Aecon Group Inc. (TSE:ARE) Expected to Earn FY2024 Earnings of ($0.46) Per Share

Aecon Group Inc. (TSE:ARE) – Research analysts at Stifel Canada cut their FY2024 earnings estimates for shares of Aecon Group in a note issued to investors on Thursday, October 3rd. Stifel Canada analyst I. Gillies now anticipates that the company will earn ($0.46) per share for the year, down from their prior estimate of ($0.44). Stifel Canada currently 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 analysts have also commented on the stock. CIBC cut their target price on shares of Aecon Group from C$23.00 to C$22.00 in a research note on Thursday, July 11th. Royal Bank of Canada increased their target price on shares of Aecon Group from C$13.00 to C$17.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. BMO Capital Markets cut their target price on shares of Aecon Group from C$17.50 to C$16.50 in a research note on Wednesday, July 24th. Canaccord Genuity Group upped their price target on shares of Aecon Group from C$25.00 to C$28.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Finally, ATB Capital upped their price target on shares of Aecon Group from C$21.00 to C$29.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Aecon Group has an average rating of “Moderate Buy” and a consensus price target of C$21.16.

Aecon Group Stock Up 1.8 %

ARE stock opened at C$21.89 on Monday. Aecon Group has a 12 month low of C$8.42 and a 12 month high of C$22.06. The firm has a market cap of C$1.37 billion, a PE ratio of -81.07, a P/E/G ratio of 18.18 and a beta of 1.13. The firm has a 50 day simple moving average of C$18.38 and a 200 day simple moving average of C$17.11. 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 (TSE:ARE) last released its earnings results on Wednesday, July 24th. The company reported C($1.99) EPS for the quarter, beating the consensus estimate of C($2.53) by C$0.54. Aecon Group had a net margin of 0.32% and a return on equity of 1.40%. The business had revenue of C$853.80 million during the quarter, compared to analyst estimates of C$1.01 billion.

Aecon Group Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Friday, September 20th. This represents a $0.76 annualized dividend and a dividend yield of 3.47%. Aecon Group’s dividend payout ratio (DPR) is -281.48%.

Insider Transactions at Aecon Group

In other Aecon Group news, Director Scott Stewart purchased 10,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were bought at an average price of C$16.54 per share, for a total transaction of C$165,380.00. In other news, Senior Officer Timothy John Murphy acquired 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, with a total value of C$74,969.84. Also, Director Scott Stewart acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were purchased at an average cost of C$16.54 per share, with a total value of C$165,380.00. Insiders have acquired a total of 16,549 shares of company stock worth $274,762 in the last 90 days. 0.82% of the stock is owned by 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.