Q3 2019 EPS Estimates for Apergy Corp Decreased by Jefferies Financial Group (APY)

Apergy Corp (NYSE:APY) – Analysts at Jefferies Financial Group decreased their Q3 2019 earnings estimates for shares of Apergy in a research note issued on Wednesday, May 1st, according to Zacks Investment Research. Jefferies Financial Group analyst S. Pant now forecasts that the company will post earnings of $0.41 per share for the quarter, down from their previous forecast of $0.42. Jefferies Financial Group currently has a “Buy” rating and a $49.00 price target on the stock. Jefferies Financial Group also issued estimates for Apergy’s Q4 2019 earnings at $0.43 EPS, FY2020 earnings at $2.35 EPS, FY2021 earnings at $3.10 EPS and FY2022 earnings at $3.35 EPS.

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

Several other analysts also recently commented on APY. Zacks Investment Research upgraded shares of Apergy from a “sell” rating to a “hold” rating in a research report on Tuesday, February 12th. Barclays reaffirmed a “buy” rating and set a $42.00 target price on shares of Apergy in a research note on Wednesday, February 20th. Bank of America reaffirmed a “buy” rating and set a $46.00 target price (up from $42.00) on shares of Apergy in a research note on Wednesday, February 20th. Cowen set a $42.00 target price on shares of Apergy and gave the company a “buy” rating in a research note on Wednesday, February 20th. Finally, Wells Fargo & Co started coverage on shares of Apergy in a research note on Monday, March 4th. They set an “outperform” rating and a $52.00 target price for the company. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $45.80.

Shares of APY stock traded up $0.22 on Monday, hitting $31.99. 854,061 shares of the stock traded hands, compared to its average volume of 509,917. The company has a market capitalization of $2.46 billion and a price-to-earnings ratio of 22.22. Apergy has a 52 week low of $25.85 and a 52 week high of $46.11. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.53 and a quick ratio of 1.44.

Several large investors have recently modified their holdings of APY. The Manufacturers Life Insurance Company grew its stake in shares of Apergy by 3.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 128,111 shares of the company’s stock worth $5,581,000 after buying an additional 4,335 shares in the last quarter. Man Group plc purchased a new position in shares of Apergy in the 3rd quarter worth $1,145,000. AQR Capital Management LLC purchased a new position in shares of Apergy in the 3rd quarter worth $556,000. Standard Life Aberdeen plc purchased a new position in shares of Apergy in the 3rd quarter worth $1,179,000. Finally, Clearbridge Investments LLC grew its stake in shares of Apergy by 2,038.0% in the 3rd quarter. Clearbridge Investments LLC now owns 502,437 shares of the company’s stock worth $21,886,000 after buying an additional 478,937 shares in the last quarter. 92.26% of the stock is owned by institutional investors and hedge funds.

About Apergy

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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