Aecon Group FY2024 EPS Forecast Reduced by Stifel Canada

Aecon Group Inc. (TSE:ARE) – Stock analysts at Stifel Canada lowered their FY2024 earnings estimates for shares of Aecon Group in a report issued on Sunday, November 3rd. Stifel Canada analyst I. Gillies now anticipates that the company will post earnings of ($0.77) per share for the year, down from their previous forecast 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 analysts also recently commented on the company. Stifel Nicolaus raised their target price on Aecon Group from C$30.00 to C$31.00 in a research note on Friday, October 4th. ATB Capital increased their price target on Aecon Group from C$21.00 to C$29.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Canaccord Genuity Group boosted their price objective on Aecon Group from C$28.00 to C$33.00 in a report on Monday. CIBC increased their target price on Aecon Group from C$25.00 to C$29.00 in a report on Monday. Finally, National Bank Financial raised shares of Aecon Group from a “hold” rating to a “strong-buy” rating in a research report on Sunday, July 28th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$25.94.

Aecon Group Trading Up 0.9 %

TSE:ARE opened at C$28.85 on Wednesday. Aecon Group has a 12 month low of C$10.30 and a 12 month high of C$29.16. The company has a current ratio of 1.35, a quick ratio of 1.27 and a debt-to-equity ratio of 32.86. The stock has a market capitalization of C$1.80 billion, a price-to-earnings ratio of -106.85, a PEG ratio of 18.18 and a beta of 1.13. The firm has a fifty day simple moving average of C$21.26 and a two-hundred day simple moving average of C$18.11.

Aecon Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, October 2nd were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.76 annualized dividend and a dividend yield of 2.63%. Aecon Group’s dividend payout ratio 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.