FY2024 EPS Estimates for Aecon Group Lowered by Analyst

Aecon Group Inc. (TSE:ARE) – Raymond James lowered their FY2024 EPS estimates for Aecon Group in a report issued on Monday, November 4th. Raymond James analyst F. Bastien now expects that the company will post earnings of ($0.85) per share for the year, down from their previous forecast of ($0.65). The consensus estimate for Aecon Group’s current full-year earnings is $1.38 per share. Raymond James also issued estimates for Aecon Group’s Q4 2024 earnings at $0.31 EPS, Q1 2025 earnings at $0.01 EPS, Q2 2025 earnings at $0.06 EPS, Q3 2025 earnings at $0.98 EPS and Q4 2025 earnings at $0.45 EPS.

Several other brokerages also recently commented on ARE. National Bankshares raised shares of Aecon Group from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from C$17.00 to C$20.50 in a research note on Monday, July 29th. Stifel Canada raised shares of Aecon Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 25th. TD Securities upgraded shares of Aecon Group from a “hold” rating to a “buy” rating and lifted their price target for the company from C$23.00 to C$35.00 in a report on Monday. CIBC lifted their price target on shares of Aecon Group from C$25.00 to C$29.00 in a report on Monday. Finally, Canaccord Genuity Group lifted their price target on shares of Aecon Group from C$28.00 to C$33.00 in a report on Monday. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Aecon Group currently has an average rating of “Moderate Buy” and an average price target of C$25.94.

Aecon Group Stock Up 0.0 %

Shares of TSE ARE opened at C$28.60 on Wednesday. The company has a quick ratio of 1.27, a current ratio of 1.35 and a debt-to-equity ratio of 32.86. Aecon Group has a 52 week low of C$10.30 and a 52 week high of C$28.79. The firm’s fifty day moving average is C$21.05 and its 200 day moving average is C$18.03. The company has a market cap of C$1.79 billion, a price-to-earnings ratio of -105.93, a PEG ratio of 18.18 and a beta of 1.13.

Aecon Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Wednesday, October 2nd were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend was Friday, September 20th. Aecon Group’s dividend payout ratio (DPR) is -281.48%.

Insider Activity at Aecon Group

In other news, Senior Officer Timothy John Murphy acquired 4,244 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average cost of C$17.66 per share, with a total value of C$74,969.84. 0.82% of the stock is currently owned by insiders.

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.