Desjardins Brokers Lower Earnings Estimates for Aecon Group Inc. (TSE:ARE)

Aecon Group Inc. (TSE:ARE) – Research analysts at Desjardins reduced their Q2 2024 earnings per share estimates for shares of Aecon Group in a report released on Thursday, April 25th. Desjardins analyst B. Poirier now anticipates that the company will post earnings per share of $0.02 for the quarter, down from their prior forecast of $0.03. Desjardins currently has a “Buy” rating and a $20.00 target price on the stock. The consensus estimate for Aecon Group’s current full-year earnings is $0.76 per share. Desjardins also issued estimates for Aecon Group’s Q3 2024 earnings at $0.50 EPS, Q4 2024 earnings at $0.31 EPS, FY2024 earnings at $0.75 EPS and FY2025 earnings at $1.09 EPS.

A number of other equities research analysts have also recently commented on ARE. Canaccord Genuity Group raised their price target on Aecon Group from C$14.00 to C$26.00 and gave the company a “buy” rating in a report on Thursday, March 7th. National Bankshares raised their price target on Aecon Group from C$15.00 to C$18.00 and gave the company a “sector perform” rating in a report on Friday, April 26th. CIBC raised their price target on Aecon Group from C$22.00 to C$23.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Stifel Nicolaus lifted their target price on Aecon Group from C$17.00 to C$18.25 in a report on Friday, April 26th. Finally, TD Securities lifted their price target on Aecon Group from C$14.00 to C$18.50 and gave the stock a “hold” rating in a research report on Friday, March 8th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$19.17.

Aecon Group Price Performance

Shares of Aecon Group stock opened at C$16.91 on Monday. Aecon Group has a one year low of C$8.42 and a one year high of C$17.40. The stock’s fifty day moving average is C$16.27 and its 200 day moving average is C$13.70. The stock has a market cap of C$1.05 billion, a P/E ratio of 8.05, a P/E/G ratio of 18.18 and a beta of 1.16. 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 (TSE:ARE) last released its quarterly earnings results on Wednesday, April 24th. The company reported C($0.10) earnings per share (EPS) for the quarter, topping 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 firm had revenue of C$846.59 million for the quarter, compared to the consensus estimate of C$1.03 billion.

Aecon Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Friday, March 22nd were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 4.49%. The ex-dividend date of this dividend was Thursday, March 21st. This is a positive change from Aecon Group’s previous quarterly dividend of $0.19. Aecon Group’s payout ratio is 36.19%.

Insiders Place Their Bets

In other news, Senior Officer Martina Doyle sold 2,265 shares of the stock in a transaction on 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 other news, Senior Officer Adam Robert Borgatti bought 4,231 shares of the stock in a transaction on Tuesday, March 26th. The stock was bought at an average cost of C$13.07 per share, for a total transaction of C$55,299.17. Also, Senior Officer Martina Doyle sold 2,265 shares of Aecon Group stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of C$16.42, for a total transaction of C$37,191.30. Company insiders own 1.72% 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.