“We reiterate a HOLD rating and lower our EBITDA and EPS estimates to reflect the mid- point of guidance. While the quarter was solid in terms of organic growth and overall backlog, growth for MS backlog, despite being up ~50%, is well below the 2x target referenced by management entering this year. On a positive note, the share buyback appears to be incremental to target model assumptions, which we expect management to revisit during its December 12 analyst day.”,” the firm’s analyst wrote.
Several other research firms have also issued reports on ACM. KeyCorp reiterated a buy rating and issued a $40.00 target price on shares of AECOM in a research note on Friday, August 25th. Zacks Investment Research downgraded shares of AECOM from a hold rating to a strong sell rating in a report on Friday, August 11th. Citigroup Inc. reissued a buy rating and issued a $4.00 price target (down from $40.00) on shares of AECOM in a report on Friday, October 27th. Credit Suisse Group downgraded shares of AECOM from an outperform rating to a neutral rating and cut their price target for the stock from $44.00 to $37.00 in a report on Monday, July 24th. Finally, Robert W. Baird reissued a hold rating and issued a $36.00 price target on shares of AECOM in a report on Tuesday, September 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $31.70.
Shares of AECOM (NYSE:ACM) opened at $34.72 on Tuesday. The company has a market cap of $5,400.00, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 1.83 and a beta of 1.71. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.22 and a current ratio of 1.22. AECOM has a one year low of $30.15 and a one year high of $40.72.
AECOM (NYSE:ACM) last announced its quarterly earnings results on Monday, November 13th. The construction company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.03. The business had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.63 billion. AECOM had a net margin of 1.86% and a return on equity of 12.51%. AECOM’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.65 EPS. equities research analysts forecast that AECOM will post 2.68 earnings per share for the current fiscal year.
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AECOM declared that its board has authorized a stock buyback program on Thursday, September 21st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 18.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
In other AECOM news, CEO Michael S. Burke sold 30,000 shares of the stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $37.00, for a total transaction of $1,110,000.00. Following the transaction, the chief executive officer now directly owns 154,362 shares in the company, valued at $5,711,394. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael S. Burke sold 56,800 shares of the stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $36.86, for a total transaction of $2,093,648.00. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. South Dakota Investment Council grew its position in AECOM by 16.5% during the second quarter. South Dakota Investment Council now owns 246,100 shares of the construction company’s stock valued at $7,956,000 after acquiring an additional 34,900 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of AECOM by 15.1% in the second quarter. BNP Paribas Arbitrage SA now owns 92,861 shares of the construction company’s stock worth $3,002,000 after purchasing an additional 12,167 shares during the last quarter. Commonwealth Bank of Australia grew its holdings in shares of AECOM by 210.0% in the second quarter. Commonwealth Bank of Australia now owns 12,400 shares of the construction company’s stock worth $400,000 after purchasing an additional 8,400 shares during the last quarter. J.P. Marvel Investment Advisors LLC grew its holdings in shares of AECOM by 18.3% in the second quarter. J.P. Marvel Investment Advisors LLC now owns 25,820 shares of the construction company’s stock worth $835,000 after purchasing an additional 4,000 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of AECOM by 53.7% in the second quarter. JPMorgan Chase & Co. now owns 401,338 shares of the construction company’s stock worth $12,975,000 after purchasing an additional 140,274 shares during the last quarter. Institutional investors and hedge funds own 82.07% of the company’s stock.
AECOM is engaged in designing, building, financing and operating infrastructure assets for governments, businesses and organizations. The Company’s segments include design and consulting services (DCS), construction services (CS) and management services (MS). Its DCS segment is engaged in planning, consulting, architectural and engineering design services to commercial and government clients in major end markets, such as transportation, facilities, environmental, energy, water and government.
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