Aecon Group Inc. (TSE:ARE) Forecasted to Earn Q2 2024 Earnings of $0.17 Per Share

Aecon Group Inc. (TSE:ARE) – National Bank Financial increased their Q2 2024 earnings per share estimates for shares of Aecon Group in a note issued to investors on Thursday, April 25th. National Bank Financial analyst M. Sytchev now anticipates 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.

A number of other brokerages have also weighed in on ARE. BMO Capital Markets increased their price target on Aecon Group from C$17.50 to C$18.50 in a research note on Friday, April 26th. Desjardins upped their price objective 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. National Bankshares upped their price objective on Aecon Group from C$15.00 to C$18.00 and gave the stock a “sector perform” rating in a report on Friday, April 26th. Canaccord Genuity Group upped their price objective 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. Finally, CIBC upped their price objective on Aecon Group from C$22.00 to C$23.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$19.17.

Aecon Group Trading Down 0.4 %

Shares of Aecon Group stock opened at C$16.91 on Monday. Aecon Group has a fifty-two week low of C$8.42 and a fifty-two week high of C$17.40. The firm has a market cap of C$1.05 billion, a PE ratio of 8.05, a P/E/G ratio of 18.18 and a beta of 1.16. The business’s fifty day moving average is C$16.27 and its two-hundred day moving average is C$13.70. The company has a quick ratio of 1.27, a current ratio of 1.42 and a debt-to-equity ratio of 39.29.

Aecon Group (TSE:ARE) last posted its earnings results on Wednesday, April 24th. The company reported C($0.10) earnings per share (EPS) for the quarter, beating 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 analyst estimates of C$1.03 billion.

Insiders Place Their Bets

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

Aecon Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Friday, March 22nd were issued a $0.19 dividend. The ex-dividend date was Thursday, March 21st. This represents a $0.76 dividend on an annualized basis and a yield of 4.49%. This is a boost 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.