Aecon Group Inc. (TSE:ARE) to Post Q3 2024 Earnings of $0.58 Per Share, Atb Cap Markets Forecasts

Aecon Group Inc. (TSE:ARE) – Equities research analysts at Atb Cap Markets dropped their Q3 2024 earnings per share (EPS) estimates for shares of Aecon Group in a research note issued on Thursday, April 25th. Atb Cap Markets analyst C. Murray now expects that the company will post earnings of $0.58 per share for the quarter, down from their prior estimate of $0.60. The consensus estimate for Aecon Group’s current full-year earnings is $0.76 per share. Atb Cap Markets also issued estimates for Aecon Group’s Q4 2024 earnings at $0.32 EPS and Q3 2025 earnings at $0.98 EPS.

A number of other analysts have also issued reports on the company. TD Securities boosted their price objective on Aecon Group from C$14.00 to C$18.50 and gave the company a “hold” rating in a research note on Friday, March 8th. Paradigm Capital upped their target price on Aecon Group from C$14.00 to C$17.80 and gave the stock a “hold” rating in a research note on Friday, April 26th. Canaccord Genuity Group upped their target price on Aecon Group from C$14.00 to C$26.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. ATB Capital upped their target price on Aecon Group from C$19.50 to C$21.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Finally, Royal Bank of Canada upped their target price on Aecon Group from C$13.00 to C$16.00 and gave the stock a “sector perform” rating in a research note on Friday, April 26th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Aecon Group has an average rating of “Moderate Buy” and an average price target of C$19.17.

Aecon Group Stock Performance

TSE:ARE opened at C$16.91 on Monday. The company has a debt-to-equity ratio of 39.29, a quick ratio of 1.27 and a current ratio of 1.42. Aecon Group has a 52-week low of C$8.42 and a 52-week high of C$17.40. The firm has a market cap of C$1.05 billion, a price-to-earnings ratio of 8.05, a PEG ratio of 18.18 and a beta of 1.16. The business’s fifty day moving average is C$16.27 and its 200 day moving average is C$13.70.

Aecon Group (TSE:ARE) last released its quarterly earnings data on Wednesday, April 24th. The company reported C($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C($0.14) by C$0.04. Aecon Group had a return on equity of 16.04% and a net margin of 3.49%. The company had revenue of C$846.59 million for the quarter, compared to analyst estimates of C$1.03 billion.

Insider Transactions at Aecon Group

In related news, Senior Officer Martina Doyle sold 2,265 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of C$16.42, for a total transaction of C$37,191.30. In related news, Director Stuart Lee bought 7,000 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was bought at an average cost of C$16.33 per share, for a total transaction of C$114,310.00. Also, Senior Officer Martina Doyle sold 2,265 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of C$16.42, for a total value of C$37,191.30. Company insiders own 1.72% of the company’s stock.

Aecon Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Friday, March 22nd were issued a $0.19 dividend. This is a boost from Aecon Group’s previous quarterly dividend of $0.19. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date was Thursday, March 21st. Aecon Group’s dividend payout ratio is presently 36.19%.

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.