APY - Apergy Corporation

NYSE - Nasdaq Real Time Price. Currency in USD
25.30
-0.62 (-2.39%)
As of 11:30AM EST. Market open.
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Previous Close25.92
Open26.24
Bid25.35 x 800
Ask25.42 x 1200
Day's Range25.21 - 26.24
52 Week Range23.62 - 43.40
Volume93,019
Avg. Volume528,483
Market Cap1.96B
Beta (5Y Monthly)N/A
PE Ratio (TTM)24.83
EPS (TTM)1.02
Earnings DateFeb. 23, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est34.40
  • Earnings Preview: Apergy (APY) Q4 Earnings Expected to Decline
    Zacks

    Earnings Preview: Apergy (APY) Q4 Earnings Expected to Decline

    Apergy (APY) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • Calculating The Intrinsic Value Of Apergy Corporation (NYSE:APY)
    Simply Wall St.

    Calculating The Intrinsic Value Of Apergy Corporation (NYSE:APY)

    Today we will run through one way of estimating the intrinsic value of Apergy Corporation (NYSE:APY) by taking the...

  • GlobeNewswire

    Apergy Announces Fourth Quarter and Full Year 2019 Earnings Release and Conference Call Schedule

    THE WOODLANDS, Texas, Jan. 27, 2020 -- Apergy Corporation (“Apergy”) (NYSE: APY) announced today that it will release its fourth quarter and full year 2019 operating results.

  • Gloomy Outlook Looming Over Engineering R&D Services Industry
    Zacks

    Gloomy Outlook Looming Over Engineering R&D Services Industry

    Gloomy Outlook Looming Over Engineering R&D; Services Industry

  • GlobeNewswire

    DCP Midstream and Apergy Announce a Joint Technology Development Agreement to Improve Reliability of Oil and Gas Operations Using Artificial Intelligence

    HOUSTON, Jan. 21, 2020 -- DCP Midstream, LP (“DCP” or “DCP Midstream”) (NYSE: DCP) and Windrock, Inc. (“Windrock”), a subsidiary of Apergy Corporation (“Apergy”) (NYSE: APY),.

  • When Does Market Timing Actually Work? - January 20, 2020
    Zacks

    When Does Market Timing Actually Work? - January 20, 2020

    In the long-run, does consistent market timing really matter to be a successful investor?

  • Apergy Corporation Enters Overbought Territory
    Zacks

    Apergy Corporation Enters Overbought Territory

    Apergy Corporation has moved higher as of late, but there could definitely be trouble on the horizon for this company.

  • What Is Apergy's (NYSE:APY) P/E Ratio After Its Share Price Rocketed?
    Simply Wall St.

    What Is Apergy's (NYSE:APY) P/E Ratio After Its Share Price Rocketed?

    It's great to see Apergy (NYSE:APY) shareholders have their patience rewarded with a 34% share price pop in the last...

