APi Group (NYSE:APG) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

APi Group (NYSE:APG) issued its quarterly earnings results on Thursday. The company reported $0.49 EPS for the quarter, beating the consensus estimate 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 net margin of 2.81% and a return on equity of 39.16%. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 EPS. APi Group updated its Q3 2024 guidance to EPS.

APi Group Stock Down 5.3 %

Shares of APG traded down $1.92 during mid-day trading on Friday, hitting $34.33. 3,159,687 shares of the company’s stock were exchanged, compared to its average volume of 1,473,155. The firm has a fifty day moving average of $37.23 and a two-hundred day moving average of $36.79. APi Group has a twelve month low of $24.61 and a twelve month high of $39.98. The stock has a market cap of $9.42 billion, a price-to-earnings ratio of -15.97, a P/E/G ratio of 1.06 and a beta of 1.57. The company has a quick ratio of 1.26, a current ratio of 1.35 and a debt-to-equity ratio of 1.14.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on APG shares. Royal Bank of Canada upped their price target on shares of APi Group from $36.00 to $45.00 and gave the company a “sector perform” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. dropped their price objective on shares of APi Group from $37.00 to $34.00 and set a “neutral” rating on the stock in a research note on Friday. Robert W. Baird dropped their price objective on shares of APi Group from $43.00 to $42.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Citigroup upped their price objective on shares of APi Group from $43.00 to $47.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $44.00.

Insider Transactions at APi Group

In other news, Director Ian G. H. Ashken sold 150,000 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $37.21, for a total transaction of $5,581,500.00. Following the transaction, the director now 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 accessible through the SEC website. In related news, major shareholder Global Investors Lp Viking sold 1,951,782 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $38.15, for a total value of $74,460,483.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ian G. H. Ashken sold 150,000 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $37.21, for a total transaction of $5,581,500.00. Following the completion of the transaction, 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. 16.40% of the stock is currently owned by company insiders.

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.