Aecon Group Inc. (TSE:ARE) Forecasted to Earn Q2 2024 Earnings of $0.17 Per Share

Aecon Group Inc. (TSE:ARE) – Research analysts at National Bank Financial boosted their Q2 2024 earnings estimates for Aecon Group in a research report issued to clients and investors on Thursday, April 25th. National Bank Financial analyst M. Sytchev now anticipates that the company will post earnings per share of $0.17 for the quarter, up from their prior forecast 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.

Other research analysts also recently issued research reports about the company. ATB Capital increased their price target on Aecon Group from C$19.50 to C$21.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Stifel Nicolaus lifted their target price on shares of Aecon Group from C$17.00 to C$18.25 in a research note on Friday, April 26th. BMO Capital Markets upped their price target on shares of Aecon Group from C$17.50 to C$18.50 in a research note on Friday, April 26th. National Bankshares lifted their price objective on shares of Aecon Group from C$15.00 to C$18.00 and gave the company a “sector perform” rating in a research note on Friday, April 26th. Finally, Canaccord Genuity Group boosted their target price on shares of Aecon Group from C$14.00 to C$26.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$19.17.

Aecon Group Stock Performance

Shares of ARE stock opened at C$16.91 on Monday. Aecon Group has a 52 week low of C$8.42 and a 52 week high of C$17.40. The firm’s 50-day simple moving average is C$16.27 and its two-hundred day simple moving average is C$13.70. The firm has a market cap of C$1.05 billion, a price-to-earnings ratio of 8.05, a P/E/G ratio of 18.18 and a beta of 1.16. The company has a debt-to-equity ratio of 39.29, a quick ratio of 1.27 and a current ratio of 1.42.

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

Insider Activity

In related news, Senior Officer Adam Robert Borgatti bought 4,231 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was acquired at an average cost of C$13.07 per share, for a total transaction of C$55,299.17. In related news, Director Stuart Lee purchased 7,000 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was acquired at an average price of C$16.33 per share, with a total value of C$114,310.00. Also, Senior Officer Adam Robert Borgatti purchased 4,231 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was bought at an average cost of C$13.07 per share, with a total value of C$55,299.17. Corporate insiders own 1.72% of the company’s stock.

Aecon Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Friday, March 22nd were issued a $0.19 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $0.76 annualized dividend and a dividend yield of 4.49%. This is a boost from Aecon Group’s previous quarterly dividend of $0.19. Aecon Group’s dividend payout ratio (DPR) is presently 36.19%.

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.