Aecon Group Inc. Expected to Post Q3 2024 Earnings of $0.85 Per Share (TSE:ARE)

Aecon Group Inc. (TSE:ARE) – Research analysts at Desjardins lifted their Q3 2024 EPS estimates for Aecon Group in a research note issued on Thursday, October 3rd. Desjardins analyst B. Poirier now anticipates that the company will post earnings of $0.85 per share for the quarter, up from their previous forecast of $0.79. Desjardins has a “Buy” rating and a $18.00 price objective on the stock. The consensus estimate for Aecon Group’s current full-year earnings is $1.38 per share. Desjardins also issued estimates for Aecon Group’s Q4 2024 earnings at $0.64 EPS and FY2026 earnings at $2.46 EPS.

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

Other analysts also recently issued reports about the company. National Bankshares upgraded Aecon Group from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from C$17.00 to C$20.50 in a report on Monday, July 29th. Canaccord Genuity Group increased their price objective on Aecon Group from C$25.00 to C$28.00 and gave the company a “buy” rating in a report on Monday, September 23rd. CIBC decreased their price objective on Aecon Group from C$23.00 to C$22.00 in a report on Thursday, July 11th. Stifel Canada upgraded Aecon Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 25th. Finally, BMO Capital Markets decreased their price objective on Aecon Group from C$17.50 to C$16.50 in a report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Aecon Group presently has a consensus rating of “Moderate Buy” and an average price target of C$21.16.

Aecon Group Stock Up 1.8 %

Shares of TSE:ARE opened at C$21.89 on Friday. The company has a market capitalization of C$1.37 billion, a PE ratio of -81.07, a price-to-earnings-growth ratio of 18.18 and a beta of 1.12. Aecon Group has a 52-week low of C$8.42 and a 52-week high of C$22.06. The company has a fifty day moving average of C$18.24 and a 200-day moving average of C$17.06. The company has a debt-to-equity ratio of 32.86, a quick ratio of 1.27 and a current ratio of 1.35.

Aecon Group Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.47%. Aecon Group’s dividend payout ratio (DPR) is presently -281.48%.

Insider Transactions at Aecon Group

In related news, Senior Officer Timothy John Murphy acquired 4,244 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were bought at an average price of C$17.66 per share, with a total value of C$74,969.84. In other Aecon Group news, Director Scott Stewart purchased 10,000 shares of the company’s 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. Also, Senior Officer Timothy John Murphy purchased 4,244 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average cost of C$17.66 per share, for a total transaction of C$74,969.84. Insiders have purchased 16,549 shares of company stock valued at $274,762 in the last 90 days. 0.82% of the stock is currently owned by corporate 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.