Aegion Corp (NASDAQ:AEGN) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday, May 10th.
According to Zacks, “Aegion’s revenues and earnings improved on a year-over-year basis. While earnings missed the Zacks Consensus Estimate, revenues beat the same. For 2017, Aegion expects higher revenues and operating income across all three platforms to result in solid earnings per share growth, greater cash generation and increasing ROIC. The company anticipates gross margins to expand in 2017 through consistent focus on labor utilization, project management and optimization of the fundamental business processes, along with a better year for turnaround support services. However, Aegion’s performance will be hurt by challenges in the Canadian upstream oil market due to low oil and gas prices. Other headwinds include escalating operating and interest expenses. Dismal condition of the U.S. water and wastewater infrastructure also remains a drag. Moreover, the stock underperformed the Zacks categorized sub industry over the past one year.”
Other equities analysts also recently issued reports about the stock. TheStreet upgraded shares of Aegion Corp from a “c” rating to a “b” rating in a report on Wednesday, March 1st. Canaccord Genuity reiterated a “buy” rating and set a $30.00 price target on shares of Aegion Corp in a report on Friday, April 21st. Hilliard Lyons downgraded shares of Aegion Corp from a “buy” rating to a “neutral” rating in a report on Monday, May 1st. Finally, DA Davidson reiterated a “neutral” rating on shares of Aegion Corp in a report on Wednesday, January 11th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $25.00.
Shares of Aegion Corp (NASDAQ:AEGN) traded up 1.25% during midday trading on Wednesday, reaching $19.47. The company had a trading volume of 128,442 shares. Aegion Corp has a one year low of $17.18 and a one year high of $26.68. The company has a 50 day moving average of $21.60 and a 200 day moving average of $22.89. The company has a market capitalization of $622.53 million, a PE ratio of 17.31 and a beta of 1.75.
Aegion Corp (NASDAQ:AEGN) last announced its earnings results on Tuesday, May 2nd. The construction company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by $0.01. The business had revenue of $325.18 million for the quarter, compared to analysts’ expectations of $319.43 million. Aegion Corp had a negative net margin of 1.72% and a positive return on equity of 6.43%. Analysts predict that Aegion Corp will post $1.31 EPS for the current fiscal year.
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In other Aegion Corp news, SVP Michael D. White sold 2,175 shares of the company’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $24.22, for a total value of $52,678.50. Following the transaction, the senior vice president now directly owns 14,409 shares in the company, valued at approximately $348,985.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.47% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of Aegion Corp during the first quarter worth approximately $119,000. Bank of Montreal Can increased its position in shares of Aegion Corp by 88.4% in the first quarter. Bank of Montreal Can now owns 7,701 shares of the construction company’s stock worth $176,000 after buying an additional 3,614 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of Aegion Corp by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 7,790 shares of the construction company’s stock worth $149,000 after buying an additional 120 shares in the last quarter. Mason Street Advisors LLC increased its position in shares of Aegion Corp by 6.5% in the first quarter. Mason Street Advisors LLC now owns 7,902 shares of the construction company’s stock worth $181,000 after buying an additional 480 shares in the last quarter. Finally, RBF Capital LLC bought a new position in shares of Aegion Corp during the first quarter worth approximately $209,000. Institutional investors and hedge funds own 88.83% of the company’s stock.
About Aegion Corp
Aegion Corporation (Aegion) is engaged in providing infrastructure protection and maintenance. The Company operates through three segments: Infrastructure Solutions, Corrosion Protection and Energy Services. The Company offers service solutions, including rehabilitation of water and wastewater pipelines with Insituform cured-in-place pipe (CIPP) products; fusible polyvinyl chloride products for rehabilitation; fiber reinforced polymer systems for rehabilitation and strengthening; cathodic protection for corrosion engineering control and infrastructure rehabilitation; pipe coatings for corrosion control and prevention; high density polyethylene (HDPE) pipe lining for corrosion control, abrasion protection and pipeline rehabilitation, and construction and maintenance of oil and gas facilities.
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