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

APi Group (NYSE:APG) posted its earnings results on Thursday. The company reported $0.51 EPS for the quarter, hitting the consensus estimate of $0.51, Briefing.com reports. APi Group had a return on equity of 36.53% and a net margin of 2.81%. The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period last year, the company earned $0.48 earnings per share. APi Group’s revenue for the quarter was up 2.4% compared to the same quarter last year. APi Group updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

APi Group Price Performance

Shares of APG traded up $1.20 during mid-day trading on Friday, hitting $35.34. 2,692,957 shares of the company were exchanged, compared to its average volume of 1,724,474. The stock has a market cap of $9.71 billion, a price-to-earnings ratio of -17.19 and a beta of 1.55. APi Group has a 1-year low of $25.51 and a 1-year high of $39.98. The company has a 50 day moving average of $33.77 and a 200-day moving average of $35.73. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.38 and a current ratio of 1.48.

Insider Buying and Selling

In other news, Director Martin E. Franklin sold 178,346 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $35.26, for a total value of $6,288,479.96. Following the transaction, the director now owns 14,267,479 shares in the company, valued at $503,071,309.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other APi Group news, Director Ian G. H. Ashken sold 150,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $33.03, for a total value of $4,954,500.00. Following the completion of the sale, the director now owns 5,678,779 shares in the company, valued at approximately $187,570,070.37. This 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 business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $35.26, for a total value of $6,288,479.96. Following the transaction, the director now owns 14,267,479 shares in the company, valued at approximately $503,071,309.54. This represents 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 have sold 340,358 shares of company stock worth $11,653,157. Insiders own 18.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on APG shares. 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, August 2nd. Barclays cut their price objective on shares of APi Group from $44.00 to $43.00 and set an “overweight” rating for the company in a report on Monday, August 5th. JPMorgan Chase & Co. dropped their target price on APi Group from $37.00 to $34.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $45.00 price target on shares of APi Group in a research note on Friday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.86.

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.