We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Aegion (AEGN) Declares a $10M New Share Repurchase Plan
Read MoreHide Full Article
Aegion Corporation has authorized a new program to repurchase up to $10 million shares through the remainder of 2016. The new repurchase program will begin immediately following the completion of the currently authorized $20 million share repurchase program.
The authorization under the new repurchase program is in addition to any shares purchased during 2016 under the current or former repurchase programs. The buyback will either expire on December 31, 2016 or upon the repurchase of $10 million shares, whichever is earlier. The program reflects Aegion’s strong cash position and its commitment to utilize excess cash to enhance stockholder value.
Aegion returned cash to stockholders and spent $25 million to repurchase about 1.5 million shares during the first half of 2016, including the shares repurchased for the management incentive equity program. Further repurchases will support the stock.
In 2015, Aegion generated strong cash flow from having wind down operations in Asia Pacific, supplementing fairly dramatic DSO improvement. At the end of second quarter 2016, the company had over $20 million of receivables from certain large international projects that were in the later stages of completion and pending final billings with customers.
The company continues to expect capital expenditure for 2016 to be approximately $35 million in its bid to support the Appomattox project. Aegion made approximately $9 million in debt repayments so far this year per the terms of the credit agreement. It has scheduled quarterly debt repayments close to $18 million for 2016.
Moreover, Aegion continue to pursue opportunities for future sustainable growth by aligning its diversified portfolio including the municipal water and wastewater pipeline rehabilitation and midstream pipeline corrosion prevention and monitoring end market.
Aegion currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the same industry include Gibraltar Industries, Inc. (ROCK - Free Report) , Trex Co. Inc. (TREX - Free Report) and United Rentals, Inc. (URI - Free Report) . All three stocks sport a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Aegion (AEGN) Declares a $10M New Share Repurchase Plan
Aegion Corporation has authorized a new program to repurchase up to $10 million shares through the remainder of 2016. The new repurchase program will begin immediately following the completion of the currently authorized $20 million share repurchase program.
The authorization under the new repurchase program is in addition to any shares purchased during 2016 under the current or former repurchase programs. The buyback will either expire on December 31, 2016 or upon the repurchase of $10 million shares, whichever is earlier. The program reflects Aegion’s strong cash position and its commitment to utilize excess cash to enhance stockholder value.
Aegion returned cash to stockholders and spent $25 million to repurchase about 1.5 million shares during the first half of 2016, including the shares repurchased for the management incentive equity program. Further repurchases will support the stock.
AEGION CORP Price
AEGION CORP Price | AEGION CORP Quote
In 2015, Aegion generated strong cash flow from having wind down operations in Asia Pacific, supplementing fairly dramatic DSO improvement. At the end of second quarter 2016, the company had over $20 million of receivables from certain large international projects that were in the later stages of completion and pending final billings with customers.
The company continues to expect capital expenditure for 2016 to be approximately $35 million in its bid to support the Appomattox project. Aegion made approximately $9 million in debt repayments so far this year per the terms of the credit agreement. It has scheduled quarterly debt repayments close to $18 million for 2016.
Moreover, Aegion continue to pursue opportunities for future sustainable growth by aligning its diversified portfolio including the municipal water and wastewater pipeline rehabilitation and midstream pipeline corrosion prevention and monitoring end market.
Aegion currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the same industry include Gibraltar Industries, Inc. (ROCK - Free Report) , Trex Co. Inc. (TREX - Free Report) and United Rentals, Inc. (URI - Free Report) . All three stocks sport a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>