  • Boeing’s Days of Being the Bully Are Over
    Bloomberg

    Boeing’s Days of Being the Bully Are Over

    (Bloomberg Opinion) -- To get Brooke Sutherland’s newsletter delivered directly to your inbox, sign up here.Boeing Co. was an aerospace industry bully for years, leveraging its position as the preeminent U.S. commercial-jet maker to squeeze its suppliers, badger its rivals with trade disputes and reportedly lobby for more oversight over the regulatory review of its own planes. Two fatal crashes and a global grounding of its best-selling 737 Max jet have upended the power dynamic. With its latest decision to halt production, Boeing’s comeuppance is complete.The company announced this week that it would completely shut down production of the Max starting in January. The decision follows a surprisingly indignant and public upbraiding by the Federal Aviation Administration over the company’s unrealistic timeline for the jet’s return and concerns that it was trying to pressure regulators to act more quickly. The Max has been grounded for nine months as regulators review a proposed software fix to a flight-control system and grapple with deeper questions about Boeing’s priorities and flaws in its oversight processes and understanding of pilot reactions. The FAA reportedly may not clear the plane until February at the earliest, and seems increasingly likely to move in tandem with more reticent international regulators rather than lead the charge on approving the Max for flight. Faced with a glut of 400 undeliverable planes, a deepening cash crunch and no clear end in sight to the grounding, the gravity of the damage Boeing has done to its reputation finally seems to be sinking in. It didn’t help matters that Boeing’s unmanned CST-100 Starliner failed to reach the International Space Station Friday. One way to read this production cut is that the company is going into self-preservation mode. While undoubtedly a drastic step, pulling the plug on production should help Boeing conserve cash in the near term as it will stop adding to inventory. But it will raise the longer-term financial cost of the Max crisis, put Boeing’s competitive position further at risk and wreak havoc on many of its suppliers. Citing these concerns, both S&P and Moody’s Investors Service lowered Boeing’s credit rating this week. Boeing in April cut 737 production to 42 planes per month, down from a pre-crash pace of 52. Many suppliers would likely have preferred to see another cut versus a complete stop because it becomes much more difficult to ramp up again if their own network of parts and service providers goes cold. Boeing reportedly believed a full-blown halt over a specific time period would offer more certainty for workers and make them less likely to jump ship in a tight labor market. The production cut it announced this week is instead open-ended. In a way, the lack of a fresh timeline shows the FAA’s effort to humble Boeing is working. But it also makes suppliers – and the broader economy – that much more exposed to the Max crisis at a time when U.S. manufacturing is still soft.Spirit AeroSystems Holdings Inc., which gets more than 50% of its revenue from 737 aircraft components, had been continuing to manufacture airframes at the 52-a-month pace throughout the grounding. Now, it, too, is fully halting production. In the understatement of the year, this suspension “will have an adverse impact on Spirit's business, financial condition, results of operations, and cash flows,” the company said in a statement Friday. Spirit shares fell about 6% this week, while fellow Max suppliers Woodward Inc. and Moog Inc. dropped about 5% and 2%, respectively. The production halt will reduce first quarter U.S. gross domestic product by about 0.5 percentage point, according to estimates from IHS Markit and JPMorgan Chase & Co.General Electric Co.’s CFM engine joint venture with Safran SA is the sole provider for the Max and will likely need to rejigger its own production plans. Perversely, that could actually boost GE’s cash flow because new engine shipments tend to be less profitable than spares or maintenance work. The situation also could allow the company to devote more resources to maintaining engines on stored jets so they can be more quickly brought back into service. Boeing’s commitment to prioritize delivering the 400-odd planes in storage over cranking out new ones should help speed associated payments to GE. Meanwhile, GE is reportedly in discussions with Airbus SE about increasing production of engines for that company's rival to the Max to help maintain its factory capacity. Longer term, however, the company’s elevated exposure to any slippage in the Max backlog or lingering reputational damage is a liability, notes JPMorgan analyst Steve Tusa, who says it’s a possibility the plane doesn’t return at all.I think those suppliers are going to remember all of this the next time they enter contract negotiations with Boeing. Before the two Max plane crashes, Boeing had been pushing for cost cuts in an effort to capture some of its suppliers’ rich profit margins for itself, and had pushed to bring more parts and services work in house through joint ventures and acquisitions. That all likely ends. In the near term, rather than negotiating with Boeing over cost, its suppliers are more likely going to be negotiating for compensation or some sort of arrangement to smooth out the hits to their business from this binary approach to production. In the long term, Boeing’s efforts to rebuild its reputation must entail a reckoning with persistent allegations that it prioritized profit over safety. How does the company do that while encouraging its suppliers to make the kind of cutbacks and outsourcing decisions that landed it in hot water?Apart from the obvious fact that Boeing won’t have cash to spare for acquisitions anytime too soon, the Max crisis should prompt regulators to question the wisdom of allowing the company to continue to consolidate more of the aerospace industry within itself. And suppliers would be justified in being more critical of these attempts to raid their market share. The Max crisis was manufactured largely by Boeing itself, rather than its supply chain. As painful as the production cut will be, the suppliers now at least have more leverage.RETURN OF THE REVERSE MORRIS TRUSTWhoever said taxes were a certainty on par with death was clearly not an M&A banker. There were at least two big Reverse Morris trust deals announced this week, with DuPont de Nemours Inc. agreeing to combine its nutrition and biosciences division with International Flavors & Fragrances Inc., and Ecolab Inc. merging its Nalco Champion oilfield chemicals unit with Apergy Corp. Reverse Morris trusts are a way for larger companies to divest assets without having to pay taxes, as they would in a direct sale. These