Q2 2024 EPS Estimates for Aecon Group Inc. Boosted by National Bank Financial (TSE:ARE)

Aecon Group Inc. (TSE:ARE) – Investment analysts at National Bank Financial lifted their Q2 2024 earnings per share estimates for Aecon Group in a research note issued on Thursday, April 25th. National Bank Financial analyst M. Sytchev now expects that the company will earn $0.17 per share for the quarter, up from their prior estimate of $0.16. The consensus estimate for Aecon Group’s current full-year earnings is $0.76 per share. National Bank Financial also issued estimates for Aecon Group’s Q3 2024 earnings at $0.36 EPS.

Aecon Group (TSE:ARE) last released its earnings results on Wednesday, April 24th. The company reported C($0.10) EPS for the quarter, topping analysts’ consensus estimates of C($0.14) by C$0.04. Aecon Group had a return on equity of 16.04% and a net margin of 3.49%. The firm had revenue of C$846.59 million for the quarter, compared to analysts’ expectations of C$1.03 billion.

Other equities research analysts also recently issued reports about the company. BMO Capital Markets lifted their price objective on Aecon Group from C$17.50 to C$18.50 in a report on Friday. CIBC lifted their price objective on Aecon Group from C$22.00 to C$23.00 and gave the company an “outperform” rating in a research report on Friday. Canaccord Genuity Group boosted their price target on Aecon Group from C$14.00 to C$26.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Raymond James boosted their price target on Aecon Group from C$16.00 to C$17.00 and gave the stock a “market perform” rating in a report on Friday. Finally, Desjardins boosted their price target on Aecon Group from C$16.00 to C$20.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Aecon Group currently has a consensus rating of “Moderate Buy” and a consensus price target of C$19.17.

Aecon Group Price Performance

TSE ARE opened at C$17.05 on Monday. Aecon Group has a one year low of C$8.42 and a one year high of C$17.40. The stock has a 50-day moving average of C$16.15 and a 200 day moving average of C$13.61. The company has a market capitalization of C$1.06 billion, a price-to-earnings ratio of 8.12, a PEG ratio of 18.18 and a beta of 1.16. The company has a debt-to-equity ratio of 39.29, a quick ratio of 1.27 and a current ratio of 1.42.

Insider Buying and Selling at Aecon Group

In other news, Director Stuart Lee bought 7,000 shares of the stock in a transaction on Friday, March 22nd. The stock was acquired at an average cost of C$16.33 per share, for a total transaction of C$114,310.00. In related news, Director Stuart Lee acquired 7,000 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was purchased at an average cost of C$16.33 per share, for a total transaction of C$114,310.00. Also, Senior Officer Adam Robert Borgatti acquired 4,231 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were bought at an average price of C$13.07 per share, with a total value of C$55,299.17. 1.72% of the stock is currently owned by corporate insiders.

Aecon Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Friday, March 22nd were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 4.46%. The ex-dividend date was Thursday, March 21st. This is an increase from Aecon Group’s previous quarterly dividend of $0.19. Aecon Group’s dividend payout ratio is 36.19%.

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.