FY2024 EPS Estimates for Aecon Group Inc. Increased by Desjardins (TSE:ARE)

Aecon Group Inc. (TSE:ARE) – Investment analysts at Desjardins increased their FY2024 earnings per share estimates for Aecon Group in a report issued on Thursday, October 3rd. Desjardins analyst B. Poirier now forecasts that the company will earn ($0.50) per share for the year, up from their previous estimate of ($0.61). Desjardins currently has a “Buy” rating and a $18.00 target price 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.

Aecon Group (TSE:ARE) last posted its quarterly earnings data on Wednesday, July 24th. The company reported C($1.99) earnings per share 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 firm had revenue of C$853.80 million during the quarter, compared to analysts’ expectations of C$1.01 billion.

A number of other research analysts have also commented on the company. National Bankshares upgraded Aecon Group from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from C$17.00 to C$20.50 in a research report on Monday, July 29th. TD Securities decreased their price target on Aecon Group from C$17.00 to C$16.00 and set a “hold” rating on the stock in a report on Friday, July 26th. National Bank Financial upgraded Aecon Group from a “hold” rating to a “strong-buy” rating in a research report on Sunday, July 28th. Stifel Nicolaus raised their target price on shares of Aecon Group from C$30.00 to C$31.00 in a research note on Friday, October 4th. Finally, BMO Capital Markets lowered their price target on shares of Aecon Group from C$17.50 to C$16.50 in a research report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Aecon Group currently has a consensus rating of “Moderate Buy” and a consensus price target of C$21.16.

Aecon Group Price Performance

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. The stock has a market capitalization of C$1.36 billion, a P/E ratio of -80.85, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13. The company’s 50 day simple moving average is C$18.68 and its 200-day simple moving average is C$17.18. Aecon Group has a one year low of C$8.42 and a one year high of C$22.06.

Aecon Group Announces Dividend

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

Insider Activity at Aecon Group

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

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.