$310.25 Million in Sales Expected for Apergy Corp (NYSE:APY) This Quarter

Analysts expect that Apergy Corp (NYSE:APY) will report sales of $310.25 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Apergy’s earnings. The highest sales estimate is $310.50 million and the lowest is $310.00 million. Apergy reported sales of $316.47 million during the same quarter last year, which indicates a negative year-over-year growth rate of 2%. The firm is scheduled to announce its next earnings report on Tuesday, October 29th.

On average, analysts expect that Apergy will report full year sales of $1.23 billion for the current fiscal year, with estimates ranging from $1.22 billion to $1.27 billion. For the next fiscal year, analysts anticipate that the business will post sales of $1.34 billion, with estimates ranging from $1.30 billion to $1.42 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Apergy.

Apergy (NYSE:APY) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. Apergy had a net margin of 7.60% and a return on equity of 10.86%. The business had revenue of $306.05 million for the quarter, compared to the consensus estimate of $310.64 million. Apergy’s revenue for the quarter was up .1% compared to the same quarter last year.

Several research firms recently commented on APY. Citigroup downgraded shares of Apergy from a “buy” rating to a “neutral” rating and decreased their price target for the company from $41.00 to $34.00 in a research note on Tuesday, July 9th. Barclays set a $39.00 price target on shares of Apergy and gave the company a “buy” rating in a research note on Friday, July 26th. Wells Fargo & Co restated a “buy” rating on shares of Apergy in a research note on Thursday, June 27th. Bank of America restated a “buy” rating and issued a $40.00 price target (down from $51.00) on shares of Apergy in a research note on Tuesday, June 25th. Finally, Jefferies Financial Group decreased their price target on shares of Apergy from $48.00 to $37.00 and set a “buy” rating on the stock in a research note 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 company. The stock presently has an average rating of “Buy” and an average price target of $42.50.

A number of institutional investors and hedge funds have recently bought and sold shares of APY. Nuveen Asset Management LLC lifted its position in Apergy by 140.0% during the second quarter. Nuveen Asset Management LLC now owns 1,575,259 shares of the company’s stock worth $52,834,000 after purchasing an additional 918,924 shares during the period. Janus Henderson Group PLC lifted its position in Apergy by 39.1% during the second quarter. Janus Henderson Group PLC now owns 2,250,965 shares of the company’s stock worth $75,497,000 after purchasing an additional 632,150 shares during the period. Norges Bank bought a new stake in Apergy during the fourth quarter worth about $16,533,000. Bank of New York Mellon Corp lifted its position in Apergy by 18.6% during the second quarter. Bank of New York Mellon Corp now owns 3,401,157 shares of the company’s stock worth $114,074,000 after purchasing an additional 532,281 shares during the period. Finally, TimesSquare Capital Management LLC lifted its position in Apergy by 460.7% during the first quarter. TimesSquare Capital Management LLC now owns 470,400 shares of the company’s stock worth $19,315,000 after purchasing an additional 386,500 shares during the period. 92.98% of the stock is owned by institutional investors and hedge funds.

Shares of APY stock traded down $0.02 on Tuesday, hitting $26.09. The company’s stock had a trading volume of 599,400 shares, compared to its average volume of 672,824. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.47 and a current ratio of 2.63. The stock’s 50 day moving average is $30.86 and its 200-day moving average is $35.76. Apergy has a fifty-two week low of $25.51 and a fifty-two week high of $46.11. The company has a market capitalization of $2.02 billion, a PE ratio of 18.12, a PEG ratio of 1.36 and a beta of 2.18.

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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