Apergy Corp (NYSE:APY) Expected to Post Earnings of $0.34 Per Share

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Analysts forecast that Apergy Corp (NYSE:APY) will announce $0.34 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Apergy’s earnings. The highest EPS estimate is $0.35 and the lowest is $0.33. Apergy posted earnings of $0.37 per share in the same quarter last year, which would indicate a negative year over year growth rate of 8.1%. The firm is scheduled to announce its next earnings report on Tuesday, October 29th.

On average, analysts expect that Apergy will report full year earnings of $1.35 per share for the current year, with EPS estimates ranging from $1.34 to $1.36. For the next year, analysts forecast that the business will post earnings of $1.60 per share, with EPS estimates ranging from $1.34 to $1.85. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Apergy.

Apergy (NYSE:APY) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. The company had revenue of $306.05 million for the quarter, compared to analysts’ expectations of $310.64 million. Apergy had a net margin of 7.60% and a return on equity of 10.86%. The company’s revenue was up .1% on a year-over-year basis.

Several research firms have issued reports on APY. Wells Fargo & Co restated a “buy” rating on shares of Apergy in a research note on Thursday, June 27th. Citigroup cut shares of Apergy from a “buy” rating to a “neutral” rating and lowered their target price for the company from $41.00 to $34.00 in a research note on Tuesday, July 9th. Zacks Investment Research cut shares of Apergy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 3rd. Jefferies Financial Group lowered their target price 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. Finally, Barclays set a $39.00 target price on shares of Apergy and gave the stock a “buy” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $42.50.

A number of institutional investors have recently added to or reduced their stakes in APY. Nisa Investment Advisors LLC raised its holdings in Apergy by 0.8% during the second quarter. Nisa Investment Advisors LLC now owns 52,342 shares of the company’s stock worth $1,756,000 after purchasing an additional 400 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Apergy by 1.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 31,351 shares of the company’s stock valued at $1,052,000 after acquiring an additional 442 shares during the last quarter. Meeder Asset Management Inc. lifted its position in shares of Apergy by 136.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 925 shares of the company’s stock valued at $31,000 after acquiring an additional 533 shares during the last quarter. Great West Life Assurance Co. Can lifted its position 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 acquiring an additional 552 shares during the last quarter. Finally, Mason Street Advisors LLC lifted its position in shares of Apergy by 1.5% during the 1st quarter. Mason Street Advisors LLC now owns 41,134 shares of the company’s stock valued at $1,689,000 after acquiring an additional 623 shares during the last quarter. 92.98% of the stock is owned by institutional investors.

Apergy stock traded down $0.02 during mid-day trading on Friday, reaching $26.09. The 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 current ratio of 2.63 and a quick ratio of 1.47. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 1.36 and a beta of 2.18. The company has a 50-day moving average price of $30.86 and a two-hundred day moving average price of $35.76. Apergy has a one year low of $25.51 and a one year high of $46.11.

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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