Equities Analysts Issue Forecasts for Aecon Group Inc.’s Q2 2024 Earnings (TSE:ARE)

Aecon Group Inc. (TSE:ARE) – Analysts at Desjardins decreased their Q2 2024 earnings per share estimates for Aecon Group in a research report issued on Thursday, April 25th. Desjardins analyst B. Poirier now forecasts that the company will post earnings per share of $0.02 for the quarter, down from their prior forecast of $0.03. Desjardins currently has a “Buy” rating and a $20.00 target price on the stock. The consensus estimate for Aecon Group’s current full-year earnings is $0.76 per share. Desjardins also issued estimates for Aecon Group’s Q3 2024 earnings at $0.50 EPS, Q4 2024 earnings at $0.31 EPS, FY2024 earnings at $0.75 EPS and FY2025 earnings at $1.09 EPS.

Aecon Group (TSE:ARE) last posted its quarterly earnings results 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. Aecon Group had a net margin of 3.49% and a return on equity of 16.04%. The company had revenue of C$846.59 million during the quarter, compared to analyst estimates of C$1.03 billion.

ARE has been the subject of several other reports. Royal Bank of Canada raised their price target on shares of Aecon Group from C$13.00 to C$16.00 and gave the company a “sector perform” rating in a report on Friday. TD Securities lifted their price objective on Aecon Group from C$14.00 to C$18.50 and gave the company a “hold” rating in a research note on Friday, March 8th. National Bankshares upped their target price on Aecon Group from C$15.00 to C$18.00 and gave the stock a “sector perform” rating in a research note on Friday. Raymond James lifted their price target on Aecon Group from C$16.00 to C$17.00 and gave the company a “market perform” rating in a research report on Friday. Finally, Paradigm Capital upped their price objective on shares of Aecon Group from C$14.00 to C$17.80 and gave the stock a “hold” rating in a research report on Friday. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$19.17.

Aecon Group Stock Down 0.4 %

Aecon Group stock opened at C$16.98 on Monday. The company has a current ratio of 1.42, a quick ratio of 1.27 and a debt-to-equity ratio of 39.29. Aecon Group has a 1-year low of C$8.42 and a 1-year high of C$17.40. The firm has a market capitalization of C$1.06 billion, a price-to-earnings ratio of 8.09, a P/E/G ratio of 18.18 and a beta of 1.16. The firm has a 50 day simple moving average of C$16.21 and a 200 day simple moving average of C$13.66.

Insider Buying and Selling

In other Aecon Group news, Senior Officer Adam Robert Borgatti purchased 4,231 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was acquired at an average cost of C$13.07 per share, for a total transaction of C$55,299.17. In related news, Senior Officer Adam Robert Borgatti purchased 4,231 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were acquired at an average cost of C$13.07 per share, with a total value of C$55,299.17. Also, Senior Officer Martina Doyle sold 2,265 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of C$16.42, for a total value of C$37,191.30. 1.72% of the stock is owned by corporate insiders.

Aecon Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Friday, March 22nd were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $0.76 annualized dividend and a dividend yield of 4.48%. This is a positive change from Aecon Group’s previous quarterly dividend of $0.19. Aecon Group’s dividend payout ratio (DPR) is currently 36.19%.

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.