Aecon Group Inc. Forecasted to Earn FY2024 Earnings of ($0.50) Per Share (TSE:ARE)

Aecon Group Inc. (TSE:ARE) – Equities research analysts at Desjardins upped their FY2024 earnings per share estimates for Aecon Group in a research report issued to clients and investors on Thursday, October 3rd. Desjardins analyst B. Poirier now expects that the company will post earnings of ($0.50) per share for the year, up from their prior estimate of ($0.61). Desjardins currently has a “Buy” rating and a $18.00 price target on the stock. The consensus estimate for Aecon Group’s current full-year earnings is $1.38 per share. Desjardins also issued estimates for Aecon Group’s FY2025 earnings at $1.44 EPS.

A number of other equities analysts also recently issued reports on ARE. TD Securities reduced their price target on Aecon Group from C$17.00 to C$16.00 and set a “hold” rating on the stock in a research report on Friday, July 26th. BMO Capital Markets cut their target price on Aecon Group from C$17.50 to C$16.50 in a research report on Wednesday, July 24th. Royal Bank of Canada upped their target price on Aecon Group from C$13.00 to C$17.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. National Bank Financial raised Aecon Group from a “hold” rating to a “strong-buy” rating in a research report on Sunday, July 28th. Finally, Stifel Canada raised Aecon Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 25th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$21.16.

Aecon Group Stock Performance

Shares of TSE:ARE opened at C$21.89 on Monday. The firm has a 50 day moving average of C$18.38 and a 200 day moving average of C$17.11. The company has a market capitalization of C$1.37 billion, a price-to-earnings ratio of -81.07, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13. The company has a quick ratio of 1.27, a current ratio of 1.35 and a debt-to-equity ratio of 32.86. Aecon Group has a 52 week low of C$8.42 and a 52 week high of C$22.06.

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

Aecon Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, October 2nd were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend was Friday, September 20th. Aecon Group’s payout ratio is currently -281.48%.

Insider Transactions at Aecon Group

In other news, Senior Officer Timothy John Murphy bought 4,244 shares of the stock in a transaction dated Thursday, August 8th. The shares were acquired at an average cost of C$17.66 per share, with a total value of C$74,969.84. In related news, Senior Officer Timothy John Murphy purchased 4,244 shares of Aecon Group stock in a transaction that occurred 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 that occurred on Monday, July 29th. The shares were bought at an average price of C$16.54 per share, with a total value of C$165,380.00. Insiders have bought a total of 16,549 shares of company stock valued at $274,762 in the last ninety days. 0.82% of the stock is currently owned by corporate insiders.

About Aecon Group

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.