Q3 2019 EPS Estimates for Apergy Corp (NYSE:APY) Lowered by Analyst

Apergy Corp (NYSE:APY) – Research analysts at Jefferies Financial Group cut their Q3 2019 earnings per share estimates for Apergy in a research note issued on Monday, June 24th, Zacks Investment Research reports. Jefferies Financial Group analyst S. Pant now anticipates that the company will post earnings per share of $0.40 for the quarter, down from their previous estimate of $0.41. Jefferies Financial Group has a “Buy” rating and a $37.00 price objective on the stock. Jefferies Financial Group also issued estimates for Apergy’s Q4 2019 earnings at $0.41 EPS, FY2019 earnings at $1.47 EPS, Q1 2020 earnings at $0.44 EPS, Q2 2020 earnings at $0.48 EPS, Q3 2020 earnings at $0.59 EPS, FY2020 earnings at $2.15 EPS, FY2021 earnings at $2.80 EPS and FY2022 earnings at $3.00 EPS.

A number of other research firms have also commented on APY. Piper Jaffray Companies began coverage on shares of Apergy in a research report on Wednesday, April 3rd. They issued an “overweight” rating and a $41.03 price objective for the company. Bank of America restated an “underperform” rating and issued a $1.25 price objective (down from $4.50) on shares of Superior Energy Services in a research report on Tuesday, June 25th. Zacks Investment Research upgraded shares of HB Fuller from a “sell” rating to a “hold” rating in a research report on Wednesday, July 3rd. Citigroup lowered shares of Apergy from a “buy” rating to a “neutral” rating and cut their price objective for the company from $41.00 to $34.00 in a research report on Tuesday, July 9th. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of Helmerich & Payne in a research report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $42.80.

Shares of APY stock traded down $0.34 during trading hours on Wednesday, reaching $29.91. The stock had a trading volume of 432,800 shares, compared to its average volume of 503,466. The stock has a fifty day simple moving average of $31.93. The company has a quick ratio of 1.44, a current ratio of 2.53 and a debt-to-equity ratio of 0.63. 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 PEG ratio of 1.34 and a beta of 2.19.

Apergy (NYSE:APY) last posted its 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 net margin of 7.47% and a return on equity of 11.40%. The firm had revenue of $301.70 million during the quarter, compared to the consensus estimate of $301.37 million. The company’s revenue was up 6.6% compared to the same quarter last year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Farmers National Bank purchased a new position in shares of Apergy in the first quarter worth $27,000. Bremer Bank National Association purchased a new position in Apergy during the 1st quarter valued at $41,000. Fort L.P. purchased a new position in Apergy during the 4th quarter valued at $30,000. Phocas Financial Corp. purchased a new position in Apergy during the 4th quarter valued at $30,000. Finally, Bremer Trust National Association purchased a new position in Apergy during the 4th quarter valued at $33,000. Hedge funds and other 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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