FY2023 EPS Estimates for Aecon Group Inc. (TSE:ARE) Increased by Analyst

Aecon Group Inc. (TSE:AREGet Rating) – Stock analysts at National Bank Financial boosted their FY2023 earnings estimates for shares of Aecon Group in a report released on Tuesday, January 10th. National Bank Financial analyst M. Sytchev now forecasts that the company will post earnings of $0.59 per share for the year, up from their previous forecast of $0.52. The consensus estimate for Aecon Group’s current full-year earnings is $0.75 per share. National Bank Financial also issued estimates for Aecon Group’s FY2024 earnings at $0.70 EPS.

Aecon Group (TSE:AREGet Rating) last released its quarterly earnings data on Wednesday, October 26th. The company reported C$0.45 earnings per share for the quarter, topping the consensus estimate of C$0.42 by C$0.03. The firm had revenue of C$1.32 billion for the quarter, compared to analyst estimates of C$1.23 billion.

A number of other brokerages have also commented on ARE. TD Securities decreased their price target on shares of Aecon Group from C$12.50 to C$12.00 and set a “hold” rating on the stock in a research note on Friday, October 28th. Royal Bank of Canada decreased their price target on shares of Aecon Group from C$13.00 to C$12.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 27th. CIBC decreased their price target on shares of Aecon Group from C$14.00 to C$11.50 in a research note on Thursday, October 13th. Finally, BMO Capital Markets decreased their price target on shares of Aecon Group from C$13.00 to C$12.00 in a research note on Friday, October 28th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Aecon Group presently has a consensus rating of “Hold” and an average target price of C$14.23.

Aecon Group Stock Down 0.2 %

Aecon Group stock opened at C$10.54 on Friday. The firm has a market capitalization of C$643.07 million and a PE ratio of 30.11. The company’s 50-day moving average is C$9.52 and its 200-day moving average is C$10.55. Aecon Group has a fifty-two week low of C$8.29 and a fifty-two week high of C$18.15. The company has a debt-to-equity ratio of 105.97, a current ratio of 1.39 and a quick ratio of 1.27.

Aecon Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 4th. Stockholders of record on Wednesday, January 4th were issued a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 7.02%. The ex-dividend date of this dividend was Thursday, December 22nd. Aecon Group’s dividend payout ratio (DPR) is presently 208.57%.

Aecon Group Company Profile

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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 primarily on the civil infrastructure, urban transportation systems, nuclear power infrastructure, utility infrastructure, and conventional industrial infrastructure market sectors.

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