Brokers Set Expectations for Aecon Group FY2024 Earnings

Aecon Group Inc. (TSE:ARE - Free Report) - Analysts at National Bank Financial raised their FY2024 EPS estimates for shares of Aecon Group in a research note issued to investors on Monday, October 21st. National Bank Financial analyst M. Sytchev now expects that the company will earn ($0.98) per share for the year, up from their previous forecast of ($1.23). National Bank Financial has a "Strong-Buy" rating on the stock. The consensus estimate for Aecon Group's current full-year earnings is $1.38 per share. National Bank Financial also issued estimates for Aecon Group's FY2025 earnings at $1.37 EPS.

Aecon Group (TSE:ARE - Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The company reported C($1.99) earnings per share (EPS) for the quarter, beating the consensus estimate of C($2.53) by C$0.54. The firm had revenue of C$853.80 million during the quarter, compared to the consensus estimate of C$1.01 billion. Aecon Group had a net margin of 0.32% and a return on equity of 1.40%.

Several other equities analysts also recently issued reports on ARE. CIBC raised their price target on shares of Aecon Group from C$22.00 to C$25.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Stifel Nicolaus increased their price objective on shares of Aecon Group from C$30.00 to C$31.00 in a research report on Friday, October 4th. National Bankshares upgraded shares of Aecon Group from a "sector perform" rating to an "outperform" rating and increased their price objective for the stock from C$17.00 to C$20.50 in a research report on Monday, July 29th. ATB Capital increased their price objective on shares of Aecon Group from C$21.00 to C$29.00 and gave the stock an "outperform" rating in a research report on Monday, September 16th. Finally, Stifel Canada upgraded shares of Aecon Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Aecon Group has a consensus rating of "Moderate Buy" and an average price target of C$21.44.

Aecon Group Trading Up 1.2 %

Shares of ARE stock traded up C$0.26 during trading hours on Thursday, hitting C$22.54. 141,657 shares of the company's stock traded hands, compared to its average volume of 290,327. The stock's 50 day simple moving average is C$19.90 and its 200 day simple moving average is C$17.59. The stock has a market cap of C$1.41 billion, a PE ratio of -82.52, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13. Aecon Group has a 12 month low of C$8.42 and a 12 month high of C$23.20. The company has a quick ratio of 1.27, a current ratio of 1.35 and a debt-to-equity ratio of 32.86.

Aecon Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, October 2nd were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date was Friday, September 20th. Aecon Group's payout ratio is -281.48%.

Insiders Place Their Bets

In other Aecon Group news, Senior Officer Timothy John Murphy acquired 4,244 shares of Aecon Group stock in a transaction dated Thursday, August 8th. The stock was purchased at an average cost of C$17.66 per share, for a total transaction of C$74,969.84. In other Aecon Group news, Senior Officer Timothy John Murphy acquired 4,244 shares of Aecon Group stock in a transaction dated Thursday, August 8th. The stock was purchased at an average cost of C$17.66 per share, for a total transaction of C$74,969.84. Also, Director Scott Stewart purchased 10,000 shares of the company's stock in a transaction that occurred on Monday, July 29th. The shares were purchased at an average cost of C$16.54 per share, for a total transaction of C$165,380.00. Over the last ninety days, insiders purchased 16,549 shares of company stock worth $274,762. 0.82% of the stock is currently owned by company 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.