Aecon Group Inc. (TSE:ARE) to Post Q2 2024 Earnings of ($2.07) Per Share, Stifel Canada Forecasts

Aecon Group Inc. (TSE:ARE) – Investment analysts at Stifel Canada reduced their Q2 2024 earnings estimates for Aecon Group in a note issued to investors on Monday, July 1st. Stifel Canada analyst I. Gillies now forecasts that the company will post earnings of ($2.07) per share for the quarter, down from their prior forecast of $0.06. The consensus estimate for Aecon Group’s current full-year earnings is $0.91 per share. Stifel Canada also issued estimates for Aecon Group’s Q3 2024 earnings at $0.79 EPS, Q4 2024 earnings at $0.53 EPS, FY2024 earnings at ($0.80) EPS, Q2 2025 earnings at $0.26 EPS, Q3 2025 earnings at $0.73 EPS, Q4 2025 earnings at $0.51 EPS and FY2025 earnings at $1.45 EPS.

Aecon Group (TSE:ARE) last released its quarterly earnings results on Wednesday, April 24th. The company reported C($0.10) EPS for the quarter, beating analysts’ consensus estimates of C($0.14) by C$0.04. The firm had revenue of C$846.59 million for the quarter, compared to analyst estimates of C$1.03 billion. Aecon Group had a net margin of 3.77% and a return on equity of 16.62%.

A number of other equities analysts also recently weighed in on the stock. ATB Capital boosted their target price on shares of Aecon Group from C$19.50 to C$21.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. BMO Capital Markets downgraded shares of Aecon Group from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from C$18.50 to C$17.50 in a research note on Tuesday. Royal Bank of Canada dropped their target price on shares of Aecon Group from C$16.00 to C$13.00 and set a “sector perform” rating for the company in a research note on Tuesday. Raymond James boosted their target price on shares of Aecon Group from C$16.00 to C$17.00 and gave the stock a “market perform” rating in a research note on Friday, April 26th. Finally, Canaccord Genuity Group dropped their target price on shares of Aecon Group from C$26.00 to C$25.00 and set a “buy” rating for the company in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Aecon Group presently has an average rating of “Hold” and a consensus target price of C$18.32.

Aecon Group Price Performance

TSE:ARE opened at C$14.50 on Thursday. The firm has a market cap of C$902.92 million, a PE ratio of 6.74, a price-to-earnings-growth ratio of 18.18 and a beta of 1.19. Aecon Group has a 12 month low of C$8.42 and a 12 month high of C$17.40. The company has a quick ratio of 1.27, a current ratio of 1.50 and a debt-to-equity ratio of 28.71. The company’s 50-day moving average price is C$16.64 and its two-hundred day moving average price is C$15.49.

Aecon Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 3rd. Investors of record on Wednesday, July 3rd were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.24%. The ex-dividend date of this dividend was Friday, June 21st. Aecon Group’s dividend payout ratio (DPR) is 35.35%.

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.