Aegion’s (AEGN) “Hold” Rating Reiterated at Maxim Group
Maxim Group restated their hold rating on shares of Aegion (NASDAQ:AEGN) in a research note released on Tuesday, AnalystRatings.com reports. Maxim Group currently has a $17.00 price target on the construction company’s stock.
“We reduce our 2019 EPS to $1.20, from $1.24 and 2020 EPS to $1.37, from $1.42 based on the potential for delays securing new corrosion protection projects in the Middle East.”,” the firm’s analyst wrote.
Several other equities analysts also recently weighed in on AEGN. BidaskClub raised Aegion from a strong sell rating to a sell rating in a research report on Friday, December 21st. Zacks Investment Research raised Aegion from a strong sell rating to a hold rating in a research report on Wednesday, January 2nd. Finally, ValuEngine downgraded Aegion from a hold rating to a sell rating in a research report on Thursday, February 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $25.50.
Aegion (NASDAQ:AEGN) last released its quarterly earnings results on Wednesday, February 27th. The construction company reported $0.27 earnings per share for the quarter, hitting the consensus estimate of $0.27. The company had revenue of $334.00 million during the quarter, compared to the consensus estimate of $311.00 million. Aegion had a return on equity of 8.05% and a net margin of 0.22%. On average, research analysts anticipate that Aegion will post 1.23 EPS for the current year.
In other news, SVP Stephen P. Callahan sold 3,419 shares of the firm’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $21.00, for a total transaction of $71,799.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.90% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Simplex Trading LLC acquired a new stake in shares of Aegion during the fourth quarter worth $65,000. Bank of Montreal Can boosted its holdings in shares of Aegion by 14.0% during the fourth quarter. Bank of Montreal Can now owns 5,432 shares of the construction company’s stock worth $88,000 after purchasing an additional 668 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of Aegion by 78.6% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,532 shares of the construction company’s stock worth $109,000 after purchasing an additional 2,875 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Aegion during the fourth quarter worth $150,000. Finally, Strs Ohio acquired a new stake in shares of Aegion during the first quarter worth $151,000. Institutional investors and hedge funds own 97.37% of the company’s stock.
Aegion Corporation provides technologies to maintain, rehabilitate, and strengthen infrastructure in the United States, Canada, Europe, and internationally. 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 and natural gas companies.
Further Reading: Hedge Funds
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