Zacks: Analysts Expect Aegion Corp (AEGN) Will Announce Quarterly Sales of $336.40 Million
Wall Street analysts forecast that Aegion Corp (NASDAQ:AEGN) will announce sales of $336.40 million for the current quarter, Zacks reports. Three analysts have provided estimates for Aegion Corp’s earnings. The highest sales estimate is $345.00 million and the lowest is $330.20 million. Aegion Corp posted sales of $308.52 million during the same quarter last year, which suggests a positive year-over-year growth rate of 9%. The firm is expected to announce its next quarterly earnings report after the market closes on Wednesday, November 1st.
According to Zacks, analysts expect that Aegion Corp will report full year sales of $336.40 million for the current financial year, with estimates ranging from $1.31 billion to $1.34 billion. For the next financial year, analysts expect that the business will post sales of $1.30 billion per share, with estimates ranging from $1.30 billion to $1.31 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Aegion Corp.
Aegion Corp (NASDAQ:AEGN) last posted its quarterly earnings results on Tuesday, August 1st. The construction company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.08). The company had revenue of $354.47 million during the quarter, compared to the consensus estimate of $351.51 million. Aegion Corp had a net margin of 3.57% and a return on equity of 7.52%. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 earnings per share.
AEGN has been the topic of several research analyst reports. BidaskClub upgraded shares of Aegion Corp from a “sell” rating to a “hold” rating in a research report on Saturday, July 8th. Hilliard Lyons upgraded shares of Aegion Corp from a “neutral” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Wednesday, October 4th. ValuEngine upgraded shares of Aegion Corp from a “hold” rating to a “buy” rating in a research report on Tuesday, September 12th. Canaccord Genuity reiterated a “buy” rating and issued a $26.00 target price on shares of Aegion Corp in a research report on Thursday, August 10th. Finally, TheStreet upgraded shares of Aegion Corp from a “c+” rating to a “b” rating in a research report on Tuesday, August 1st. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Aegion Corp currently has a consensus rating of “Buy” and a consensus price target of $25.17.
Aegion Corp (AEGN) traded up 1.98% on Friday, reaching $23.64. The company’s stock had a trading volume of 74,810 shares. Aegion Corp has a 52-week low of $17.85 and a 52-week high of $26.68. The firm’s 50-day moving average price is $22.41 and its 200 day moving average price is $21.63. The company has a market cap of $780.40 million, a P/E ratio of 17.45 and a beta of 1.69.
Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in Aegion Corp by 12,966.0% during the first quarter. BlackRock Inc. now owns 4,365,349 shares of the construction company’s stock worth $100,010,000 after acquiring an additional 4,331,939 shares during the last quarter. Tudor Investment Corp ET AL boosted its position in Aegion Corp by 16.0% during the first quarter. Tudor Investment Corp ET AL now owns 30,944 shares of the construction company’s stock worth $709,000 after acquiring an additional 4,279 shares during the last quarter. Scout Investments Inc. boosted its position in Aegion Corp by 3.9% during the second quarter. Scout Investments Inc. now owns 144,650 shares of the construction company’s stock worth $3,165,000 after acquiring an additional 5,425 shares during the last quarter. Royce & Associates LP boosted its position in Aegion Corp by 2.3% during the second quarter. Royce & Associates LP now owns 877,893 shares of the construction company’s stock worth $19,208,000 after acquiring an additional 19,447 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Aegion Corp by 3.6% during the first quarter. Principal Financial Group Inc. now owns 290,195 shares of the construction company’s stock worth $6,648,000 after acquiring an additional 9,984 shares during the last quarter. Hedge funds and other institutional investors own 88.57% 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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