Q: Thoughts on this company? Seems to be really struggling. When do they report ?
5i Research Answer:
E reports Nov 13 but this is only an estimated date and no announcement has been made. The stock is down 33% this year. As a small cap pipeline/construction company, its fortunes swing on the basis of large contracts. There has been no news in nearly three months but the last quarter was weak and it has seen some broker downgrades. Insiders own 17%. We do not think it is a 'bad' company and at 17X earnings is priced OK. But we do not think it needs to be owned at this time.