Aecon Group (TSE:ARE) Announces Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Aecon Group (TSE:ARE) issued its earnings results on Wednesday. The company reported C($0.10) earnings per share for the quarter, beating the consensus estimate of C($0.14) by C$0.04, reports. The company had revenue of C$846.59 million during the quarter, compared to analysts’ expectations of C$1.03 billion. Aecon Group had a return on equity of 16.04% and a net margin of 3.49%.

Aecon Group Stock Down 0.4 %

Shares of TSE:ARE opened at C$17.05 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.27 and a debt-to-equity ratio of 39.29. The stock has a fifty day simple moving average of C$16.08 and a two-hundred day simple moving average of C$13.54. Aecon Group has a 12-month low of C$8.42 and a 12-month high of C$17.40. The stock has a market capitalization of C$1.06 billion, a price-to-earnings ratio of 8.12, a PEG ratio of 18.18 and a beta of 1.16.

Aecon Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Friday, March 22nd were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date was Thursday, March 21st. This is a boost from Aecon Group’s previous quarterly dividend of $0.19. Aecon Group’s dividend payout ratio (DPR) is presently 36.19%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Raymond James increased their target price on Aecon Group from C$16.00 to C$17.00 and gave the company a “market perform” rating in a report on Friday. National Bankshares increased their price objective on Aecon Group from C$15.00 to C$18.00 and gave the stock a “sector perform” rating in a report on Friday. CIBC increased their price objective on Aecon Group from C$22.00 to C$23.00 and gave the stock an “outperform” rating in a report on Friday. BMO Capital Markets increased their price objective on Aecon Group from C$17.50 to C$18.50 in a report on Friday. Finally, Paradigm Capital increased their price objective on Aecon Group from C$14.00 to C$17.80 and gave the stock a “hold” rating in a report on Friday. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Aecon Group presently has a consensus rating of “Moderate Buy” and an average target price of C$19.17.

Insiders Place Their Bets

In related news, Senior Officer Adam Robert Borgatti bought 4,231 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were acquired at an average cost of C$13.07 per share, with a total value of C$55,299.17. In related news, Senior Officer Adam Robert Borgatti bought 4,231 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were acquired at an average cost of C$13.07 per share, with a total value of C$55,299.17. Also, Director Stuart Lee bought 7,000 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was bought at an average cost of C$16.33 per share, for a total transaction of C$114,310.00. Corporate insiders own 1.72% of the company’s stock.

About Aecon Group

Aecon Group Inc, together with its subsidiaries, provide construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally. It operates through two segments, Construction and Concessions. The Construction segment focuses on civil infrastructure, urban transportation solutions, nuclear power infrastructure, utility infrastructure, and conventional industrial infrastructure market sectors.