Aecon Group Inc. (TSE:ARE – Get Rating) – Analysts at Desjardins decreased their FY2022 earnings per share estimates for Aecon Group in a report issued on Monday, August 1st. Desjardins analyst B. Poirier now forecasts that the company will earn $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.
Get Aecon Group alerts:Several other brokerages have also issued reports on ARE. Stifel Nicolaus cut their price target on Aecon Group from C$14.00 to C$11.00 in a research note on Tuesday. TD Securities lowered Aecon Group from a "buy" rating to a "hold" rating and cut their price target for the company from C$19.50 to C$12.50 in a research note on Tuesday. National Bankshares cut their price target on Aecon Group from C$18.00 to C$13.00 and set a "sector perform" rating on the stock in a research note on Tuesday. Royal Bank of Canada dropped their price objective on Aecon Group from C$16.00 to C$13.00 and set a "sector perform" rating for the company in a report on Tuesday. Finally, ATB Capital dropped their price objective on Aecon Group from C$18.25 to C$14.00 in a report on Tuesday. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Aecon Group presently has an average rating of "Hold" and an average target price of C$15.41.
Aecon Group Trading Up 1.6 %
Shares of ARE opened at C$10.97 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.38 and a debt-to-equity ratio of 110.06. Aecon Group has a 12-month low of C$10.57 and a 12-month high of C$22.28. The firm has a market capitalization of C$668.68 million and a PE ratio of 27.43. The stock's fifty day simple moving average is C$13.25 and its 200-day simple moving average is C$15.19.Aecon Group Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 5th. Shareholders of record on Tuesday, July 5th were issued a $0.185 dividend. The ex-dividend date was Thursday, June 23rd. This represents a $0.74 annualized dividend and a dividend yield of 6.75%. Aecon Group's dividend payout ratio (DPR) is currently 180.00%.
About Aecon Group
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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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