Aecon Group Inc (TSE:ARE) – Research analysts at Desjardins lowered their Q4 2018 EPS estimates for Aecon Group in a report released on Sunday, October 28th. Desjardins analyst B. Poirier now expects that the company will earn $0.44 per share for the quarter, down from their prior forecast of $0.54. Desjardins also issued estimates for Aecon Group’s FY2019 earnings at $1.09 EPS.
Several other research analysts also recently issued reports on the stock. AltaCorp Capital upgraded shares of Aecon Group from a “sector perform” rating to an “outperform” rating in a research note on Monday. National Bank Financial upped their target price on shares of Aecon Group from C$20.00 to C$21.00 and gave the stock an “outperform” rating in a research note on Monday. Royal Bank of Canada upped their target price on shares of Aecon Group from C$18.00 to C$20.00 and gave the stock a “sector perform” rating in a research note on Monday. TD Securities upped their target price on shares of Aecon Group from C$21.00 to C$23.00 and gave the stock a “buy” rating in a research note on Monday. Finally, CIBC increased their price objective on shares of Aecon Group from C$20.00 to C$21.00 in a research report on Monday. One research analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of C$22.00.
In related news, Director John Michael Beck sold 20,922 shares of the stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of C$16.51, for a total transaction of C$345,422.22.
About Aecon Group
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.
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