DA Davidson Comments on Aecom Technology Corp.’s Q2 2017 Earnings (ACM)
Aecom Technology Corp. (NYSE:ACM) – Investment analysts at DA Davidson lowered their Q2 2017 EPS estimates for shares of Aecom Technology Corp. in a research note issued on Thursday. DA Davidson analyst J. Rogers now anticipates that the firm will post earnings per share of $0.79 for the quarter, down from their previous forecast 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 for the quarter, topping analysts’ consensus estimates of $0.70 by $0.11. The firm earned $4.41 billion during the quarter, compared to analyst estimates of $4.52 billion. Aecom Technology Corp. had a return on equity of 14.11% and a net margin of 0.51%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.74 earnings per share.
A number of other equities analysts have also issued reports on the company. Deutsche Bank AG reduced their target price on Aecom Technology Corp. from $41.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, August 22nd. Citigroup Inc. set a $43.00 target price on Aecom Technology Corp. and gave the stock a “buy” rating in a research note on Friday, September 23rd. Zacks Investment Research lowered Aecom Technology Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 19th. Canaccord Genuity restated a “hold” rating and issued a $33.00 target price on shares of Aecom Technology Corp. in a research note on Wednesday, September 7th. Finally, Standpoint Research restated a “buy” rating on shares of Aecom Technology Corp. in a research note on Wednesday, July 27th. 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. The company presently has an average rating of “Buy” and an average price target of $36.18.
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Shares of Aecom Technology Corp. (NYSE:ACM) opened at 28.74 on Monday. The company has a 50 day moving average price of $29.87 and a 200-day moving average price of $31.78. Aecom Technology Corp. has a 52-week low of $22.80 and a 52-week high of $36.20. The stock has a market capitalization of $4.42 billion, a P/E ratio of 50.24 and a beta of 1.79.
A number of large investors have recently bought and sold shares of the company. State Street Corp boosted its stake in Aecom Technology Corp. by 1.7% in the first quarter. State Street Corp now owns 3,989,728 shares of the company’s stock valued at $122,842,000 after buying an additional 65,203 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in Aecom Technology Corp. by 21.9% in the first quarter. Panagora Asset Management Inc. now owns 1,241,419 shares of the company’s stock valued at $38,223,000 after buying an additional 223,207 shares during the last quarter. Norges Bank purchased a new stake in Aecom Technology Corp. during the fourth quarter valued at about $32,424,000. First Republic Investment Management Inc. purchased a new stake in Aecom Technology Corp. during the first quarter valued at about $1,924,000. Finally, BlackRock Fund Advisors boosted its stake in Aecom Technology Corp. by 0.3% in the first quarter. BlackRock Fund Advisors now owns 4,934,824 shares of the company’s stock valued at $151,943,000 after buying an additional 12,509 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.
In related news, insider Frederick W. Werner sold 27,787 shares of Aecom Technology Corp. stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $27.83, for a total value of $773,312.21. Following the sale, the insider now directly owns 62,936 shares in the company, valued at approximately $1,751,508.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman Daniel R. Tishman sold 30,000 shares of Aecom Technology Corp. stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $35.20, for a total value of $1,056,000.00. Following the completion of the sale, the insider now owns 229,262 shares in the company, valued at $8,070,022.40. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.
About Aecom Technology Corp.
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.
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