APi Group (NYSE:APG) Announces Quarterly Earnings Results

APi Group (NYSE:APG) issued its quarterly earnings data on Thursday. The company reported $0.49 earnings per share (EPS) 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 company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter last year, the company earned $0.41 earnings per share. APi Group’s revenue for the quarter was down 2.3% on a year-over-year basis. APi Group updated its Q3 2024 guidance to EPS.

APi Group Stock Down 5.3 %

NYSE:APG traded down $1.92 on Friday, hitting $34.33. 3,159,687 shares of the company’s stock traded hands, compared to its average volume of 1,473,155. The company has a current ratio of 1.35, a quick ratio of 1.26 and a debt-to-equity ratio of 1.14. APi Group has a 1 year low of $24.61 and a 1 year high of $39.98. The firm has a 50-day moving average price of $37.23 and a 200-day moving average price of $36.79. The company has a market cap of $9.42 billion, a PE ratio of -15.97, a price-to-earnings-growth ratio of 1.06 and a beta of 1.57.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Citigroup increased their price objective on shares of APi Group from $43.00 to $47.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Robert W. Baird lowered their price objective on shares of APi Group from $43.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday. JPMorgan Chase & Co. lowered their price objective 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, Royal Bank of Canada increased their target price on APi Group from $36.00 to $45.00 and gave the company a “sector perform” rating in a research note on Monday, April 8th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.00.

Insider Buying and Selling at APi Group

In other APi Group news, major shareholder Global Investors Lp Viking sold 1,951,782 shares of APi Group 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 value of $74,460,483.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ian G. H. Ashken sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $37.21, for a total value of $5,581,500.00. Following the completion of the sale, the director now directly owns 5,828,779 shares of the company’s stock, valued at approximately $216,888,866.59. The disclosure for this sale can be found here. Company insiders own 16.40% 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.