared to its average volume of 1,716,310. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.48 and a quick ratio of 1.38. The company’s 50 day moving average is $33.77 and its 200 day moving average is $35.73. The firm has a market capitalization of $9.67 billion, a P/E ratio of -17.19 and a beta of 1.55. APi Group has a one year low of $25.51 and a one year high of $39.98.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, Director Martin E. Franklin sold 178,346 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $35.26, for a total transaction of $6,288,479.96. Following the completion of the sale, the director now directly owns 14,267,479 shares of the company’s stock, valued at approximately $503,071,309.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Ian G. H. Ashken sold 150,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $33.03, for a total transaction of $4,954,500.00. Following the completion of the transaction, the director now directly owns 5,678,779 shares of the company’s stock, valued at approximately $187,570,070.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Martin E. Franklin sold 178,346 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $35.26, for a total transaction of $6,288,479.96. Following the transaction, the director now directly owns 14,267,479 shares of the company’s stock, valued at $503,071,309.54. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 340,358 shares of company stock valued at $11,653,157. Company insiders own 18.20% of the company’s stock.

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.