Aecon Group Inc. (TSE:ARE – Get Rating) – Desjardins reduced their FY2022 earnings per share (EPS) estimates for Aecon Group in a report released on Monday, August 1st. Desjardins analyst B. Poirier now anticipates that the company will post earnings of $0.42 per share for the year, down from their previous forecast of $1.07. Desjardins currently has a "Hold" rating on the stock. The consensus estimate for Aecon Group's current full-year earnings is $0.83 per share. Desjardins also issued estimates for Aecon Group's Q4 2022 earnings at $0.26 EPS and FY2023 earnings at $0.88 EPS.
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A number of other equities analysts also recently commented on ARE. CIBC reduced their target price on shares of Aecon Group from C$16.00 to C$14.00 in a report on Tuesday. Stifel Nicolaus reduced their target price on shares of Aecon Group from C$14.00 to C$11.00 in a report on Tuesday. TD Securities downgraded shares of Aecon Group from a "buy" rating to a "hold" rating and reduced their target price for the stock from C$19.50 to C$12.50 in a report on Tuesday. ATB Capital reduced their target price on shares of Aecon Group from C$18.25 to C$14.00 in a report on Tuesday. Finally, Royal Bank of Canada reduced their target price on shares of Aecon Group from C$16.00 to C$13.00 and set a "sector perform" rating for the company in a report on Tuesday. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of C$15.41.
Aecon Group Stock Performance
ARE stock opened at C$10.96 on Thursday. The company has a debt-to-equity ratio of 110.06, a current ratio of 1.38 and a quick ratio of 1.26. The business has a 50-day moving average price of C$13.17 and a 200 day moving average price of C$15.15. The company has a market capitalization of C$668.07 million and a P/E ratio of 27.40. Aecon Group has a 1-year low of C$10.57 and a 1-year high of C$22.28.
Aecon Group (TSE:ARE – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The company reported C($0.10) earnings per share for the quarter, missing the consensus estimate of C$0.22 by C($0.32). The company had revenue of C$1.12 billion during the quarter, compared to analysts' expectations of C$997.47 million.
Aecon Group Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 5th. Stockholders of record on Tuesday, July 5th were paid a dividend of $0.185 per share. The ex-dividend date of this dividend was Thursday, June 23rd. This represents a $0.74 dividend on an annualized basis and a dividend yield of 6.75%. Aecon Group's payout ratio is 180.00%.
Aecon Group Company Profile
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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 primarily on the civil infrastructure, urban transportation systems, nuclear power infrastructure, utility infrastructure, and conventional industrial infrastructure market sectors.
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