Aecon Group (TSE:ARE) Shares Cross Above 200 Day Moving Average – What’s Next?

Aecon Group Inc. (TSE:ARE) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$39.20 and traded as high as C$43.44. Aecon Group shares last traded at C$42.40, with a volume of 868,778 shares.

Analysts Set New Price Targets

Several brokerages have issued reports on ARE. Royal Bank Of Canada increased their target price on shares of Aecon Group from C$44.00 to C$49.00 and gave the stock a “sector perform” rating in a report on Thursday, April 30th. Canadian Imperial Bank of Commerce increased their target price on shares of Aecon Group from C$45.00 to C$48.00 in a report on Thursday, April 9th. Desjardins increased their target price on shares of Aecon Group from C$45.00 to C$52.00 and gave the stock a “hold” rating in a report on Thursday, April 30th. National Bank Financial increased their target price on shares of Aecon Group from C$48.00 to C$59.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Finally, ATB Cormark Capital Markets increased their target price on shares of Aecon Group from C$42.00 to C$49.00 and gave the stock a “sector perform” rating in a report on Thursday, April 30th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$52.29.

Aecon Group Stock Down 1.7%

The firm has a market capitalization of C$2.90 billion, a P/E ratio of 77.09, a PEG ratio of 18.18 and a beta of 1.36. The company has a debt-to-equity ratio of 42.80, a quick ratio of 1.27 and a current ratio of 1.16. The business’s fifty day moving average price is C$47.00 and its two-hundred day moving average price is C$39.20.

Aecon Group (TSE:ARE) last released its quarterly earnings results on Tuesday, April 28th. The company reported C($0.21) earnings per share for the quarter. The firm had revenue of C$1.26 billion during the quarter. Aecon Group had a net margin of 0.62% and a return on equity of 3.71%. Equities analysts expect that Aecon Group Inc. will post 1.3793321 earnings per share for the current fiscal year.

Aecon Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Thursday, April 2nd were given a $0.1925 dividend. This represents a $0.77 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, March 23rd. Aecon Group’s dividend payout ratio (DPR) is presently 138.64%.

Insider Activity at Aecon Group

In other Aecon Group news, insider Ernest Chan sold 521 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of C$55.09, for a total transaction of C$28,701.89. Following the completion of the transaction, the insider directly owned 11,003 shares of the company’s stock, valued at approximately C$606,155.27. This trade represents a 4.52% decrease in their position. Also, Director John Michael Beck sold 20,000 shares of Aecon Group stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of C$49.77, for a total transaction of C$995,400.00. Following the transaction, the director directly owned 201,417 shares of the company’s stock, valued at approximately C$10,024,524.09. This trade represents a 9.03% decrease in their ownership of the stock. Over the last quarter, insiders sold 148,451 shares of company stock valued at $6,382,370. Company insiders own 0.82% of the company’s stock.

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.