transactions historically are somewhat rare because the two businesses have to be almost equal in size to meet the requirements, but there’s been a resurgence this decade, particularly among industrial companies, in a natural consequence of the breakup frenzy that’s gripped the sector. The IFF deal values the DuPont nutrition business at $26.2 billion and marks the latest in a long line of breakups for DuPont. The company also is reportedly contemplating a divestiture of its transportation and industrial division. But DuPont doesn’t have much to show for all its slicing and dicing to date, and its conclusion that the solution to its underperformance is yet more breakups makes me ask — yet again — if this craze is going too far. (1)The Apergy-Ecolab deal offers a counterpoint. Apergy was spun off from Dover Corp. last year, and while it’s outperformed the S&P 500 energy sector, it hasn’t been able to avoid the drag from low oil prices and a shift in priorities among exploration companies under pressure to boost shareholder returns. From the outside, Apergy looked like another example of when a spinoff has benefited the parent company much more than the unshackled business. But one argument that activist investors often make for breakups is that businesses benefit from having independent control over their capital spending decisions, which include M&A. The deal with Ecolab likely wouldn’t have happened if Apergy was still part of Dover. Ecolab had initially planned to spin off its energy business. But the combined company, which is expected to have an enterprise value of $7.4 billion, should be stronger than either would have been on their own. Its increased international exposure and well-rounded offerings across oilfield chemicals, equipment and services should help it in a world where energy investors are prioritizing scale and stable free cash flow.(2)FEDEX SPECIAL DELIVERY: CHRISTMAS COALBoeing had the worst 2019 by far among industrial companies, but FedEx Corp. comes in second on my list. The company this week reported yet another cut to a fiscal 2020 forecast that was disappointing to begin with as it continues to struggle with the challenge of ferrying the deluge of e-commerce shipments to consumers’ doorsteps. FedEx continues to blame exogenous factors for its shortcomings: a cyberattack on its TNT Express business that delayed the integration of that acquisition; the U.S.-China trade war; the quirks of the calendar this year. All of those things undoubtedly played a role in FedEx’s earnings slippage, but the real problem seems to be a management team that was unprepared to weather those shocks and has worn out investor patience with unfulfilled promises of a turnaround. Chief Financial Officer Alan Graf says FedEx is nearing a bottom. Practically speaking, that may be true but that leaves a lot of unanswered questions about how FedEx will compete in a shipping world that now includes Amazon.com Inc. as a full-blown competitor. Amazon stopped working with FedEx for its own deliveries earlier this year and this week banned third-party merchants from using the carrier for Prime deliveries because of what it said was a decline in performance. Lest there were any lingering doubts about Amazon’s delivery capabilities, the company also announced this week that its logistics arm now handles about half of deliveries and is on pace to deliver 3.5 billion of its own packages this year.DEALS, ACTIVISTS AND CORPORATE GOVERNANCELeidos Holdings Inc. this week agreed to acquire research and national-security services company Dynetics for $1.65 billion. Dynetics focuses on some of the fastest growing parts of the U.S. Defense Department’s budget, including hypersonics, space, directed energy, artificial intelligence, machine learning and micro-electronics, according to Cowen analyst Cai von Rumohr. So the deal should be a boon to Leidos’s margins and growth. This is the latest example of a defense company betting bigger is better as they jockey for positioning in the DoD budget. The strategic benefits offset a somewhat rich price. Leidos is paying roughly 15 times Dynetics expected 2020 Ebitda, but that multiple drops to 12.6 after accounting for tax benefits. Dynetics is a private, employee-owned company, which Leidos was as well before it went public, so that should help smooth the cultural integration, notes von Rumohr.FirstGroup Plc, having already committed to selling the U.S. Greyhound bus service and other assets, is expanding its breakup plan to include the North American school bus and transit divisions. FirstGroup came under pressure to shake up its business after rejecting two takeover offers from Apollo Global Management that the company said undervalued it, only to see its share price flounder amid disappointing results. The North American assets have a value of at least $5 billion, according to activist investor Coast Capital, which earlier this year sought an overhaul of the board to push through its breakup strategy. Coast Capital’s proxy fight failed, but FirstGroup Chairman Wolfhart Hauser still departed.Clariant AG agreed to sell a plastic-pigments unit to PolyOne Corp. for about $1.5 billion. The chemicals are used to color car parts and packaging, and Baader analyst Markus Mayer hadn’t expected Clariant to get that much for it amid a slump in automotive markets. The deal values the business at about 11 times its adjusted Ebitda in the past year, but expected cost savings of $60 million bring that multiple down to less than 8 times. For PolyOne, the deal continues the company’s shift toward higher-margin specialty chemicals.BONUS READING  A Major Shipping Change Is Coming, and So Are Higher Fuel Prices Truckmakers Slash Jobs by the Thousands as Orders Dry Up  Billionaire Agnellis Get to Keep Their Sweetener: Chris Bryant Foxconn Plays Tax-Credit Poker With Wisconsin: Tim Culpan Tesla, Saudi Aramco and the Stock Price Bros: Liam DenningA Third of America’s Economy Is Concentrated in Just 31 Counties(1) At least DuPont is getting well-compensated for its nutrition business, much to the chagrin of IFF investors who sent the stock down 8% on the week.(2) The value of diversification through M&A doesn’t fare so well in this example. Ecolab, primarily a provider of chemicals for water and waste-water treatment, built its oilfield services business through the acquisitions of Nalco Holding Co. for $8.1 billion (including debt) in 2011 and Champion Technologies Inc. for $2.2 billion in 2013.To contact the author of this story: Brooke Sutherland at bsutherland7@bloomberg.netTo contact the editor responsible for this story: Beth Williams at bewilliams@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brooke Sutherland is a Bloomberg Opinion columnist covering deals and industrial companies. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • GlobeNewswire

