Q3 2024 EPS Estimates for Aecon Group Inc. (TSE:ARE) Lowered by Analyst

Aecon Group Inc. (TSE:ARE) – Investment analysts at Atb Cap Markets cut their Q3 2024 earnings per share estimates for shares of Aecon Group in a research note issued on Monday, July 1st. Atb Cap Markets analyst C. Murray now anticipates that the company will post earnings of $0.57 per share for the quarter, down from their prior estimate of $0.58. 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 Q4 2024 earnings at $0.31 EPS, Q2 2025 earnings at $0.40 EPS, Q3 2025 earnings at $0.99 EPS and FY2025 earnings at $1.92 EPS.

ARE has been the topic of several other reports. Stifel Nicolaus upped their price target on Aecon Group from C$16.25 to C$16.50 in a research report on Wednesday. TD Securities dropped their price target on Aecon Group from C$18.00 to C$17.00 and set a “hold” rating on the stock in a research report on Tuesday. Desjardins dropped their price target on Aecon Group from C$20.00 to C$18.00 and set a “buy” rating on the stock in a research report on Tuesday. Raymond James upped their price objective on Aecon Group from C$16.00 to C$17.00 and gave the stock a “market perform” rating in a research note on Friday, April 26th. Finally, ATB Capital upped their price objective on Aecon Group from C$19.50 to C$21.00 and gave the stock 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 assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of C$18.32.

Aecon Group Stock Performance

Shares of ARE opened at C$14.50 on Wednesday. The business’s 50 day moving average is C$16.64 and its two-hundred day moving average is C$15.49. Aecon Group has a 52-week low of C$8.42 and a 52-week high of C$17.40. The firm has a market cap of C$902.92 million, a price-to-earnings ratio of 6.74, a PEG ratio of 18.18 and a beta of 1.19. The company has a quick ratio of 1.27, a current ratio of 1.50 and a debt-to-equity ratio of 28.71.

Aecon Group (TSE:ARE) last announced its earnings results on Wednesday, April 24th. The company reported C($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of C$1.03 billion.

Aecon Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 3rd. Investors of record on Wednesday, July 3rd were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 5.24%. The ex-dividend date of this dividend was Friday, June 21st. Aecon Group’s dividend payout ratio is currently 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.