Aecon Group (TSE:ARE) PT Lowered to C$22.00

Aecon Group (TSE:ARE) had its price target cut by equities researchers at CIBC from C$23.00 to C$22.00 in a report issued on Thursday, BayStreet.CA reports. CIBC’s price objective would suggest a potential upside of 49.97% from the company’s previous close.

Several other analysts have also issued reports on the company. Canaccord Genuity Group reduced their target price on Aecon Group from C$26.00 to C$25.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Desjardins decreased their target price on shares of Aecon Group from C$20.00 to C$18.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Stifel Nicolaus lifted their price objective on shares of Aecon Group from C$16.25 to C$16.50 in a research note on Wednesday, July 3rd. TD Securities decreased their target price on Aecon Group from C$18.00 to C$17.00 and set a “hold” rating on the stock in a research report on Tuesday, July 2nd. Finally, Royal Bank of Canada lowered their target price on Aecon Group from C$16.00 to C$13.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 2nd. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$18.23.

Aecon Group Stock Performance

Shares of TSE ARE traded down C$0.04 during trading hours on Thursday, reaching C$14.67. 250,739 shares of the stock were exchanged, compared to its average volume of 301,489. The firm has a market capitalization of C$913.50 million, a price-to-earnings ratio of 6.82, a P/E/G ratio of 18.18 and a beta of 1.19. The stock’s fifty day simple moving average is C$16.39 and its 200 day simple moving average is C$15.58. The company has a debt-to-equity ratio of 28.71, a quick ratio of 1.27 and a current ratio of 1.50. Aecon Group has a 52 week low of C$8.42 and a 52 week high of C$17.40.

Aecon Group (TSE:ARE) last posted its quarterly earnings data on Wednesday, April 24th. The company reported C($0.10) earnings per share for the quarter, topping the consensus estimate of C($0.14) by C$0.04. The firm had revenue of C$846.59 million for the quarter, compared to analysts’ expectations of C$1.03 billion. Aecon Group had a return on equity of 16.62% and a net margin of 3.77%. Sell-side analysts predict that Aecon Group will post 0.9104803 EPS for the current year.

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.