Aecon Group FY2024 EPS Increased by National Bank Financial

Aecon Group Inc. (TSE:ARE) – National Bank Financial lifted their FY2024 earnings estimates for Aecon Group in a research note issued to investors on Monday, October 21st. National Bank Financial analyst M. Sytchev now anticipates that the company will post earnings of ($0.98) per share for the year, up from their prior estimate 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) last posted its quarterly earnings data on Wednesday, July 24th. The company reported C($1.99) earnings per share for the quarter, beating analysts’ consensus estimates of C($2.53) by C$0.54. The business had revenue of C$853.80 million during the quarter, compared to analyst estimates of C$1.01 billion. Aecon Group had a net margin of 0.32% and a return on equity of 1.40%.

A number of other equities analysts have also weighed in on ARE. Royal Bank of Canada boosted their price objective on shares of Aecon Group from C$13.00 to C$17.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. CIBC boosted their price objective on shares of Aecon Group from C$22.00 to C$25.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. ATB Capital upped their price target 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. Canaccord Genuity Group upped their price target on shares of Aecon Group from C$25.00 to C$28.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Finally, Stifel Canada raised shares of Aecon Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$21.44.

Aecon Group Stock Performance

TSE:ARE opened at C$22.28 on Thursday. The firm has a 50 day simple moving average of C$19.90 and a 200-day simple moving average of C$17.59. The company has a debt-to-equity ratio of 32.86, a current ratio of 1.35 and a quick ratio of 1.27. The firm has a market cap of C$1.39 billion, a PE ratio of -82.52, a P/E/G ratio of 18.18 and a beta of 1.13. Aecon Group has a 1-year low of C$8.42 and a 1-year high of C$23.20.

Aecon Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, October 2nd were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend was Friday, September 20th. Aecon Group’s payout ratio is currently -281.48%.

Insider Transactions at Aecon Group

In other Aecon Group news, Director Scott Stewart acquired 10,000 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was bought at an average price of C$16.54 per share, with a total value of C$165,380.00. In other news, Senior Officer Timothy John Murphy bought 4,244 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was acquired at an average cost of C$17.66 per share, for a total transaction of C$74,969.84. Also, Director Scott Stewart bought 10,000 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was purchased at an average price of C$16.54 per share, with a total value of C$165,380.00. Insiders acquired 16,549 shares of company stock valued at $274,762 over the last 90 days. 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.