Analysts Issue Forecasts for Aecon Group FY2024 Earnings

Aecon Group Inc. (TSE:ARE) – Stifel Canada lowered their FY2024 EPS estimates for Aecon Group in a research note issued on Sunday, November 3rd. Stifel Canada analyst I. Gillies now forecasts that the company will post earnings per share of ($0.77) for the year, down from their previous estimate of ($0.46). Stifel Canada currently has a “Strong-Buy” rating on the stock. The consensus estimate for Aecon Group’s current full-year earnings is $1.38 per share. Stifel Canada also issued estimates for Aecon Group’s Q4 2024 earnings at $0.36 EPS, Q1 2025 earnings at ($0.02) EPS, Q2 2025 earnings at $0.14 EPS, Q3 2025 earnings at $0.53 EPS, Q4 2025 earnings at $0.47 EPS, Q1 2026 earnings at $0.30 EPS and Q2 2026 earnings at $0.43 EPS.

Several other research analysts have also issued reports on ARE. CIBC increased their price target on shares of Aecon Group from C$25.00 to C$29.00 in a research report on Monday. Raymond James increased their price target on shares of Aecon Group from C$24.00 to C$28.00 in a research report on Tuesday. ATB Capital increased 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. Royal Bank of Canada increased their price target on shares of Aecon Group from C$13.00 to C$17.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Finally, Stifel Nicolaus increased their price target on shares of Aecon Group from C$30.00 to C$31.00 in a research report on Friday, October 4th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and two have given 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 target price of C$25.94.

Aecon Group Stock Performance

TSE:ARE opened at C$28.60 on Wednesday. Aecon Group has a 12-month low of C$10.30 and a 12-month high of C$28.79. The company has a quick ratio of 1.27, a current ratio of 1.35 and a debt-to-equity ratio of 32.86. The firm has a market capitalization of C$1.79 billion, a PE ratio of -105.93, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13. The firm has a 50-day moving average price of C$21.05 and a 200 day moving average price of C$18.03.

Insider Activity

In related news, Senior Officer Timothy John Murphy purchased 4,244 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were acquired at an average cost of C$17.66 per share, with a total value of C$74,969.84. 0.82% of the stock is owned by insiders.

Aecon Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, October 2nd were paid a dividend of $0.19 per share. The ex-dividend date was Friday, September 20th. This represents a $0.76 annualized dividend and a dividend yield of 2.66%. Aecon Group’s dividend payout ratio (DPR) is currently -281.48%.

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.