Raymond James Forecasts Weaker Earnings for Aecon Group

Aecon Group Inc. (TSE:ARE) – Stock analysts at Raymond James decreased their FY2024 EPS estimates for Aecon Group in a research report issued to clients and investors on Monday, November 4th. Raymond James analyst F. Bastien now expects that the company will earn ($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.

A number of other research analysts also recently weighed in on ARE. BMO Capital Markets raised their target price on shares of Aecon Group from C$16.50 to C$27.00 in a research report on Monday. TD Securities upgraded shares of Aecon Group from a “hold” rating to a “buy” rating and upped their price target for the company from C$23.00 to C$35.00 in a research note on Monday. Canaccord Genuity Group upped their price target on shares of Aecon Group from C$28.00 to C$33.00 in a research note on Monday. Stifel Canada raised Aecon Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 25th. Finally, CIBC boosted their price objective on shares of Aecon Group from C$25.00 to C$29.00 in a research report on Monday. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$25.94.

Aecon Group Stock Up 0.8 %

ARE stock opened at C$29.07 on Wednesday. The stock has a market capitalization of C$1.82 billion, a P/E ratio of -107.67, a P/E/G ratio of 18.18 and a beta of 1.13. The business has a 50-day moving average of C$21.48 and a 200-day moving average of C$18.19. The company has a debt-to-equity ratio of 32.86, a current ratio of 1.35 and a quick ratio of 1.27. Aecon Group has a fifty-two week low of C$10.30 and a fifty-two week high of C$29.50.

Aecon Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, October 2nd were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date was Friday, September 20th. Aecon Group’s dividend payout ratio is currently -281.48%.

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.