Aegion Corp (AEGN) Releases Earnings Results, Beats Expectations By $0.06 EPS
Aegion Corp (NASDAQ:AEGN) released its earnings results on Wednesday. The construction company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.06, Bloomberg Earnings reports. The firm had revenue of $341.87 million for the quarter, compared to the consensus estimate of $328.98 million. Aegion Corp had a net margin of 3.57% and a return on equity of 7.52%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 EPS.
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A number of analysts have recently weighed in on the stock. Sidoti downgraded shares of Aegion Corp from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 2nd. Craig Hallum downgraded shares of Aegion Corp from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $23.50 target price on shares of Aegion Corp in a research report on Friday, July 7th. Zacks Investment Research raised shares of Aegion Corp from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, Canaccord Genuity upped their target price on shares of Aegion Corp from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Six equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $25.17.
Aegion Corp announced that its Board of Directors has approved a stock buyback plan on Wednesday, November 1st that permits the company to buyback $40.00 million in outstanding shares. This buyback authorization permits the construction company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.
Aegion Corp Company Profile
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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