Desjardins Research Analysts Decrease Earnings Estimates for Aecon Group Inc. (TSE:ARE)

Aecon Group Inc. (TSE:ARE) – Research analysts at Desjardins decreased their Q2 2024 EPS estimates for shares of Aecon Group in a research note issued on Thursday, April 25th. Desjardins analyst B. Poirier now anticipates that the company will earn $0.02 per share for the quarter, down from their previous estimate 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.

Aecon Group (TSE:ARE) last issued its quarterly earnings data on Wednesday, April 24th. The company reported C($0.10) EPS for the quarter, topping the consensus estimate of C($0.14) by C$0.04. Aecon Group had a net margin of 3.49% and a return on equity of 16.04%. The firm had revenue of C$846.59 million for the quarter, compared to analyst estimates of C$1.03 billion.

A number of other equities research analysts have also issued reports on the stock. Royal Bank of Canada increased their target price on shares of Aecon Group from C$13.00 to C$16.00 and gave the stock a “sector perform” rating in a report on Friday. ATB Capital increased their target price on shares of Aecon Group from C$19.50 to C$21.00 and gave the stock an “outperform” rating in a report on Friday. National Bankshares increased their target price on shares of Aecon Group from C$15.00 to C$18.00 and gave the stock a “sector perform” rating in a report on Friday. Stifel Nicolaus increased their target price on shares of Aecon Group from C$17.00 to C$18.25 in a report on Friday. Finally, Canaccord Genuity Group increased their target price on shares of Aecon Group from C$14.00 to C$26.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$19.17.

Aecon Group Stock Performance

Shares of ARE stock opened at C$17.05 on Monday. The firm has a market cap of C$1.06 billion, a P/E ratio of 8.12, a P/E/G ratio of 18.18 and a beta of 1.16. Aecon Group has a one year low of C$8.42 and a one year high of C$17.40. The company has a debt-to-equity ratio of 39.29, a quick ratio of 1.27 and a current ratio of 1.42. The firm’s 50 day moving average price is C$16.15 and its 200-day moving average price is C$13.61.

Aecon Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Friday, March 22nd were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.46%. This is an increase from Aecon Group’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Thursday, March 21st. Aecon Group’s dividend payout ratio (DPR) is 36.19%.

Insider Activity at Aecon Group

In related news, Senior Officer Martina Doyle sold 2,265 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of C$16.42, for a total value of C$37,191.30. In related news, Senior Officer Adam Robert Borgatti bought 4,231 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were purchased at an average cost of C$13.07 per share, with a total value of C$55,299.17. Also, Senior Officer Martina Doyle sold 2,265 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of C$16.42, for a total transaction of C$37,191.30. 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.