Q2 2024 EPS Estimates for Aecon Group Inc. Boosted by National Bank Financial (TSE:ARE)

Aecon Group Inc. (TSE:ARE) – Analysts at National Bank Financial increased their Q2 2024 EPS estimates for Aecon Group in a research report issued to clients and investors on Thursday, April 25th. National Bank Financial analyst M. Sytchev now forecasts that the company will post earnings per share of $0.17 for the quarter, up from their prior estimate of $0.16. The consensus estimate for Aecon Group’s current full-year earnings is $0.76 per share. National Bank Financial also issued estimates for Aecon Group’s Q3 2024 earnings at $0.36 EPS.

A number of other equities research analysts have also commented on ARE. Canaccord Genuity Group raised their price objective 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. Desjardins lifted their price target on shares of Aecon Group from C$16.00 to C$20.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Raymond James lifted their price objective on shares of Aecon Group from C$16.00 to C$17.00 and gave the company a “market perform” rating in a research report on Friday. TD Securities lifted their price objective on shares of Aecon Group from C$14.00 to C$18.50 and gave the company a “hold” rating in a research report on Friday, March 8th. Finally, BMO Capital Markets lifted their target price on shares of Aecon Group from C$17.50 to C$18.50 in a report on Friday. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$19.17.

Aecon Group Trading Down 0.4 %

ARE opened at C$17.05 on Monday. Aecon Group has a twelve month low of C$8.42 and a twelve month 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 fifty day moving average is C$16.15 and its two-hundred day moving average is C$13.61. The firm has a market cap of C$1.06 billion, a PE ratio of 8.12, a price-to-earnings-growth ratio of 18.18 and a beta of 1.16.

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

Insider Activity

In other news, Senior Officer Adam Robert Borgatti bought 4,231 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was bought at an average cost of C$13.07 per share, for a total transaction of C$55,299.17. In other news, Senior Officer Adam Robert Borgatti bought 4,231 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was bought at an average cost of C$13.07 per share, for a total transaction of C$55,299.17. Also, Senior Officer Martina Doyle sold 2,265 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of C$16.42, for a total transaction of C$37,191.30. Corporate insiders own 1.72% of the company’s stock.

Aecon Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Friday, March 22nd were given a $0.19 dividend. The ex-dividend date was Thursday, March 21st. This is a boost from Aecon Group’s previous quarterly dividend of $0.19. This represents a $0.76 annualized dividend and a dividend yield of 4.46%. Aecon Group’s payout ratio is presently 36.19%.

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.