Q3 2024 EPS Estimates for Aecon Group Inc. (TSE:ARE) Lifted by National Bank Financial

Aecon Group Inc. (TSE:ARE) – National Bank Financial upped their Q3 2024 earnings per share (EPS) estimates for Aecon Group in a research report issued on Thursday, July 25th. National Bank Financial analyst M. Sytchev now expects that the company will earn $0.40 per share for the quarter, up from their previous forecast of $0.36. National Bank Financial currently has a “Strong-Buy” rating on the stock. The consensus estimate for Aecon Group’s current full-year earnings is $0.91 per share. National Bank Financial also issued estimates for Aecon Group’s Q4 2024 earnings at $0.33 EPS.

Several other brokerages also recently commented on ARE. Desjardins reduced their target price on Aecon Group from C$20.00 to C$18.00 and set a “buy” rating for the company in a report on Tuesday, July 2nd. National Bankshares raised Aecon Group from a “sector perform” rating to an “outperform” rating and upped their price target for the company from C$17.00 to C$20.50 in a research report on Monday. CIBC dropped their price target on Aecon Group from C$23.00 to C$22.00 in a research report on Thursday, July 11th. Canaccord Genuity Group dropped their price target on Aecon Group from C$26.00 to C$25.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Finally, Royal Bank of Canada upped their price target on Aecon Group from C$13.00 to C$17.00 and gave the company a “sector perform” rating in a research report on Monday. Five 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$19.62.

Aecon Group Trading Up 3.3 %

Shares of TSE ARE opened at C$16.73 on Monday. Aecon Group has a 12 month low of C$8.42 and a 12 month high of C$17.40. The company has a market cap of C$1.04 billion, a price-to-earnings ratio of 7.78, a P/E/G ratio of 18.18 and a beta of 1.19. The company has a quick ratio of 1.27, a current ratio of 1.50 and a debt-to-equity ratio of 28.71. The business has a fifty day simple moving average of C$15.84 and a 200-day simple moving average of C$15.77.

Aecon Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Friday, September 20th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 4.54%. The ex-dividend date is Friday, September 20th. Aecon Group’s payout ratio is currently 35.35%.

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.