Stifel Canada Comments on Aecon Group Inc.’s FY2024 Earnings (TSE:ARE)

Aecon Group Inc. (TSE:ARE) – Equities researchers at Stifel Canada dropped their FY2024 EPS estimates for shares of Aecon Group in a note issued to investors on Thursday, October 3rd. Stifel Canada analyst I. Gillies now forecasts that the company will earn ($0.46) per share for the year, down from their prior forecast of ($0.44). 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 FY2025 earnings at $1.17 EPS.

A number of other research analysts have also recently commented on the company. Royal Bank of Canada boosted their price target on Aecon Group from C$13.00 to C$17.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Canaccord Genuity Group increased their price objective on Aecon Group from C$25.00 to C$28.00 and gave the company a “buy” rating in a report on Monday, September 23rd. CIBC reduced their price target on shares of Aecon Group from C$23.00 to C$22.00 in a research report on Thursday, July 11th. National Bank Financial upgraded shares of Aecon Group from a “hold” rating to a “strong-buy” rating in a research report on Sunday, July 28th. Finally, Desjardins reduced their price target on Aecon Group from C$20.00 to C$18.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Aecon Group currently has a consensus rating of “Moderate Buy” and a consensus target price of C$21.16.

Aecon Group Stock Performance

ARE opened at C$21.83 on Monday. The firm has a market cap of C$1.36 billion, a P/E ratio of -80.85, a PEG ratio of 18.18 and a beta of 1.13. Aecon Group has a 1-year low of C$8.42 and a 1-year high of C$22.06. The company has a 50 day simple moving average of C$18.68 and a two-hundred day simple moving average of C$17.18. The company has a debt-to-equity ratio of 32.86, a current ratio of 1.35 and a quick ratio of 1.27.

Aecon Group (TSE:ARE) last posted its earnings results on Wednesday, July 24th. The company reported C($1.99) earnings per share for the quarter, beating analysts’ consensus estimates of C($2.53) by C$0.54. The company had revenue of C$853.80 million for the quarter, compared to the consensus estimate of C$1.01 billion. Aecon Group had a return on equity of 1.40% and a net margin of 0.32%.

Aecon Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, October 2nd were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.48%. The ex-dividend date was Friday, September 20th. Aecon Group’s dividend payout ratio (DPR) is presently -281.48%.

Insider Activity

In related news, Senior Officer Timothy John Murphy purchased 4,244 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average cost of C$17.66 per share, with a total value of C$74,969.84. In other news, Senior Officer Timothy John Murphy acquired 4,244 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was acquired at an average price of C$17.66 per share, with a total value of C$74,969.84. Also, Director Scott Stewart bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were purchased at an average price of C$16.54 per share, for a total transaction of C$165,380.00. Insiders have acquired 16,549 shares of company stock worth $274,762 over the last ninety days. 0.82% of the stock is currently owned by insiders.

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.