Q3 2024 EPS Estimates for Aecon Group Inc. (TSE:ARE) Reduced by Analyst

Aecon Group Inc. (TSE:ARE) – Investment analysts at Atb Cap Markets reduced their Q3 2024 earnings estimates for Aecon Group in a research report issued to clients and investors on Monday, July 1st. Atb Cap Markets analyst C. Murray now expects that the company will earn $0.57 per share for the quarter, down from their prior estimate of $0.58. The consensus estimate for Aecon Group’s current full-year earnings is $0.91 per share. Atb Cap Markets also issued estimates for Aecon Group’s Q4 2024 earnings at $0.31 EPS, Q2 2025 earnings at $0.40 EPS, Q3 2025 earnings at $0.99 EPS and FY2025 earnings at $1.92 EPS.

Several other research firms have also weighed in on ARE. Canaccord Genuity Group raised their price objective on shares of Aecon Group from C$14.00 to C$26.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. CIBC upped their price objective on shares of Aecon Group from C$22.00 to C$23.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. TD Securities reduced their price target on shares of Aecon Group from C$18.00 to C$17.00 and set a “hold” rating for the company in a research report on Tuesday. National Bankshares increased their price target on shares of Aecon Group from C$15.00 to C$18.00 and gave the stock a “sector perform” rating in a research report on Friday, April 26th. Finally, ATB Capital increased their price target on shares of Aecon Group from C$19.50 to C$21.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of C$18.38.

Aecon Group Stock Performance

Shares of ARE opened at C$14.01 on Wednesday. The firm has a 50-day moving average price of C$16.68 and a 200 day moving average price of C$15.50. The firm has a market capitalization of C$872.40 million, a PE ratio of 6.52, a P/E/G ratio of 18.18 and a beta of 1.19. The company has a quick ratio of 1.27, a current ratio of 1.50 and a debt-to-equity ratio of 28.71. Aecon Group has a 52-week low of C$8.42 and a 52-week high of C$17.40.

Aecon Group (TSE:ARE) last announced 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. The firm had revenue of C$846.59 million during the quarter, compared to analyst estimates of C$1.03 billion. Aecon Group had a net margin of 3.77% and a return on equity of 16.62%.

Aecon Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Wednesday, July 3rd will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 5.42%. The ex-dividend date of this dividend is Friday, June 21st. Aecon Group’s payout ratio is presently 35.35%.

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.