Zacks: Brokerages Anticipate Apergy Corp (NYSE:APY) Will Post Quarterly Sales of $310.25 Million

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

According to Zacks, analysts expect that Apergy will report full year sales of $1.23 billion for the current financial year, with estimates ranging from $1.22 billion to $1.27 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.34 billion, with estimates ranging from $1.30 billion to $1.42 billion. Zacks’ sales averages are an average based on a survey of research firms 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, topping analysts’ consensus estimates 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 return on equity of 10.86% and a net margin of 7.60%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year.

APY has been the topic of several recent analyst reports. Zacks Investment Research lowered Apergy from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 3rd. Barclays set a $39.00 target price on shares of Apergy and gave the stock a “buy” rating in a research note on Friday, July 26th. Bank of America restated a “buy” rating and issued a $40.00 price objective (down previously from $51.00) on shares of Apergy in a research report on Tuesday, June 25th. Citigroup cut shares of Apergy from a “buy” rating to a “neutral” rating and dropped their target price for the company from $41.00 to $34.00 in a report on Tuesday, July 9th. Finally, Jefferies Financial Group dropped their target price on shares of Apergy from $48.00 to $37.00 and set a “buy” rating for the company in a report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. Apergy has a consensus rating of “Buy” and a consensus target price of $42.50.

Several large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its position in shares of Apergy by 5.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,060,197 shares of the company’s stock valued at $28,711,000 after buying an additional 54,333 shares during the last quarter. Norges Bank acquired a new position in Apergy during the fourth quarter worth about $16,533,000. Geode Capital Management LLC raised its stake in Apergy by 6.0% during the fourth quarter. Geode Capital Management LLC now owns 760,049 shares of the company’s stock worth $20,582,000 after acquiring an additional 43,090 shares in the last quarter. Deutsche Bank AG raised its stake in Apergy by 72.4% during the fourth quarter. Deutsche Bank AG now owns 65,768 shares of the company’s stock worth $1,776,000 after acquiring an additional 27,617 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of Apergy by 34.3% in the first quarter. Nisa Investment Advisors LLC now owns 51,942 shares of the company’s stock valued at $2,133,000 after buying an additional 13,275 shares during the period. Institutional investors and hedge funds own 92.98% of the company’s stock.

NYSE:APY traded up $0.02 during trading hours on Tuesday, hitting $26.13. The company’s stock had a trading volume of 7,306 shares, compared to its average volume of 673,066. The stock has a market capitalization of $2.21 billion, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 1.48 and a beta of 2.18. The stock has a fifty day moving average of $30.99 and a 200-day moving average of $35.81. The company has a current ratio of 2.63, a quick ratio of 1.47 and a debt-to-equity ratio of 0.59. Apergy has a 52-week low of $25.51 and a 52-week 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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