AECOM (NYSE:ACM) announced that its board has initiated a stock repurchase program, which authorizes the company to repurchase $1.00 billion in outstanding shares on Thursday, September 21st, EventVestor reports. This repurchase authorization authorizes the construction company to purchase up to 18.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Several analysts have issued reports on ACM shares. Argus decreased their price target on shares of AECOM from $43.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, June 2nd. KeyCorp restated a “buy” rating and issued a $40.00 price target on shares of AECOM in a research report on Friday, August 25th. Citigroup Inc. set a $40.00 price target on shares of AECOM and gave the stock a “buy” rating in a research report on Thursday, August 17th. Credit Suisse Group restated a “buy” rating and issued a $44.00 price target on shares of AECOM in a research report on Thursday, June 29th. Finally, UBS AG set a $38.00 price target on shares of AECOM and gave the stock a “buy” rating in a research report on Monday, June 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. AECOM currently has a consensus rating of “Hold” and an average target price of $38.64.

Shares of AECOM (NYSE:ACM) opened at 35.54 on Friday. AECOM has a 12 month low of $26.46 and a 12 month high of $40.72. The firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of 21.76 and a beta of 1.70. The stock’s 50 day moving average is $32.45 and its 200 day moving average is $33.16.

AECOM (NYSE:ACM) last released its quarterly earnings results on Tuesday, August 8th. The construction company reported $0.78 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.78. AECOM had a net margin of 1.46% and a return on equity of 12.19%. The business had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the prior year, the company posted $0.81 earnings per share. AECOM’s revenue was up 3.5% compared to the same quarter last year. Equities research analysts forecast that AECOM will post $2.91 earnings per share for the current fiscal year.

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AECOM Company Profile

AECOM is engaged in designing, building, financing and operating infrastructure assets for governments, businesses and organizations. The Company’s segments include design and consulting services (DCS), construction services (CS) and management services (MS). Its DCS segment is engaged in planning, consulting, architectural and engineering design services to commercial and government clients in major end markets, such as transportation, facilities, environmental, energy, water and government.

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