Equities Analysts Offer Predictions for Aecon Group Inc.’s Q1 2023 Earnings (TSE:ARE)

Aecon Group Inc. (TSE:ARE – Get Rating) – Analysts at Raymond James boosted their Q1 2023 EPS estimates for Aecon Group in a report released on Thursday, March 2nd. Raymond James analyst F. Bastien now expects that the company will post earnings of ($0.27) per share for the quarter, up from their previous estimate of ($0.28). The consensus estimate for Aecon Group’s current full-year earnings is $0.67 per share.

Several other equities research analysts have also issued reports on ARE. Royal Bank of Canada lifted their price objective on shares of Aecon Group from C$11.00 to C$12.00 and gave the company a “sector perform” rating in a research note on Thursday. TD Securities lifted their target price on shares of Aecon Group from C$10.00 to C$12.50 and gave the company a “hold” rating in a research report on Thursday. ATB Capital upgraded shares of Aecon Group from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from C$14.00 to C$16.00 in a research report on Thursday. Atb Cap Markets upgraded shares of Aecon Group from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, March 1st. Finally, Desjardins raised shares of Aecon Group from a “hold” rating to a “buy” rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of C$12.80.

Aecon Group Trading Up 7.6 %

Shares of TSE:ARE opened at C$12.23 on Monday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 95.29. Aecon Group has a 12-month low of C$8.29 and a 12-month high of C$17.25. The firm has a fifty day moving average of C$10.41 and a two-hundred day moving average of C$10.20. The firm has a market capitalization of C$752.63 million, a P/E ratio of 23.52, a price-to-earnings-growth ratio of 18.18 and a beta of 1.01.

Aecon Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 4th. Stockholders of record on Friday, March 24th will be given a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 6.05%. The ex-dividend date of this dividend is Thursday, March 23rd. Aecon Group’s dividend payout ratio is presently 142.31%.

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.