FY2024 EPS Estimates for Aecon Group Decreased by Desjardins

Aecon Group Inc. (TSE:ARE) – Research analysts at Desjardins decreased their FY2024 EPS estimates for shares of Aecon Group in a research note issued on Sunday, November 3rd. Desjardins analyst B. Poirier now expects that the company will post earnings of ($0.67) per share for the year, down from their prior estimate of ($0.50). 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 $0.48 EPS and FY2025 earnings at $1.38 EPS.

ARE has been the subject of a number of other reports. Stifel Canada raised shares of Aecon Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 25th. Royal Bank of Canada boosted their price target on shares of Aecon Group from C$13.00 to C$17.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Stifel Nicolaus increased their price objective on shares of Aecon Group from C$30.00 to C$31.00 in a report on Friday, October 4th. Canaccord Genuity Group lifted their target price on Aecon Group from C$28.00 to C$33.00 in a report on Monday. Finally, BMO Capital Markets increased their price target on Aecon Group from C$16.50 to C$27.00 in a research note on Monday. Four research 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 MarketBeat.com, Aecon Group presently has a consensus rating of “Moderate Buy” and an average target price of C$25.94.

Aecon Group Stock Performance

TSE:ARE opened at C$29.07 on Wednesday. The stock has a 50-day moving average price of C$21.48 and a 200 day moving average price of C$18.19. 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. Aecon Group has a 12-month low of C$10.30 and a 12-month high of C$29.50. The company has a current ratio of 1.35, a quick ratio of 1.27 and a debt-to-equity ratio of 32.86.

Aecon Group Announces Dividend

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