Aecon Group (TSE:ARE) Price Target Raised to C$23.00

Aecon Group (TSE:ARE) had its target price hoisted by CIBC from C$22.00 to C$23.00 in a report issued on Friday morning, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

Several other equities research analysts have also recently commented on the company. National Bankshares increased their price target on Aecon Group from C$15.00 to C$18.00 and gave the company a sector perform rating in a report on Friday. Raymond James increased their price objective on Aecon Group from C$14.00 to C$16.00 and gave the stock a market perform rating in a research report on Thursday, March 7th. BMO Capital Markets increased their price objective on Aecon Group from C$17.50 to C$18.50 in a research report on Friday. Desjardins increased their price objective on Aecon Group from C$16.00 to C$20.00 and gave the stock a buy rating in a research report on Thursday, March 7th. Finally, Stifel Nicolaus increased their price objective on Aecon Group from C$17.00 to C$18.25 in a research report on Friday. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of C$19.17.

Aecon Group Price Performance

TSE:ARE opened at C$17.05 on Friday. Aecon Group has a one year low of C$8.42 and a one year high of C$17.40. The company has a debt-to-equity ratio of 39.29, a quick ratio of 1.27 and a current ratio of 1.42. The stock has a market cap of C$1.06 billion, a PE ratio of 8.12, a P/E/G ratio of 18.18 and a beta of 1.16. The stock has a 50 day moving average price of C$16.15 and a 200 day moving average price of C$13.58.

Aecon Group (TSE:ARE) last posted its quarterly earnings results on Wednesday, April 24th. The company reported C($0.10) EPS for the quarter, beating the consensus estimate of C($0.14) by C$0.04. Aecon Group had a return on equity of 16.04% and a net margin of 3.49%. The firm had revenue of C$846.59 million during the quarter, compared to analysts’ expectations of C$1.03 billion. Equities research analysts expect that Aecon Group will post 0.7603047 EPS for the current fiscal year.

Aecon Group Increases Dividend

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

Insider Transactions at Aecon Group

In other news, Senior Officer Adam Robert Borgatti purchased 4,231 shares of the stock in a transaction dated Tuesday, March 26th. The stock was acquired at an average cost of C$13.07 per share, for a total transaction of C$55,299.17. In related news, Senior Officer Martina Doyle sold 2,265 shares of Aecon Group stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of C$16.42, for a total value of C$37,191.30. Also, Senior Officer Adam Robert Borgatti bought 4,231 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was bought at an average price of C$13.07 per share, with a total value of C$55,299.17. Company insiders own 1.72% of the company’s stock.

Aecon Group Company Profile

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.