Aegion (NASDAQ:AEGN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Aegion’s first-quarter 2018 adjusted earnings declined 28% year over year while revenues remained flat. Both beat the Zacks Consensus Estimate. Backed by strong backlog, strength in key markets, improved results from restructured operations and lower tax rates, Aegion expects year-over-year improvement of more than 30% in earnings in 2018. However, revenues will be flat due to the absence of the deepwater project that had a significant contribution last year. Aegion has undertaken strategic actions to generate more predictable and sustainable long-term earnings growth. This will lead to higher restructuring charges in the near term. Also, higher labor costs will dent margins. The stock has outperformed the industry in the past year.”
A number of other equities analysts have also recently issued reports on the stock. DA Davidson restated a “neutral” rating on shares of Aegion in a research note on Thursday, March 1st. BidaskClub cut shares of Aegion from a “hold” rating to a “sell” rating in a research note on Friday, January 26th. Finally, ValuEngine upgraded shares of Aegion from a “hold” rating to a “buy” rating in a research note on Thursday, April 12th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Aegion has an average rating of “Hold” and a consensus target price of $26.75.
NASDAQ:AEGN traded up $1.05 during trading hours on Tuesday, hitting $24.15. 146,700 shares of the company traded hands, compared to its average volume of 135,738. The stock has a market cap of $752.91 million, a P/E ratio of 23.45, a PEG ratio of 1.38 and a beta of 1.72. Aegion has a twelve month low of $19.11 and a twelve month high of $28.19. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.37 and a quick ratio of 2.08.
Aegion (NASDAQ:AEGN) last released its earnings results on Wednesday, February 28th. The construction company reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.03). The company had revenue of $337.50 million for the quarter, compared to analyst estimates of $332.50 million. Aegion had a negative net margin of 5.99% and a positive return on equity of 6.22%. equities research analysts anticipate that Aegion will post 1.34 EPS for the current year.
In other news, CAO Michael D. White sold 4,141 shares of the company’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $23.36, for a total value of $96,733.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Charles R. Gordon sold 20,000 shares of the company’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $23.36, for a total transaction of $467,200.00. Following the completion of the sale, the chief executive officer now directly owns 306,802 shares in the company, valued at approximately $7,166,894.72. The disclosure for this sale can be found here. Corporate insiders own 3.37% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. UBS Asset Management Americas Inc. bought a new stake in shares of Aegion in the 4th quarter worth about $209,000. Global X Management Co. LLC grew its holdings in shares of Aegion by 245.3% in the 1st quarter. Global X Management Co. LLC now owns 11,586 shares of the construction company’s stock worth $265,000 after purchasing an additional 8,231 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Aegion in the 4th quarter worth about $291,000. MetLife Investment Advisors LLC bought a new stake in shares of Aegion in the 4th quarter worth about $383,000. Finally, Stone Ridge Asset Management LLC bought a new stake in shares of Aegion in the 4th quarter worth about $601,000. 94.02% of the stock is currently owned by institutional investors and hedge funds.
Aegion Corporation provides technologies to maintain, rehabilitate, and strengthen infrastructure worldwide. It operates through three segments: Infrastructure Solutions, Corrosion Protection, and Energy Services. The company offers various solutions for rehabilitating and maintaining aging or deteriorating infrastructure; protecting new infrastructure from corrosion; and providing integrated professional services in engineering, procurement, construction, maintenance, and turnaround services for oil companies.
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