Aecon Group (TSE:ARE) Hits New 12-Month High – Still a Buy?

Aecon Group Inc. (TSE:ARE) hit a new 52-week high on Tuesday . The stock traded as high as C$42.53 and last traded at C$42.48, with a volume of 279752 shares. The stock had previously closed at C$41.26.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ARE shares. ATB Cormark Capital Markets upped their price objective on shares of Aecon Group from C$35.00 to C$39.00 and gave the company a “sector perform” rating in a report on Monday, March 9th. Stifel Nicolaus dropped their target price on shares of Aecon Group from C$34.25 to C$28.75 and set a “hold” rating on the stock in a research report on Monday, March 9th. Canaccord Genuity Group upped their price target on shares of Aecon Group from C$40.00 to C$52.00 and gave the company a “buy” rating in a research note on Monday, March 9th. TD Securities raised their price target on shares of Aecon Group from C$39.00 to C$47.00 and gave the stock a “buy” rating in a report on Monday, March 9th. Finally, Raymond James Financial lifted their price objective on shares of Aecon Group from C$33.00 to C$41.00 and gave the stock a “market perform” rating in a research note on Tuesday, March 10th. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$39.38.

Aecon Group Price Performance

The company has a debt-to-equity ratio of 65.17, a current ratio of 1.10 and a quick ratio of 1.27. The stock has a market capitalization of C$2.69 billion, a price-to-earnings ratio of 303.64, a price-to-earnings-growth ratio of 18.18 and a beta of 1.10. The stock has a 50 day moving average price of C$36.25 and a 200-day moving average price of C$30.12.

Aecon Group (TSE:ARE) last announced its quarterly earnings data on Thursday, March 5th. The company reported C$0.52 earnings per share for the quarter. Aecon Group had a return on equity of 1.66% and a net margin of 0.28%.The company had revenue of C$1.54 billion for the quarter. On average, analysts forecast that Aecon Group Inc. will post 1.3793321 earnings per share for the current year.

Aecon Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Thursday, April 2nd will be paid a $0.1925 dividend. This represents a $0.77 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, March 23rd. Aecon Group’s dividend payout ratio (DPR) is 542.86%.

Aecon Group Company Profile

Aecon Group Inc is a Canada-based company that operates in two segments: Construction and Concessions. The Construction segment includes various aspects of the construction of public and private infrastructure projects, mainly in the transportation sector. Its concessions segment is engaged in the development, financing, construction, and operation of infrastructure projects. Aecon generates the majority of its revenue from the Construction segment.