Aecon Group Inc. (TSE:ARE) Receives C$19.62 Average Price Target from Analysts

Aecon Group Inc. (TSE:ARE) has been assigned an average rating of “Moderate Buy” from the thirteen brokerages that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is C$19.62.

ARE has been the subject of a number of analyst reports. BMO Capital Markets decreased their target price on shares of Aecon Group from C$17.50 to C$16.50 in a research note on Wednesday, July 24th. National Bank Financial upgraded Aecon Group from a “hold” rating to a “strong-buy” rating in a research note on Sunday, July 28th. National Bankshares raised Aecon Group from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from C$17.00 to C$20.50 in a report on Monday, July 29th. Stifel Nicolaus upgraded Aecon Group from a “hold” rating to a “buy” rating and raised their price target for the company from C$16.50 to C$25.00 in a report on Friday, July 26th. Finally, Royal Bank of Canada lifted their price target on Aecon Group from C$13.00 to C$17.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th.

Aecon Group Price Performance

Shares of ARE stock opened at C$18.15 on Friday. The business’s fifty day moving average is C$16.08 and its 200 day moving average is C$16.14. The company has a quick ratio of 1.27, a current ratio of 1.35 and a debt-to-equity ratio of 32.86. The stock has a market cap of C$1.13 billion, a price-to-earnings ratio of -67.22, a PEG ratio of 18.18 and a beta of 1.12. Aecon Group has a twelve month low of C$8.42 and a twelve month high of C$18.17.

Aecon Group (TSE:ARE) last released its earnings results on Wednesday, July 24th. The company reported C($1.99) earnings per share for the quarter, topping analysts’ consensus estimates of C($2.53) by C$0.54. Aecon Group had a net margin of 0.32% and a return on equity of 1.40%. The firm had revenue of C$853.80 million for the quarter, compared to the consensus estimate of C$1.01 billion. Research analysts expect that Aecon Group will post 1.4544715 EPS for the current fiscal year.

Aecon Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders 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 dividend yield of 4.19%. The ex-dividend date is Friday, September 20th. Aecon Group’s payout ratio is presently -281.48%.

Insider Transactions at Aecon Group

In related news, Director Scott Stewart bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were bought at an average price of C$16.54 per share, for a total transaction of C$165,380.00. In other Aecon Group news, Senior Officer Timothy John Murphy purchased 4,244 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were acquired at an average price of C$17.66 per share, for a total transaction of C$74,969.84. Also, Director Scott Stewart acquired 10,000 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were acquired at an average cost of C$16.54 per share, with a total value of C$165,380.00. Insiders purchased 16,549 shares of company stock worth $274,762 over the last three months. 0.82% of the stock is currently owned by company insiders.

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.