Canaccord Genuity Maintains a 'Buy' on Apogee Enterprises (APOG); Updating Estimates Post-FQ4
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Price: $60.81 -2.33%
Rating Summary:
2 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Rating Summary:
2 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
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Canaccord Genuity maintains a 'Buy' on Apogee Enterprises (NASDAQ: APOG), PT $17.
Canaccord analyst says, "Continued stabilization in Apogee’s architectural glass revenue and an unexpected increase in the firm’s architectural backlog reinforce our view that conditions within the nonresidential construction market are slowly but surely improving. Although we temper our F2012 forecast for APOG, we anticipate the company will start to show meaningful improvement later in F2012 and into F2013...Specifically, we lower our F2012 revenue estimate to $630M, from $655M previously, as we anticipate a slower revenue ramp this fiscal year."
"In light of our reduced revenue estimate for F2012, we lower our F2012 EPS
estimate to $(0.11) from $(0.02) previously. We note that our adj. EBITDA
estimate remains basically unchanged at $30M. We also maintain our F2013 revenue/adj. EBITDA/EPS estimates of $720M/$60M/$0.56, respectively."
For more ratings news on Apogee Enterprises click here and for the rating history of Apogee Enterprises click here.
Shares of Apogee Enterprises closed at $13.67 yesterday.
Canaccord analyst says, "Continued stabilization in Apogee’s architectural glass revenue and an unexpected increase in the firm’s architectural backlog reinforce our view that conditions within the nonresidential construction market are slowly but surely improving. Although we temper our F2012 forecast for APOG, we anticipate the company will start to show meaningful improvement later in F2012 and into F2013...Specifically, we lower our F2012 revenue estimate to $630M, from $655M previously, as we anticipate a slower revenue ramp this fiscal year."
"In light of our reduced revenue estimate for F2012, we lower our F2012 EPS
estimate to $(0.11) from $(0.02) previously. We note that our adj. EBITDA
estimate remains basically unchanged at $30M. We also maintain our F2013 revenue/adj. EBITDA/EPS estimates of $720M/$60M/$0.56, respectively."
For more ratings news on Apogee Enterprises click here and for the rating history of Apogee Enterprises click here.
Shares of Apogee Enterprises closed at $13.67 yesterday.
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