Equities Analysts Set Expectations for Aecon Group Inc.’s FY2024 Earnings (TSE:ARE)

Aecon Group Inc. (TSE:ARE) – Equities researchers at Stifel Canada reduced their FY2024 earnings estimates for Aecon Group in a research report issued on Thursday, October 3rd. Stifel Canada analyst I. Gillies now expects that the company will earn ($0.46) per share for the year, down from their previous estimate of ($0.44). Stifel Canada has a “Strong-Buy” rating on the stock. The consensus estimate for Aecon Group’s current full-year earnings is $1.38 per share. Stifel Canada also issued estimates for Aecon Group’s FY2025 earnings at $1.17 EPS.

Several other research analysts have also commented on the stock. CIBC cut their price target on shares of Aecon Group from C$23.00 to C$22.00 in a report on Thursday, July 11th. Royal Bank of Canada upped their price target on shares of Aecon Group from C$13.00 to C$17.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Desjardins cut their price objective on Aecon Group from C$20.00 to C$18.00 and set a “buy” rating on the stock in a research report on Tuesday, July 2nd. BMO Capital Markets decreased their target price on Aecon Group from C$17.50 to C$16.50 in a research report on Wednesday, July 24th. Finally, National Bankshares upgraded Aecon Group from a “sector perform” rating to an “outperform” rating and increased their target price for the company from C$17.00 to C$20.50 in a research note on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Aecon Group presently has an average rating of “Moderate Buy” and a consensus price target of C$21.16.

Aecon Group Stock Performance

TSE ARE opened at C$21.83 on Monday. The company has a debt-to-equity ratio of 32.86, a current ratio of 1.35 and a quick ratio of 1.27. Aecon Group has a 1-year low of C$8.42 and a 1-year high of C$22.06. The firm has a market capitalization of C$1.36 billion, a P/E ratio of -80.85, a P/E/G ratio of 18.18 and a beta of 1.13. The business’s 50-day simple moving average is C$18.68 and its 200-day simple moving average is C$17.18.

Aecon Group (TSE:ARE) last issued its earnings results on Wednesday, July 24th. The company reported C($1.99) earnings per share for the quarter, topping the consensus estimate of C($2.53) by C$0.54. The business had revenue of C$853.80 million for the quarter, compared to analyst estimates of C$1.01 billion. Aecon Group had a return on equity of 1.40% and a net margin of 0.32%.

Insider Buying and Selling at Aecon Group

In other news, Senior Officer Timothy John Murphy purchased 4,244 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average cost of C$17.66 per share, for a total transaction of C$74,969.84. In other Aecon Group news, Senior Officer Timothy John Murphy bought 4,244 shares of the stock in a transaction on Thursday, August 8th. The stock was purchased at an average price of C$17.66 per share, for a total transaction of C$74,969.84. Also, Director Scott Stewart purchased 10,000 shares of Aecon Group stock in a transaction dated Monday, July 29th. The stock was acquired at an average price of C$16.54 per share, for a total transaction of C$165,380.00. Insiders have purchased 16,549 shares of company stock worth $274,762 in the last ninety days. 0.82% of the stock is owned by insiders.

Aecon Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Wednesday, October 2nd were issued a $0.19 dividend. The ex-dividend date was Friday, September 20th. This represents a $0.76 annualized dividend and a yield of 3.48%. Aecon Group’s dividend payout ratio is presently -281.48%.

Aecon Group Company Profile

Aecon Group Inc, together with its subsidiaries, provide construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally. It operates through two segments, Construction and Concessions. The Construction segment focuses on civil infrastructure, urban transportation solutions, nuclear power infrastructure, utility infrastructure, and conventional industrial infrastructure market sectors.