Aecon Group (TSE:ARE) Given New C$16.50 Price Target at BMO Capital Markets

Aecon Group (TSE:ARE) had its price target decreased by BMO Capital Markets from C$17.50 to C$16.50 in a research note released on Wednesday morning, BayStreet.CA reports.

A number of other brokerages also recently weighed in on ARE. ATB Capital boosted their target price on shares of Aecon Group from C$19.50 to C$21.00 and gave the stock an outperform rating in a research note on Friday, April 26th. Paradigm Capital boosted their target price on shares of Aecon Group from C$14.00 to C$17.80 and gave the stock a hold rating in a research note on Friday, April 26th. Raymond James boosted their target price on shares of Aecon Group from C$16.00 to C$17.00 and gave the stock a market perform rating in a research note on Friday, April 26th. Desjardins dropped their target price on shares of Aecon Group from C$20.00 to C$18.00 and set a buy rating for the company in a research note on Tuesday, July 2nd. Finally, Royal Bank of Canada dropped their price target on shares of 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. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of C$18.69.

Aecon Group Price Performance

Shares of Aecon Group stock opened at C$15.63 on Wednesday. The company has a debt-to-equity ratio of 28.71, a quick ratio of 1.27 and a current ratio of 1.50. The firm’s 50-day simple moving average is C$15.85 and its 200-day simple moving average is C$15.71. Aecon Group has a twelve month low of C$8.42 and a twelve month high of C$17.40. The firm has a market cap of C$973.28 million, a P/E ratio of 7.27, a price-to-earnings-growth ratio of 18.18 and a beta of 1.19.

Aecon Group (TSE:ARE) last released its quarterly earnings results on Wednesday, April 24th. The company reported C($0.10) EPS for the quarter, beating analysts’ consensus estimates of C($0.14) by C$0.04. The firm had revenue of C$846.59 million for the quarter, compared to analyst estimates of C$1.03 billion. Aecon Group had a net margin of 3.77% and a return on equity of 16.62%. As a group, research analysts expect that Aecon Group will post 0.9104803 EPS for the current fiscal year.

Aecon Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Friday, September 20th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date is Friday, September 20th. Aecon Group’s dividend payout ratio is currently 35.35%.

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.