DA Davidson Equities Analysts Cut Earnings Estimates for Aecom Technology Corp. (ACM)
Aecom Technology Corp. (NYSE:ACM) – Equities researchers at DA Davidson decreased their Q2 2017 earnings per share (EPS) estimates for Aecom Technology Corp. in a report released on Thursday. DA Davidson analyst J. Rogers now anticipates that the brokerage will earn $0.79 per share for the quarter, down from their previous estimate of $0.83. DA Davidson currently has a “Neutral” rating and a $38.00 target price on the stock.
Aecom Technology Corp. (NYSE:ACM) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.11. Aecom Technology Corp. had a net margin of 0.51% and a return on equity of 14.11%. The company had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.52 billion. During the same quarter in the previous year, the firm posted $0.74 earnings per share. Aecom Technology Corp.’s revenue for the quarter was down 3.1% on a year-over-year basis.
A number of other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Aecom Technology Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Citigroup Inc. reissued a “buy” rating and issued a $43.00 price target on shares of Aecom Technology Corp. in a report on Friday, September 30th. Canaccord Genuity reissued a “hold” rating and issued a $33.00 price target on shares of Aecom Technology Corp. in a report on Wednesday, September 7th. Deutsche Bank AG cut their price target on shares of Aecom Technology Corp. from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, August 22nd. Finally, Argus reissued a “hold” rating on shares of Aecom Technology Corp. in a report on Thursday, August 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $36.18.
Shares of Aecom Technology Corp. (NYSE:ACM) traded down 0.61% during mid-day trading on Monday, hitting $27.65. 1,018,902 shares of the company traded hands. The stock has a market capitalization of $4.25 billion, a PE ratio of 48.34 and a beta of 1.79. The firm’s 50 day moving average price is $29.64 and its 200-day moving average price is $31.75. Aecom Technology Corp. has a 1-year low of $22.80 and a 1-year high of $36.20.
In related news, insider Michael John Donnelly sold 5,700 shares of the business’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $36.00, for a total transaction of $205,200.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Daniel R. Tishman sold 30,000 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $35.20, for a total transaction of $1,056,000.00. Following the sale, the insider now directly owns 229,262 shares in the company, valued at approximately $8,070,022.40. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.
Large investors have recently bought and sold shares of the company. Greenhaven Associates Inc. acquired a new stake in Aecom Technology Corp. during the second quarter valued at approximately $47,938,000. Primecap Management Co. CA raised its stake in Aecom Technology Corp. by 17.1% in the first quarter. Primecap Management Co. CA now owns 7,470,676 shares of the company’s stock valued at $230,022,000 after buying an additional 1,092,631 shares during the last quarter. Norges Bank acquired a new stake in Aecom Technology Corp. during the fourth quarter valued at approximately $32,424,000. Emerald Acquisition Ltd. acquired a new stake in Aecom Technology Corp. during the second quarter valued at approximately $25,042,000. Finally, JPMorgan Chase & Co. raised its stake in Aecom Technology Corp. by 10.8% in the first quarter. JPMorgan Chase & Co. now owns 3,648,310 shares of the company’s stock valued at $112,332,000 after buying an additional 354,408 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.
About Aecom Technology Corp.
AECOM, formerly AECOM Technology Corporation, designs, builds, finances and operates infrastructure assets for governments, businesses and organizations around the world. The Company provides program and facilities management and maintenance, training, logistics, consulting, technical assistance, and systems integration and information technology (IT) services.
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