Q2 2024 EPS Estimates for Aecon Group Inc. (TSE:ARE) Reduced by Atb Cap Markets

Aecon Group Inc. (TSE:ARE) – Equities researchers at Atb Cap Markets dropped their Q2 2024 earnings estimates for Aecon Group in a research note issued on Monday, July 1st. Atb Cap Markets analyst C. Murray now expects that the company will post earnings per share of ($2.72) for the quarter, down from their prior forecast of $0.09. 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 FY2024 earnings at ($1.87) EPS, Q1 2025 earnings at ($0.13) EPS and Q4 2025 earnings at $0.66 EPS.

Several other brokerages have also issued reports on ARE. ATB Capital lifted their price target on shares of 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. Paradigm Capital lifted their price target on shares of Aecon Group from C$14.00 to C$17.80 and gave the company a “hold” rating in a research note on Friday, April 26th. BMO Capital Markets lowered shares of Aecon Group from an “outperform” rating to a “market perform” rating and lowered their price target for the company from C$18.50 to C$17.50 in a research note on Tuesday. CIBC lifted 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 report on Friday, April 26th. Finally, Raymond James lifted their price objective on shares of Aecon Group from C$16.00 to C$17.00 and gave the company a “market perform” rating in a research report on Friday, April 26th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$18.32.

Aecon Group Stock Up 3.5 %

Shares of ARE stock opened at C$14.50 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 1 year low of C$8.42 and a 1 year high of C$17.40. The firm’s fifty day moving average price is C$16.64 and its two-hundred day moving average price is C$15.49. The firm has a market capitalization of C$902.92 million, a P/E ratio of 6.74, a PEG ratio of 18.18 and a beta of 1.19.

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

Aecon Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Wednesday, July 3rd were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 5.24%. The ex-dividend date was 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.