DA Davidson Equities Analysts Cut Earnings Estimates for Aecom Technology Corp. (ACM)
Aecom Technology Corp. (NYSE:ACM) – Stock analysts at DA Davidson decreased their Q2 2017 earnings estimates for Aecom Technology Corp. in a research report issued to clients and investors on Thursday. DA Davidson analyst J. Rogers now forecasts that the brokerage will post earnings of $0.79 per share for the quarter, down from their previous estimate of $0.83. DA Davidson has a “Neutral” rating and a $38.00 price objective on the stock.
Aecom Technology Corp. (NYSE:ACM) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.11. The firm earned $4.41 billion during the quarter, compared to analysts’ expectations of $4.52 billion. Aecom Technology Corp. had a return on equity of 14.11% and a net margin of 0.51%. Aecom Technology Corp.’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.74 earnings per share.
A number of other research firms also recently commented on ACM. Zacks Investment Research downgraded Aecom Technology Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, August 11th. Citigroup Inc. set a $43.00 price objective on Aecom Technology Corp. and gave the stock a “buy” rating in a research note on Friday, September 23rd. TheStreet raised Aecom Technology Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, August 9th. Canaccord Genuity reissued a “hold” rating and issued a $33.00 price objective on shares of Aecom Technology Corp. in a research note on Wednesday, September 7th. Finally, KeyCorp reissued a “buy” rating on shares of Aecom Technology Corp. in a research note on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Aecom Technology Corp. presently has an average rating of “Buy” and a consensus target price of $36.18.
Shares of Aecom Technology Corp. (NYSE:ACM) traded down 0.61% on Monday, hitting $27.65. The stock had a trading volume of 1,018,902 shares. The company’s 50-day moving average price is $29.64 and its 200 day moving average price is $31.75. Aecom Technology Corp. has a 12-month low of $22.80 and a 12-month high of $36.20. The firm has a market cap of $4.25 billion, a P/E ratio of 48.34 and a beta of 1.79.
In other news, Vice Chairman Daniel R. Tishman sold 30,000 shares of Aecom Technology Corp. stock in a transaction on Monday, August 1st. The stock was sold at an average price of $35.20, for a total transaction of $1,056,000.00. Following the transaction, the insider now owns 229,262 shares in the company, valued at $8,070,022.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael John Donnelly sold 5,700 shares of Aecom Technology Corp. stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $36.00, for a total value of $205,200.00. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Reilly Financial Advisors LLC acquired a new position in shares of Aecom Technology Corp. during the second quarter worth $114,000. Daiwa Securities Group Inc. purchased a new position in shares of Aecom Technology Corp. during the second quarter worth approximately $127,000. FCA Corp TX increased its position in shares of Aecom Technology Corp. by 21.4% in the second quarter. FCA Corp TX now owns 8,500 shares of the company’s stock worth $270,000 after buying an additional 1,500 shares during the period. Front Street Capital Management Inc. purchased a new position in shares of Aecom Technology Corp. during the second quarter worth approximately $299,000. Finally, LS Investment Advisors LLC increased its position in shares of Aecom Technology Corp. by 73.3% in the second quarter. LS Investment Advisors LLC now owns 9,509 shares of the company’s stock worth $302,000 after buying an additional 4,021 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.
Aecom Technology Corp. Company Profile
AECOM, formerly AECOM Technology Corporation, designs, builds, finances and operates infrastructure assets for governments, businesses and organizations around the world. The Company provides program and facilities management and maintenance, training, logistics, consulting, technical assistance, and systems integration and information technology (IT) services.
Receive News & Ratings for Aecom Technology Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aecom Technology Corp. and related companies with MarketBeat.com's FREE daily email newsletter.