Apergy Corp (NYSE:APY) Expected to Earn FY2019 Earnings of $1.40 Per Share

Apergy Corp (NYSE:APY) – Research analysts at Piper Jaffray Companies reduced their FY2019 EPS estimates for Apergy in a research note issued to investors on Sunday, June 23rd, according to Zacks Investment Research. Piper Jaffray Companies analyst I. Macpherson now expects that the company will post earnings of $1.40 per share for the year, down from their prior estimate of $1.45. Piper Jaffray Companies currently has a “Overweight” rating and a $41.03 target price on the stock. Piper Jaffray Companies also issued estimates for Apergy’s Q1 2020 earnings at $0.42 EPS, Q2 2020 earnings at $0.44 EPS and FY2020 earnings at $1.78 EPS.

Several other brokerages have also recently issued reports on APY. Jefferies Financial Group raised SALVATORE FERRA/ADR from an “underperform” rating to a “hold” rating in a research note on Tuesday, June 25th. Citigroup lowered Apergy from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $41.00 to $34.00 in a report on Tuesday, July 9th. Wells Fargo & Co reiterated a “buy” rating on shares of Helmerich & Payne in a report on Thursday, June 27th. Zacks Investment Research upgraded HB Fuller from a “sell” rating to a “hold” rating in a report on Wednesday, July 3rd. Finally, Bank of America reiterated an “underperform” rating and set a $1.25 price objective (down previously from $4.50) on shares of Superior Energy Services in a report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. Apergy has an average rating of “Buy” and a consensus price target of $42.80.

Shares of NYSE APY traded down $0.34 during midday trading on Wednesday, hitting $29.91. The company’s stock had a trading volume of 432,800 shares, compared to its average volume of 503,466. The company has a current ratio of 2.53, a quick ratio of 1.44 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average price is $31.88. Apergy has a 12-month low of $25.85 and a 12-month high of $46.11. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 20.77, a P/E/G ratio of 1.34 and a beta of 2.19.

Apergy (NYSE:APY) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. Apergy had a return on equity of 11.40% and a net margin of 7.47%. The firm had revenue of $301.70 million for the quarter, compared to the consensus estimate of $301.37 million. Apergy’s revenue was up 6.6% on a year-over-year basis.

Hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC raised its stake in shares of Apergy by 0.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 52,342 shares of the company’s stock valued at $1,756,000 after buying an additional 400 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Apergy by 1.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 30,909 shares of the company’s stock valued at $837,000 after buying an additional 401 shares during the last quarter. American International Group Inc. raised its stake in shares of Apergy by 0.3% during the 4th quarter. American International Group Inc. now owns 157,649 shares of the company’s stock valued at $4,269,000 after buying an additional 428 shares during the last quarter. Neuburgh Advisers LLC raised its stake in shares of Apergy by 5.6% during the 4th quarter. Neuburgh Advisers LLC now owns 9,614 shares of the company’s stock valued at $260,000 after buying an additional 506 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its stake in shares of Apergy by 1.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 46,839 shares of the company’s stock valued at $1,923,000 after buying an additional 552 shares during the last quarter. Institutional investors own 92.22% of the company’s stock.

Apergy Company Profile

Apergy Corporation provides engineered equipment and technologies that help companies drill for and produce oil and gas worldwide. The company operates through two segments, Production & Automation Technologies and Drilling Technologies. The Production & Automation Technologies segment offers artificial lift equipment and solutions, including rod pumping systems, electric submersible pump systems, progressive cavity pumps, and drive systems and plunger lifts; and automation and digital equipment, software, and industrial Internet of things solutions for downhole monitoring, wellsite productivity enhancement, and asset integrity management.

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Earnings History and Estimates for Apergy (NYSE:APY)

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