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

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

Several other research firms also recently commented on ARE. Desjardins boosted their target price on Aecon Group from C$16.00 to C$20.00 and gave the stock a buy rating in a report on Thursday, March 7th. ATB Capital boosted their price target on Aecon Group from C$15.25 to C$19.50 and gave the stock an outperform rating in a research note on Thursday, March 7th. Royal Bank of Canada upped their price objective on Aecon Group from C$10.00 to C$13.00 and gave the company a sector perform rating in a research report on Thursday, March 7th. National Bankshares upped their price objective on Aecon Group from C$15.00 to C$18.00 and gave the company a sector perform rating in a research report on Friday. Finally, Canaccord Genuity Group upped their price target on Aecon Group from C$14.00 to C$26.00 and gave the stock a buy rating in a research report on Thursday, March 7th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of C$19.17.

Aecon Group Price Performance

Shares of Aecon Group stock opened at C$16.98 on Friday. The company has a debt-to-equity ratio of 39.29, a current ratio of 1.42 and a quick ratio of 1.27. The business’s 50 day simple moving average is C$16.21 and its two-hundred day simple moving average is C$13.66. The stock has a market capitalization of C$1.06 billion, a P/E ratio of 8.09, a price-to-earnings-growth ratio of 18.18 and a beta of 1.16. Aecon Group has a one year low of C$8.42 and a one year high of C$17.40.

Aecon Group (TSE:ARE) last issued its quarterly earnings data on Wednesday, April 24th. The company reported C($0.10) earnings per share for the quarter, topping 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 return on equity of 16.04% and a net margin of 3.49%. Analysts forecast that Aecon Group will post 0.7603047 EPS for the current year.

Aecon Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Friday, March 22nd were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 4.48%. The ex-dividend date was Thursday, March 21st. This is a positive change from Aecon Group’s previous quarterly dividend of $0.19. Aecon Group’s payout ratio is currently 36.19%.

Insider Buying and Selling

In other Aecon Group news, Director Stuart Lee acquired 7,000 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were purchased at an average cost of C$16.33 per share, for a total transaction of C$114,310.00. In other news, Senior Officer Martina Doyle sold 2,265 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of C$16.42, for a total transaction of C$37,191.30. Also, Director Stuart Lee bought 7,000 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was acquired at an average cost of C$16.33 per share, for a total transaction of C$114,310.00. 1.72% of the stock is currently owned by insiders.

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.