APi Group (NYSE:APG) Announces Quarterly Earnings Results

APi Group (NYSE:APG - Get Free Report) released its quarterly earnings results on Thursday. The company reported $0.51 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.51, Briefing.com reports. The company had revenue of $1.83 billion during the quarter, compared to analysts' expectations of $1.87 billion. APi Group had a net margin of 2.81% and a return on equity of 36.53%. The business's quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 earnings per share. APi Group updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

APi Group Stock Performance

APi Group stock traded up $1.20 on Friday, hitting $35.34. The company's stock had a trading volume of 2,693,056 shares, compared to its average volume of 1,724,475. APi Group has a one year low of $25.51 and a one year high of $39.98. The firm has a market cap of $9.71 billion, a P/E ratio of -17.24 and a beta of 1.55. The company has a quick ratio of 1.38, a current ratio of 1.48 and a debt-to-equity ratio of 1.00. The company has a fifty day moving average price of $33.76 and a 200-day moving average price of $35.70.

Insider Activity

In related news, SVP Louis Lambert sold 6,333 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $32.45, for a total value of $205,505.85. Following the completion of the transaction, the senior vice president now owns 8,100 shares of the company's stock, valued at $262,845. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other APi Group news, SVP Louis Lambert sold 6,333 shares of the company's stock in a transaction on Monday, August 5th. The stock was sold at an average price of $32.45, for a total value of $205,505.85. Following the sale, the senior vice president now directly owns 8,100 shares in the company, valued at $262,845. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ian G. H. Ashken sold 150,000 shares of APi Group stock in a transaction on 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 transaction, the director now directly owns 5,678,779 shares of the company's stock, valued at approximately $187,570,070.37. The trade was 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. Corporate insiders own 18.20% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on APG. Royal Bank of Canada restated a "sector perform" rating and set a $45.00 target price on shares of APi Group in a research note on Friday. Robert W. Baird reduced their price objective on APi Group from $43.00 to $42.00 and set an "outperform" rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. dropped their target price on shares of 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, Barclays reduced their price target 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. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, APi Group 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.