Wall Street brokerages expect Aegion Corp (NASDAQ:AEGN) to post sales of $320.33 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Aegion Corp’s earnings. The lowest sales estimate is $304.00 million and the highest is $330.00 million. Aegion Corp posted sales of $321.80 million in the same quarter last year, which would indicate a negative year over year growth rate of 0.5%. The firm is expected to announce its next quarterly earnings results on Tuesday, February 27th.
On average, analysts expect that Aegion Corp will report full-year sales of $320.33 million for the current year, with estimates ranging from $1.31 billion to $1.35 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.32 billion per share, with estimates ranging from $1.30 billion to $1.34 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Aegion Corp.
Aegion Corp (NASDAQ:AEGN) last posted its quarterly earnings data on Wednesday, November 1st. The construction company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.06. The business had revenue of $341.87 million during the quarter, compared to the consensus estimate of $328.98 million. Aegion Corp had a negative net margin of 3.03% and a positive return on equity of 7.62%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.32 earnings per share.
Several research firms have recently weighed in on AEGN. Zacks Investment Research upgraded shares of Aegion Corp from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. TheStreet cut shares of Aegion Corp from a “b-” rating to a “c” rating in a research note on Thursday, November 2nd. Canaccord Genuity boosted their price objective on shares of Aegion Corp from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Hilliard Lyons raised shares of Aegion Corp from a “neutral” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Wednesday, October 4th. Finally, Craig Hallum cut shares of Aegion Corp from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Aegion Corp presently has a consensus rating of “Buy” and a consensus price target of $25.50.
In other news, CFO David A. Martin sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $24.00, for a total value of $240,000.00. Following the completion of the sale, the chief financial officer now directly owns 101,430 shares in the company, valued at approximately $2,434,320. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.62% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of AEGN. Public Employees Retirement System of Ohio increased its stake in shares of Aegion Corp by 10.1% in the second quarter. Public Employees Retirement System of Ohio now owns 4,643 shares of the construction company’s stock worth $102,000 after buying an additional 426 shares during the period. Victory Capital Management Inc. purchased a new position in Aegion Corp during the 3rd quarter valued at $131,000. SG Americas Securities LLC purchased a new position in Aegion Corp during the 3rd quarter valued at $133,000. State of Alaska Department of Revenue increased its position in Aegion Corp by 76.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 6,624 shares of the construction company’s stock valued at $144,000 after purchasing an additional 2,874 shares during the period. Finally, Eqis Capital Management Inc. purchased a new position in Aegion Corp during the 3rd quarter valued at $210,000. 90.08% of the stock is currently owned by institutional investors.
Aegion Corp (AEGN) opened at $26.68 on Thursday. The firm has a market cap of $871.39, a PE ratio of 20.93, a PEG ratio of 1.99 and a beta of 1.68. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.36 and a quick ratio of 2.09. Aegion Corp has a 12 month low of $19.11 and a 12 month high of $27.48.
Aegion Corp announced that its Board of Directors has authorized a share buyback program on Wednesday, November 1st that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the construction company to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
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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