    Apergy to Combine with Ecolab’s Upstream Energy Business in a Tax-Free Transaction, Creating a Global Leader in Production-Optimization Solutions

    Global leader for life of field production optimization solutions, including artificial lift equipment, chemical solutions, and digital technologies, offering customers.

  • The Truth About Market Timing - December 11, 2019
    Zacks

    The Truth About Market Timing - December 11, 2019

    In the long-run, does consistent market timing really matter to be a successful investor?

  • GlobeNewswire

    Apergy to Participate in Upcoming Investor Conferences

    THE WOODLANDS, Texas, Dec. 09, 2019 -- Apergy Corporation (“Apergy”) (NYSE: APY), announced today that Sivasankaran "Soma" Somasundaram, President and Chief Executive Officer,.

  • Simple Market Timing Strategies That Work - November 22, 2019
    Zacks

    Simple Market Timing Strategies That Work - November 22, 2019

    Have you ever dreamed of being that one in a million investor who has the talent to perfectly time the markets?

  • Apergy Corporation Just Missed Earnings And Its EPS Looked Sad - But Analysts Have Updated Their Models
    Simply Wall St.

    Apergy Corporation Just Missed Earnings And Its EPS Looked Sad - But Analysts Have Updated Their Models

    It's shaping up to be a tough period for Apergy Corporation (NYSE:APY), which a week ago released some disappointing...

  • Investors Who Bought Apergy (NYSE:APY) Shares A Year Ago Are Now Down 26%
    Simply Wall St.

    Investors Who Bought Apergy (NYSE:APY) Shares A Year Ago Are Now Down 26%

    Investors can approximate the average market return by buying an index fund. Active investors aim to buy stocks that...

  • GlobeNewswire

    Apergy to Participate in the Bank of America Global Energy Conference

    THE WOODLANDS, Texas, Nov. 11, 2019 -- Apergy Corporation (“Apergy”) (NYSE: APY), announced today that Paul Mahoney, President Production & Automation Technologies, and Ali.

  • Simple Market Timing Strategies That Work - November 04, 2019
    Zacks

    Simple Market Timing Strategies That Work - November 04, 2019

    In the long-run, does consistent market timing really matter to be a successful investor?

  • Thomson Reuters StreetEvents

    Edited Transcript of APY.N earnings conference call or presentation 24-Oct-19 2:00pm GMT

    Q3 2019 Apergy Corp Earnings Call

  • Apergy (APY) Misses Q3 Earnings and Revenue Estimates
    Zacks

    Apergy (APY) Misses Q3 Earnings and Revenue Estimates

    Apergy (APY) delivered earnings and revenue surprises of -18.18% and -9.54%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?

  • GlobeNewswire

    Apergy Reports Third Quarter 2019 Results

    Revenue of $278 million in Q3-19, down 9% sequentiallyNet income of $14 million and adjusted net income of $21 million in Q3-19Diluted EPS of $0.18 and adjusted diluted EPS of.

  • Earnings Preview: Apergy (APY) Q3 Earnings Expected to Decline
    Zacks

    Earnings Preview: Apergy (APY) Q3 Earnings Expected to Decline

    Apergy (APY) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • The Truth About Market Timing - October 10, 2019
    Zacks

    The Truth About Market Timing - October 10, 2019

    Is the ability to time the markets more of a data-driven science or a 'gut - feeling' art?

  • Is Apergy Corporation's (NYSE:APY) 9.2% ROE Better Than Average?
    Simply Wall St.

    Is Apergy Corporation's (NYSE:APY) 9.2% ROE Better Than Average?

    While some investors are already well versed in financial metrics (hat tip), this article is for those who would like...

  • GlobeNewswire

    Apergy Announces Third Quarter 2019 Earnings Release and Conference Call Schedule

    Apergy Corporation (“Apergy”) (APY) announced today that it will release its third quarter 2019 operating results on Wednesday, October 23, 2019 after the market closes. The Company has scheduled a conference call for Thursday, October 24, 2019 at 9:00 a.m. Central Time (10:00 a.m. Eastern Time) to discuss the results. A replay of the conference call will be available for approximately 30 days on Apergy’s website or by dialing 1-888-843-7419 in the United States and Canada, or 1-630-652-3042 for international calls, with access code 6597 102#.