Brokerages Anticipate Apergy Corp (NYSE:APY) Will Post Quarterly Sales of $311.00 Million

Brokerages expect that Apergy Corp (NYSE:APY) will report $311.00 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Apergy’s earnings, with estimates ranging from $309.00 million to $314.00 million. Apergy reported sales of $305.93 million in the same quarter last year, which indicates a positive year-over-year growth rate of 1.7%. The firm is expected to report its next quarterly earnings report on Wednesday, July 24th.

On average, analysts expect that Apergy will report full-year sales of $1.27 billion for the current fiscal year, with estimates ranging from $1.25 billion to $1.28 billion. For the next year, analysts anticipate that the business will post sales of $1.43 billion, with estimates ranging from $1.39 billion to $1.49 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Apergy.

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

APY has been the subject of several recent research reports. Johnson Rice upgraded Apergy from an “accumulate” rating to a “buy” rating and lifted their price objective for the company from $45.00 to $48.00 in a report on Monday, March 11th. Jefferies Financial Group lifted their price objective on Apergy to $49.00 and gave the company a “buy” rating in a report on Monday, March 4th. They noted that the move was a valuation call. Cowen set a $42.00 price objective on Apergy and gave the company a “buy” rating in a report on Wednesday, February 20th. Bank of America restated a “buy” rating and issued a $46.00 price objective (up from $42.00) on shares of Apergy in a report on Wednesday, February 20th. Finally, Barclays restated a “buy” rating and issued a $42.00 price objective on shares of Apergy in a report on Wednesday, February 20th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $45.80.

Shares of APY stock traded down $1.47 on Wednesday, hitting $30.60. The stock had a trading volume of 380,877 shares, compared to its average volume of 493,325. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.53 and a quick ratio of 1.44. The company has a market capitalization of $2.54 billion and a P/E ratio of 21.25. Apergy has a one year low of $25.85 and a one year high of $46.11.

A number of institutional investors have recently made changes to their positions in APY. Farmers National Bank bought a new position in Apergy in the first quarter worth about $27,000. Fort L.P. bought a new position in Apergy in the fourth quarter worth about $30,000. Phocas Financial Corp. bought a new position in Apergy in the fourth quarter worth about $30,000. Oregon Public Employees Retirement Fund raised its holdings in Apergy by 2,643.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 837,016 shares of the company’s stock worth $31,000 after purchasing an additional 806,508 shares in the last quarter. Finally, Essex Savings Bank bought a new position in Apergy in the fourth quarter worth about $32,000. Institutional investors and hedge funds own 92.26% 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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