Analysts Offer Predictions for Aecon Group FY2024 Earnings

Aecon Group Inc. (TSE:ARE) – Analysts at National Bank Financial increased their FY2024 earnings estimates for Aecon Group in a report issued on Tuesday, December 3rd. National Bank Financial analyst M. Sytchev now expects that the company will post earnings of ($0.74) per share for the year, up from their previous forecast of ($0.77). National Bank Financial has a “Hold” rating on the stock. The consensus estimate for Aecon Group’s current full-year earnings is $1.38 per share. National Bank Financial also issued estimates for Aecon Group’s Q4 2024 earnings at $0.27 EPS, Q1 2025 earnings at $0.14 EPS, Q2 2025 earnings at $0.41 EPS, Q4 2025 earnings at $0.39 EPS and FY2026 earnings at $1.73 EPS.

Several other research firms also recently weighed in on ARE. National Bankshares downgraded shares of Aecon Group from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from C$28.00 to C$30.00 in a research note on Wednesday. TD Securities raised Aecon Group from a “hold” rating to a “buy” rating and boosted their target price for the company from C$23.00 to C$35.00 in a research report on Monday, November 4th. Raymond James increased their price target on Aecon Group from C$24.00 to C$28.00 in a report on Tuesday, November 5th. BMO Capital Markets boosted their price objective on Aecon Group from C$27.00 to C$29.00 in a report on Friday. Finally, Canaccord Genuity Group increased their target price on Aecon Group from C$28.00 to C$33.00 in a report on Monday, November 4th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$26.98.

Aecon Group Stock Performance

ARE stock opened at C$28.04 on Friday. The firm has a market cap of C$1.75 billion, a PE ratio of -103.85, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13. 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 50-day moving average price of C$25.48 and a 200-day moving average price of C$19.89. Aecon Group has a 1-year low of C$11.50 and a 1-year high of C$29.70.

Aecon Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, October 2nd were paid a $0.19 dividend. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.76 annualized dividend and a dividend yield of 2.71%. Aecon Group’s payout ratio is presently -281.48%.

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.