AECOM (ACM) is gearing up to report fourth-quarter earnings results Tuesday morning, and Wall Street is expecting a solid year-over-year improvement. The infrastructure consulting giant has caught the attention of several highly accurate analysts who've been bumping up their price targets heading into the print.
Analysts are forecasting earnings of $1.34 per share for the quarter, which would mark a nice jump from the $1.27 per share AECOM posted in the same period last year. On the revenue side, consensus estimates sit at $4.31 billion compared to $4.11 billion a year earlier. Those numbers suggest steady momentum for the company as it closes out its fiscal year.
The optimism isn't coming out of nowhere. Back on August 4, AECOM delivered better-than-expected third-quarter adjusted earnings results, which seems to have given analysts confidence heading into this quarter. Shares dipped 1.2% on Monday to close at $131.92, but the recent analyst activity tells a more bullish story.
What the Most Accurate Analysts Are Saying
Let's look at what some of Wall Street's most accurate forecasters have been saying about AECOM recently:
Citigroup analyst Andrew Kaplowitz, who boasts an 84% accuracy rate, maintained his Buy rating on October 20 while raising his price target from $140 to $150. That's the highest target among this group and suggests meaningful upside from current levels.
Keybanc analyst Sangita Jain, with a 73% accuracy rate, kept an Overweight rating and lifted the price target from $131 to $144 on the same day. UBS analyst Steven Fisher, also at 73% accuracy, maintained a Buy rating back on August 6 and raised the target from $126 to $139.
Truist Securities analyst Jamie Cook (72% accuracy rate) maintained a Buy rating on October 8 and bumped the price target from $128 to $146. Meanwhile, B of A Securities analyst Michael Feniger (65% accuracy) maintained his Buy rating and raised the target from $112.50 to $124 on August 5.
The pattern is clear: every single one of these analysts maintains a bullish stance, and all of them have raised their targets. That kind of consensus from highly accurate forecasters is worth paying attention to as the company prepares to report earnings Tuesday morning.
