Raymond James Decreases Earnings Estimates for Aecon Group

Aecon Group Inc. (TSE:ARE - Free Report) - Equities research analysts at Raymond James lowered their FY2024 earnings estimates for shares of Aecon Group in a report issued on Monday, November 4th. Raymond James analyst F. Bastien now anticipates that the company will earn ($0.85) per share for the year, down from their previous estimate of ($0.65). The consensus estimate for Aecon Group's current full-year earnings is $1.38 per share. Raymond James also issued estimates for Aecon Group's Q4 2024 earnings at $0.31 EPS, Q1 2025 earnings at $0.01 EPS, Q2 2025 earnings at $0.06 EPS, Q3 2025 earnings at $0.98 EPS and Q4 2025 earnings at $0.45 EPS.

Several other research analysts also recently commented on ARE. National Bank Financial raised shares of Aecon Group from a "hold" rating to a "strong-buy" rating in a report on Sunday, July 28th. BMO Capital Markets raised their price target on Aecon Group from C$16.50 to C$27.00 in a research report on Monday. Stifel Nicolaus lifted their price objective on shares of Aecon Group from C$30.00 to C$31.00 in a research note on Friday, October 4th. CIBC increased their target price on shares of Aecon Group from C$25.00 to C$29.00 in a research note on Monday. Finally, Canaccord Genuity Group lifted their price target on shares of Aecon Group from C$28.00 to C$33.00 in a research note on Monday. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of C$25.94.

Aecon Group Price Performance

Shares of TSE:ARE traded up C$0.25 during trading on Wednesday, hitting C$28.85. 454,527 shares of the company's stock were exchanged, compared to its average volume of 294,695. The business's 50-day simple moving average is C$21.05 and its 200 day simple moving average is C$18.03. The company has a market cap of C$1.80 billion, a price-to-earnings ratio of -105.93, a PEG ratio of 18.18 and a beta of 1.13. Aecon Group has a 52-week low of C$10.30 and a 52-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 firm also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, October 2nd were issued a $0.19 dividend. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.76 annualized dividend and a dividend yield of 2.63%. Aecon Group's dividend payout ratio is currently -281.48%.

Insider Transactions at Aecon Group

In other Aecon Group news, Senior Officer Timothy John Murphy acquired 4,244 shares of the business's stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average cost of C$17.66 per share, with a total value of C$74,969.84. Corporate insiders own 0.82% of the company's stock.

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.