Cormark Comments on Atlas Engineered Products Ltd.’s Q2 2024 Earnings (CVE:AEP)

Atlas Engineered Products Ltd. (CVE:AEP) – Investment analysts at Cormark dropped their Q2 2024 EPS estimates for shares of Atlas Engineered Products in a report released on Thursday, June 27th. Cormark analyst D. Ocampo now forecasts that the company will post earnings of $0.01 per share for the quarter, down from their prior estimate of $0.03. The consensus estimate for Atlas Engineered Products’ current full-year earnings is $0.15 per share. Cormark also issued estimates for Atlas Engineered Products’ FY2024 earnings at $0.04 EPS, Q2 2025 earnings at $0.03 EPS, FY2025 earnings at $0.11 EPS and FY2026 earnings at $0.19 EPS.

Atlas Engineered Products (CVE:AEP) last released its quarterly earnings results on Wednesday, May 29th. The company reported C($0.02) earnings per share for the quarter, missing the consensus estimate of C($0.01) by C($0.01). The firm had revenue of C$9.12 million for the quarter, compared to analysts’ expectations of C$9.20 million. Atlas Engineered Products had a return on equity of 9.95% and a net margin of 6.37%.

A number of other research firms have also recently commented on AEP. Ventum Cap Mkts raised shares of Atlas Engineered Products to a “strong-buy” rating in a report on Thursday, June 27th. Clarus Securities upgraded Atlas Engineered Products to a “strong-buy” rating in a research note on Monday, June 3rd.

Atlas Engineered Products Price Performance

AEP opened at C$1.42 on Monday. Atlas Engineered Products has a twelve month low of C$0.93 and a twelve month high of C$1.70. The company’s 50-day moving average price is C$1.44 and its two-hundred day moving average price is C$1.37. The stock has a market cap of C$83.95 million, a price-to-earnings ratio of 20.29 and a beta of 1.15. The company has a quick ratio of 2.31, a current ratio of 3.89 and a debt-to-equity ratio of 111.14.

Atlas Engineered Products Company Profile

Atlas Engineered Products Ltd. designs, manufactures, and sells engineered roof trusses, floor trusses, wall panels, and windows in Canada. The company offers floor joists and floor panels; and design, engineering, permitting, project management, and site assembly services. It also distributes a range of engineered wood products for builders of residential and commercial wood-framed buildings, including single-family homes, townhouses, multi-story wood-framed residential buildings, commercial buildings, and agricultural structures.