Aecon Group (TSE:ARE) Price Target Increased to C$16.00 by Analysts at Royal Bank of Canada

Aecon Group (TSE:ARE) had its price objective hoisted by Royal Bank of Canada from C$13.00 to C$16.00 in a research note published on Friday morning, BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

A number of other research analysts have also weighed in on ARE. Stifel Nicolaus raised their price target on shares of Aecon Group from C$17.00 to C$18.25 in a research note on Friday. Paradigm Capital boosted their price target on shares of Aecon Group from C$14.00 to C$17.80 and gave the stock a hold rating in a research report on Friday. Desjardins upped their price target on Aecon Group from C$16.00 to C$20.00 and gave the company a buy rating in a research report on Thursday, March 7th. CIBC raised their target price on Aecon Group from C$22.00 to C$23.00 and gave the stock an outperform rating in a research note on Friday. Finally, Canaccord Genuity Group increased their price target on shares of Aecon Group from C$14.00 to C$26.00 and gave the company a buy rating in a research note on Thursday, March 7th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Aecon Group currently has a consensus rating of Moderate Buy and a consensus target price of C$19.17.

Aecon Group Stock Performance

TSE ARE opened at C$16.98 on Friday. The firm has a market capitalization of C$1.06 billion, a P/E ratio of 8.09, a PEG ratio of 18.18 and a beta of 1.16. Aecon Group has a fifty-two week low of C$8.42 and a fifty-two week high of C$17.40. The stock has a 50-day simple moving average of C$16.21 and a two-hundred day simple moving average of C$13.66. The company has a debt-to-equity ratio of 39.29, a quick ratio of 1.27 and a current ratio of 1.42.

Aecon Group (TSE:ARE) last issued its quarterly earnings data on Wednesday, April 24th. The company reported C($0.10) EPS for the quarter, topping analysts’ consensus estimates of C($0.14) by C$0.04. Aecon Group had a net margin of 3.49% and a return on equity of 16.04%. The business had revenue of C$846.59 million for the quarter, compared to analysts’ expectations of C$1.03 billion. On average, equities analysts forecast that Aecon Group will post 0.7603047 earnings per share for the current year.

Aecon Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Friday, March 22nd were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.48%. This is an increase from Aecon Group’s previous quarterly dividend of $0.19. Aecon Group’s payout ratio is presently 36.19%.

Insiders Place Their Bets

In related news, Senior Officer Adam Robert Borgatti acquired 4,231 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was bought at an average cost of C$13.07 per share, with a total value of C$55,299.17. In other Aecon Group news, Senior Officer Adam Robert Borgatti acquired 4,231 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were purchased at an average price 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 stock in a transaction on Friday, March 22nd. The shares were bought at an average price of C$16.33 per share, for a total transaction of C$114,310.00. 1.72% of the stock is currently owned by corporate 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.