Aecon Group Inc. (TSE:ARE) Receives C$55.08 Consensus Target Price from Analysts

Shares of Aecon Group Inc. (TSE:ARE) have received an average recommendation of “Moderate Buy” from the eleven brokerages that are covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is C$55.08.

A number of research firms have commented on ARE. Royal Bank Of Canada raised their target price on shares of Aecon Group from C$44.00 to C$49.00 and gave the company a “sector perform” rating in a research report on Thursday, April 30th. Desjardins upped their price target on shares of Aecon Group from C$55.00 to C$61.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Jefferies Financial Group increased their price objective on shares of Aecon Group from C$49.00 to C$59.00 in a research note on Monday, April 27th. TD cut their price objective on shares of Aecon Group from C$62.00 to C$61.00 and set a “buy” rating on the stock in a report on Friday, June 26th. Finally, Canaccord Genuity Group lifted their price objective on shares of Aecon Group from C$56.00 to C$57.00 and gave the company a “buy” rating in a report on Monday, June 29th.

Insider Activity

In other news, insider Steven Neil Nackan sold 1,000 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of C$47.72, for a total value of C$47,720.00. Following the completion of the transaction, the insider directly owned 14,535 shares of the company’s stock, valued at approximately C$693,610.20. The trade was a 6.44% decrease in their position. Corporate insiders own 0.82% of the company’s stock.

Aecon Group Stock Up 3.8%

Shares of TSE:ARE opened at C$46.49 on Tuesday. The business’s 50 day moving average is C$47.20 and its 200 day moving average is C$44.40. The stock has a market cap of C$3.19 billion, a P/E ratio of -48.94, a price-to-earnings-growth ratio of 18.18 and a beta of 1.41. Aecon Group has a 52-week low of C$19.81 and a 52-week high of C$57.72. The company has a quick ratio of 1.27, a current ratio of 1.08 and a debt-to-equity ratio of 84.23.

Aecon Group (TSE:ARE) last issued its earnings results on Thursday, July 30th. The company reported C$0.33 earnings per share for the quarter. Aecon Group had a negative return on equity of 6.76% and a negative net margin of 1.10%.The business had revenue of C$1.63 billion during the quarter. Sell-side analysts predict that Aecon Group will post 1.3793321 EPS for the current year.

Aecon Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 3rd. Shareholders of record on Friday, July 3rd were given a dividend of $0.1925 per share. This represents a $0.77 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Tuesday, June 23rd. Aecon Group’s dividend payout ratio (DPR) is -80.53%.

About Aecon Group

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.