Aecon Group FY2024 EPS Raised by National Bank Financial

Aecon Group Inc. (TSE:ARE) – National Bank Financial lifted their FY2024 earnings per share estimates for shares of Aecon Group in a research report issued on Monday, October 21st. National Bank Financial analyst M. Sytchev now forecasts that the company will earn ($0.98) per share for the year, up from their prior estimate of ($1.23). National Bank Financial 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. National Bank Financial also issued estimates for Aecon Group’s FY2025 earnings at $1.37 EPS.

ARE has been the subject of a number of other research reports. Royal Bank of Canada lifted 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. Stifel Nicolaus boosted their price objective on Aecon Group from C$30.00 to C$31.00 in a research note on Friday, October 4th. CIBC raised their target price on Aecon Group from C$22.00 to C$25.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. BMO Capital Markets reduced their price target on shares of Aecon Group from C$17.50 to C$16.50 in a research report on Wednesday, July 24th. Finally, Stifel Canada upgraded shares of Aecon Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$21.44.

Aecon Group Price Performance

TSE:ARE opened at C$22.50 on Thursday. The company has a quick ratio of 1.27, a current ratio of 1.35 and a debt-to-equity ratio of 32.86. The firm has a market cap of C$1.41 billion, a PE ratio of -83.33, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13. Aecon Group has a 12 month low of C$8.42 and a 12 month high of C$23.20. The company’s 50-day moving average price is C$20.00 and its two-hundred day moving average price is C$17.62.

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

Insider Activity

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

Aecon Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, October 2nd were given 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 3.38%. Aecon Group’s payout ratio is currently -281.48%.

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.