Aecon Group (TSE:ARE) Releases Earnings Results

Aecon Group (TSE:ARE) released its earnings results on Thursday. The company reported C$0.33 earnings per share (EPS) for the quarter, FiscalAI reports. Aecon Group had a return on equity of 3.71% and a net margin of 0.62%.The business had revenue of C$1.63 billion for the quarter.

Aecon Group Price Performance

ARE opened at C$44.78 on Friday. Aecon Group has a twelve month low of C$17.06 and a twelve month high of C$57.72. The firm has a market cap of C$3.07 billion, a price-to-earnings ratio of 81.42, a PEG ratio of 18.18 and a beta of 1.38. The company has a current ratio of 1.16, a quick ratio of 1.27 and a debt-to-equity ratio of 42.80. The company has a fifty day simple moving average of C$46.99 and a 200 day simple moving average of C$43.49.

Aecon Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 3rd. Stockholders of record on Friday, July 3rd were paid a $0.1925 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $0.77 annualized dividend and a dividend yield of 1.7%. Aecon Group’s dividend payout ratio is 138.64%.

Insider Buying and Selling at Aecon Group

In other Aecon Group news, insider Timothy John Murphy sold 2,930 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of C$52.31, for a total value of C$153,268.30. Following the completion of the transaction, the insider directly owned 4,801 shares of the company’s stock, valued at C$251,140.31. This represents a 37.90% decrease in their position. Also, insider Ernest Chan sold 521 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of C$55.09, for a total value of C$28,701.89. Following the transaction, the insider owned 11,003 shares of the company’s stock, valued at approximately C$606,155.27. This trade represents a 4.52% decrease in their ownership of the stock. Insiders sold a total of 23,451 shares of company stock valued at $1,177,370 in the last ninety days. Insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. National Bank Financial lifted their target price on shares of Aecon Group from C$59.00 to C$65.00 and gave the company an “outperform” rating in a report on Monday, July 13th. TD lowered their price objective on Aecon Group from C$62.00 to C$61.00 and set a “buy” rating for the company in a research report on Friday, June 26th. Stifel Nicolaus raised shares of Aecon Group from a “hold” rating to a “buy” rating and upped their price objective for the company from C$46.00 to C$54.00 in a research note on Friday, June 26th. Canadian Imperial Bank of Commerce increased their price target on shares of Aecon Group from C$45.00 to C$48.00 in a research note on Thursday, April 9th. Finally, Desjardins raised their price objective on Aecon Group from C$55.00 to C$61.00 and gave the stock a “hold” rating in a report on Monday, July 6th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$55.08.

Aecon Group Company Profile

Aecon Group Inc is a Canada-based company that operates in two segments: Construction and Concessions. The Construction segment includes various aspects of the construction of public and private infrastructure projects, mainly in the transportation sector. Its concessions segment is engaged in the development, financing, construction, and operation of infrastructure projects. Aecon generates the majority of its revenue from the Construction segment.