Stifel Canada Equities Analysts Decrease Earnings Estimates for Aecon Group Inc. (TSE:ARE)

Aecon Group Inc. (TSE:ARE) – Analysts at Stifel Canada dropped their Q2 2024 earnings per share estimates for shares of Aecon Group in a research note issued to investors on Monday, July 1st. Stifel Canada analyst I. Gillies now anticipates that the company will post earnings of ($2.07) per share for the quarter, down from their previous estimate of $0.06. The consensus estimate for Aecon Group’s current full-year earnings is $0.91 per share. Stifel Canada also issued estimates for Aecon Group’s Q3 2024 earnings at $0.79 EPS, Q4 2024 earnings at $0.53 EPS, FY2024 earnings at ($0.80) EPS, Q2 2025 earnings at $0.26 EPS, Q3 2025 earnings at $0.73 EPS, Q4 2025 earnings at $0.51 EPS and FY2025 earnings at $1.45 EPS.

Aecon Group (TSE:ARE) last issued its earnings results on Wednesday, April 24th. The company reported C($0.10) EPS for the quarter, topping the consensus estimate of C($0.14) by C$0.04. Aecon Group had a return on equity of 16.62% and a net margin of 3.77%. The company had revenue of C$846.59 million during the quarter, compared to the consensus estimate of C$1.03 billion.

ARE has been the subject of several other reports. Desjardins reduced their target price on Aecon Group from C$20.00 to C$18.00 and set a “buy” rating for the company in a research note on Tuesday. ATB Capital boosted their price target on Aecon Group from C$19.50 to C$21.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. National Bankshares boosted their price target on Aecon Group from C$15.00 to C$18.00 and gave the company a “sector perform” rating in a research note on Friday, April 26th. Raymond James boosted 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 note on Friday, April 26th. Finally, CIBC boosted their price target on 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. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of C$18.32.

Aecon Group Stock Performance

Shares of TSE ARE opened at C$14.59 on Thursday. The company has a current ratio of 1.50, a quick ratio of 1.27 and a debt-to-equity ratio of 28.71. Aecon Group has a 12 month low of C$8.42 and a 12 month high of C$17.40. The stock has a 50 day moving average of C$16.59 and a 200-day moving average of C$15.49. The company has a market capitalization of C$908.52 million, a P/E ratio of 6.79, a P/E/G ratio of 18.18 and a beta of 1.19.

Aecon Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Wednesday, July 3rd were given a dividend of $0.19 per share. The ex-dividend date was Friday, June 21st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.21%. Aecon Group’s payout ratio is 35.35%.

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.