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

APi Group (NYSE:APG) posted its quarterly earnings results on Thursday. The company reported $0.51 earnings per share for the quarter, meeting the consensus estimate 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 firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.48 earnings per share. APi Group updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

APi Group Price Performance

APG stock traded up $1.20 during mid-day trading 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 fifty day moving average price of $33.77 and a 200-day moving average price of $35.73. 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 has a market capitalization of $9.71 billion, a P/E ratio of -17.19 and a beta of 1.55. APi Group has a 52-week low of $25.51 and a 52-week high of $39.98.

Insiders Place Their Bets

In other news, SVP Louis Lambert sold 5,679 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $36.04, for a total transaction 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 approximately $87,252.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Ian G. H. Ashken sold 150,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $33.03, for a total value of $4,954,500.00. Following the transaction, the director now owns 5,678,779 shares of the company’s stock, valued at $187,570,070.37. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the senior vice president now directly 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 disclosure for this sale can be found here. Insiders have sold 340,358 shares of company stock worth $11,653,157 in the last three months. 18.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on APG. Barclays decreased 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. JPMorgan Chase & Co. lowered their target price on APi Group from $37.00 to $34.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $45.00 price target on shares of APi Group in a research note on Friday. Finally, Robert W. Baird lowered their price objective on APi Group from $43.00 to $42.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.