Desjardins Comments on Aecon Group Inc.’s Q3 2024 Earnings (TSE:ARE)

Aecon Group Inc. (TSE:ARE) – Equities researchers at Desjardins lifted their Q3 2024 EPS estimates for Aecon Group in a note issued to investors on Thursday, October 3rd. Desjardins analyst B. Poirier now forecasts that the company will post earnings per share of $0.85 for the quarter, up from their previous estimate of $0.79. Desjardins has a “Buy” rating and a $18.00 price target on the stock. The consensus estimate for Aecon Group’s current full-year earnings is $1.38 per share. Desjardins also issued estimates for Aecon Group’s Q4 2024 earnings at $0.64 EPS and FY2026 earnings at $2.46 EPS.

A number of other equities research analysts have also recently issued reports on the company. National Bankshares raised Aecon Group from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from C$17.00 to C$20.50 in a research report on Monday, July 29th. ATB Capital upped their price objective on shares of 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 lifted their target price on shares of Aecon Group from C$25.00 to C$28.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Royal Bank of Canada upped their price target on shares of Aecon Group from C$13.00 to C$17.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Finally, Stifel Nicolaus lifted their price objective on Aecon Group from C$30.00 to C$31.00 in a research note on Friday. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$21.16.

Aecon Group Stock Performance

ARE opened at C$21.89 on Friday. The company has a debt-to-equity ratio of 32.86, a quick ratio of 1.27 and a current ratio of 1.35. The company has a market cap of C$1.37 billion, a PE ratio of -81.07, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13. The stock has a 50-day moving average of C$18.38 and a 200-day moving average of C$17.11. Aecon Group has a 52-week low of C$8.42 and a 52-week high of C$22.06.

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

Aecon Group Announces Dividend

The company 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. The ex-dividend date was Friday, September 20th. This represents a $0.76 annualized dividend and a yield of 3.47%. Aecon Group’s dividend payout ratio (DPR) is -281.48%.

Insiders Place Their Bets

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

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.