Desjardins Predicts Aecon Group's FY2024 Earnings (TSE:ARE)

Aecon Group Inc. (TSE:ARE - Free Report) - Investment analysts at Desjardins dropped their FY2024 earnings estimates for shares of Aecon Group in a research note issued to investors on Sunday, November 3rd. Desjardins analyst B. Poirier now anticipates that the company will post earnings per share of ($0.67) for the year, down from their previous forecast 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 topic of a number of other reports. TD Securities raised shares of Aecon Group from a "hold" rating to a "buy" rating and boosted their price objective for the company from C$23.00 to C$35.00 in a report on Monday. Stifel Canada raised Aecon Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 25th. National Bankshares upgraded Aecon Group from a "sector perform" rating to an "outperform" rating and raised their price objective for the stock from C$17.00 to C$20.50 in a research note on Monday, July 29th. Canaccord Genuity Group upped their target price on Aecon Group from C$28.00 to C$33.00 in a research report on Monday. Finally, Raymond James raised their price target on shares of Aecon Group from C$24.00 to C$28.00 in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$25.94.

Aecon Group Stock Performance

Aecon Group stock traded up C$0.25 during mid-day trading on Wednesday, reaching C$28.85. 454,527 shares of the company traded hands, compared to its average volume of 294,695. The firm's fifty day moving average is C$21.05 and its two-hundred day moving average is C$18.03. The company has a market capitalization of C$1.80 billion, a price-to-earnings ratio of -105.93, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13. Aecon Group has a fifty-two week low of C$10.30 and a fifty-two week high of C$29.16. The company has a debt-to-equity ratio of 32.86, a current ratio of 1.35 and a quick ratio of 1.27.

Aecon Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Wednesday, October 2nd were given a dividend of $0.19 per share. The ex-dividend date was Friday, September 20th. This represents a $0.76 annualized dividend and a yield of 2.63%. Aecon Group's dividend payout ratio is presently -281.48%.

Insider Buying and Selling at Aecon Group

In other Aecon Group news, Senior Officer Timothy John Murphy bought 4,244 shares of the company's stock in a transaction dated Thursday, August 8th. The shares were purchased at an average cost of C$17.66 per share, for a total transaction of C$74,969.84. 0.82% of the stock is owned by corporate insiders.

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.