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December 18, 2013
12:16 EDTAEGN, SHAW, PTCK, LAYNAegion approaches 52-week low after cutting full year guidance
Shares of infrastructure protection and maintenance provider Aegion Corporation (AEGN) are falling after the company lowered its fiscal 2013 profit outlook below analystsí consensus estimate. WHAT'S NEW: This morning, Aegion lowered its fiscal 2013 adjusted profit view to $1.27-$1.32 from $1.53-$1.60. Analystsí consensus outlook was $1.42. The company also provided fourth quarter earnings per share guidance of 40c-45c, excluding certain items, compared to the consensus of 58c. The company cited several reasons for the lowered guidance including a lower workable backlog, inaccurate cost estimates for several key projects, and the postponement of new projects. The delay of a number of projects until 2014 also affected Aegion's fourth quarter guidance. PRICE ACTION: In early afternoon trading, Aegion fell $1.76 or 8% to $20.20 on nearly twice its average daily trading volume. The shares are approaching their 52-week low of $19.72 reached in April, and are down approximately 9% since the start of the year. OTHERS TO WATCH: Others in the infrastructure protection and maintenance space include The Shaw Group (SHAW), Pro-Tech Industries (PTCK), and Layne Christensen (LAYN).
News For AEGN;SHAW;PTCK;LAYN From The Last 14 Days
Check below for free stories on AEGN;SHAW;PTCK;LAYN the last two weeks.
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April 23, 2014
10:01 EDTAEGNOn The Fly: Analyst Downgrade Summary
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09:12 EDTAEGNAegion downgraded to Neutral from Buy at Sidoti
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April 10, 2014
09:27 EDTLAYNLayne Christensen Heavy Civil division announces $24M in new contracts
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April 9, 2014
10:06 EDTAEGNOn The Fly: Analyst Initiation Summary
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06:06 EDTAEGNAegion initiated with a Buy at DA Davidson
Target $30.

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