Atlas Engineered Products Ltd. (CVE:AEP) to Post Q3 2024 Earnings of $0.02 Per Share, Raymond James Forecasts

Atlas Engineered Products Ltd. (CVE:AEP) – Research analysts at Raymond James issued their Q3 2024 earnings estimates for shares of Atlas Engineered Products in a research report issued to clients and investors on Wednesday, September 11th. Raymond James analyst D. Swetlishoff expects that the company will earn $0.02 per share for the quarter. Raymond James currently has a “Strong-Buy” rating on the stock. The consensus estimate for Atlas Engineered Products’ current full-year earnings is $0.07 per share. Raymond James also issued estimates for Atlas Engineered Products’ Q4 2024 earnings at $0.01 EPS, FY2024 earnings at $0.03 EPS and FY2025 earnings at $0.13 EPS.

Atlas Engineered Products (CVE:AEP) last announced its quarterly earnings results on Friday, August 16th. The company reported C$0.01 earnings per share for the quarter. The firm had revenue of C$15.09 million for the quarter, compared to analysts’ expectations of C$13.95 million. Atlas Engineered Products had a return on equity of 3.90% and a net margin of 2.90%.

Other analysts have also issued reports about the company. Cormark cut their price target on Atlas Engineered Products from C$2.20 to C$2.10 in a report on Tuesday, August 20th. Ventum Cap Mkts raised Atlas Engineered Products to a “strong-buy” rating in a research report on Thursday, June 27th. Finally, Clarus Securities upgraded shares of Atlas Engineered Products to a “strong-buy” rating in a report on Monday, June 3rd.

Atlas Engineered Products Stock Up 6.3 %

CVE AEP opened at C$1.35 on Monday. The stock has a fifty day moving average of C$1.32 and a 200-day moving average of C$1.42. The stock has a market capitalization of C$79.81 million, a P/E ratio of 19.29 and a beta of 1.13. Atlas Engineered Products has a 52 week low of C$0.93 and a 52 week high of C$1.70. The company has a debt-to-equity ratio of 62.14, a quick ratio of 2.31 and a current ratio of 4.16.

Insider Activity

In other news, Director Mohammad Hadi Abassi sold 195,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of C$1.30, for a total transaction of C$253,500.00. Insiders own 16.92% of the company’s stock.

Atlas Engineered Products Company Profile

Atlas Engineered Products Ltd. engages in the design, manufacture, and sale of engineered roof trusses, floor trusses, and wall panels 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.