Aecon Group Inc. (TSE:ARE) Expected to Earn Q3 2023 Earnings of $0.38 Per Share

Aecon Group Inc. (TSE:ARE – Get Rating) – Equities researchers at National Bank Financial decreased their Q3 2023 earnings per share estimates for Aecon Group in a report released on Monday, April 10th. National Bank Financial analyst M. Sytchev now anticipates that the company will earn $0.38 per share for the quarter, down from their prior forecast of $0.42. The consensus estimate for Aecon Group’s current full-year earnings is $0.93 per share. National Bank Financial also issued estimates for Aecon Group’s Q4 2023 earnings at $0.34 EPS.

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A number of other research analysts have also commented on the company. Royal Bank of Canada upped their price target on Aecon Group from C$12.00 to C$15.00 and gave the stock a “sector perform” rating in a report on Wednesday, March 22nd. Raymond James upped their target price on Aecon Group from C$17.00 to C$20.00 and gave the company an “outperform” rating in a research note on Wednesday. Canaccord Genuity Group upped their target price on Aecon Group from C$11.00 to C$14.00 in a research note on Thursday, March 16th. Stifel Nicolaus upped their target price on Aecon Group from C$11.00 to C$11.50 in a research note on Thursday, March 2nd. Finally, Laurentian set a C$11.50 target price on Aecon Group and gave the company a “hold” rating in a research note on Monday, January 16th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$14.05.

Aecon Group Stock Up 1.0 %

Shares of Aecon Group stock opened at C$13.55 on Wednesday. The stock has a market capitalization of C$833.87 million, a P/E ratio of 28.83, a PEG ratio of 18.18 and a beta of 1.03. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 95.29. The stock has a 50 day moving average price of C$12.13 and a two-hundred day moving average price of C$10.60. Aecon Group has a 12-month low of C$8.29 and a 12-month high of C$16.60.

Aecon Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 4th. Investors of record on Tuesday, April 4th were issued a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 5.46%. The ex-dividend date of this dividend was Thursday, March 23rd. Aecon Group’s dividend payout ratio is 157.45%.

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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