Desjardins Weighs in on Aecon Group Inc’s Q3 2019 Earnings (ARE)

Aecon Group Inc (TSE:ARE) – Desjardins issued their Q3 2019 earnings per share estimates for shares of Aecon Group in a note issued to investors on Thursday, March 7th. Desjardins analyst B. Poirier anticipates that the company will post earnings of $0.84 per share for the quarter. Desjardins also issued estimates for Aecon Group’s Q4 2019 earnings at $0.57 EPS, FY2019 earnings at $1.03 EPS, FY2020 earnings at $1.17 EPS and FY2021 earnings at $1.23 EPS.

Get Aecon Group alerts:

Several other equities research analysts have also weighed in on ARE. National Bank Financial increased their target price on shares of Aecon Group from C$21.00 to C$21.50 and gave the stock an “outperform” rating in a report on Thursday. Canaccord Genuity increased their target price on shares of Aecon Group from C$24.00 to C$25.00 in a report on Thursday. Raymond James reiterated a “strong-buy” rating and issued a C$23.00 target price on shares of Aecon Group in a report on Wednesday. Finally, CIBC raised their price objective on shares of Aecon Group from C$21.00 to C$23.00 in a report on Tuesday, January 15th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of C$22.56.

ARE opened at C$18.97 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.29 and a debt-to-equity ratio of 99.99. The firm has a market capitalization of $1.17 billion and a price-to-earnings ratio of 21.66. Aecon Group has a twelve month low of C$14.27 and a twelve month high of C$19.79.

Aecon Group Company Profile

Aecon Group Inc provides construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally. It operates through four segments: Infrastructure, Energy, Mining, and Concessions. The Infrastructure segment is involved in the construction of roads and bridges, and rail and transit systems, as well as in asphalt production and aggregates, municipal construction, commercial site design, and material engineering and design activities.

Featured Article: What are different types of coverage ratios?