Q2 2024 EPS Estimates for Aecon Group Inc. (TSE:ARE) Reduced by Atb Cap Markets

Aecon Group Inc. (TSE:ARE) – Analysts at Atb Cap Markets dropped their Q2 2024 earnings per share (EPS) estimates for Aecon Group in a report issued on Monday, July 1st. Atb Cap Markets analyst C. Murray now anticipates that the company will post earnings of ($2.72) per share for the quarter, down from their previous forecast of $0.09. The consensus estimate for Aecon Group’s current full-year earnings is $0.91 per share. Atb Cap Markets also issued estimates for Aecon Group’s FY2024 earnings at ($1.87) EPS, Q1 2025 earnings at ($0.13) EPS and Q4 2025 earnings at $0.66 EPS.

A number of other equities analysts also recently commented on the company. Desjardins decreased their target price on Aecon Group from C$20.00 to C$18.00 and set a “buy” rating for the company in a research note on Tuesday. ATB Capital lifted their target price on Aecon Group from C$19.50 to C$21.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. CIBC lifted their target price on Aecon Group from C$22.00 to C$23.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. TD Securities decreased their target price on Aecon Group from C$18.00 to C$17.00 and set a “hold” rating for the company in a research note on Tuesday. Finally, Stifel Nicolaus boosted their price objective on Aecon Group from C$16.25 to C$16.50 in a research report on Wednesday. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Aecon Group currently has an average rating of “Hold” and a consensus price target of C$18.32.

Aecon Group Stock Performance

Shares of ARE stock opened at C$14.50 on Thursday. 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 business has a 50 day moving average of C$16.64 and a two-hundred day moving average of C$15.49. Aecon Group has a 52 week low of C$8.42 and a 52 week high of C$17.40. The company has a market cap of C$902.92 million, a P/E ratio of 6.74, a PEG ratio of 18.18 and a beta of 1.19.

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

Aecon Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 3rd. Shareholders of record on Wednesday, July 3rd were issued a $0.19 dividend. The ex-dividend date of this dividend was Friday, June 21st. This represents a $0.76 annualized dividend and a dividend yield of 5.24%. Aecon Group’s dividend payout ratio is currently 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.