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

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

APi Group Stock Down 5.3 %

NYSE:APG traded down $1.92 during trading hours on Friday, hitting $34.33. 3,159,687 shares of the company traded hands, compared to its average volume of 1,473,155. The company has a quick ratio of 1.26, a current ratio of 1.35 and a debt-to-equity ratio of 1.14. The firm’s 50-day simple moving average is $37.23 and its 200-day simple moving average is $36.76. APi Group has a one year low of $24.61 and a one year high of $39.98. The company has a market cap of $9.42 billion, a PE ratio of -15.96, a PEG ratio of 1.06 and a beta of 1.57.

Analysts Set New Price Targets

Several brokerages have commented on APG. Robert W. Baird lowered their target price on APi Group from $43.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday. Citigroup boosted their price target on APi Group from $43.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, April 8th. JPMorgan Chase & Co. reduced their target price on APi Group from $37.00 to $34.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Royal Bank of Canada upped their target price on APi Group from $36.00 to $45.00 and gave the company a “sector perform” rating in a report on Monday, April 8th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock 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, Director Ian G. H. Ashken sold 150,000 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $37.21, for a total transaction of $5,581,500.00. Following the transaction, the director now directly owns 5,828,779 shares in the company, valued at approximately $216,888,866.59. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, major shareholder Global Investors Lp Viking sold 1,951,782 shares of APi Group stock in a transaction on 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 can be accessed through this hyperlink. Also, Director Ian G. H. Ashken sold 150,000 shares of APi Group stock in a transaction on Monday, May 6th. The stock was sold at an average price of $37.21, for a total value of $5,581,500.00. Following the sale, the director now owns 5,828,779 shares in the company, valued at $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.