Brokerages Set Aecon Group Inc. (TSE:ARE) Target Price at C$55.08

Aecon Group Inc. (TSE:ARE) has been given an average rating of “Moderate Buy” by the eleven brokerages that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is C$55.08.

A number of research firms recently commented on ARE. Royal Bank Of Canada upped their price objective on Aecon Group from C$44.00 to C$49.00 and gave the company a “sector perform” rating in a report on Thursday, April 30th. TD cut their target price on Aecon Group from C$62.00 to C$61.00 and set a “buy” rating for the company in a research note on Friday, June 26th. TD Securities raised their target price on Aecon Group from C$47.00 to C$49.00 and gave the stock a “buy” rating in a research note on Monday, March 30th. Jefferies Financial Group lifted their target price on Aecon Group from C$49.00 to C$59.00 in a research report on Monday, April 27th. Finally, Raymond James Financial raised Aecon Group from a “hold” rating to a “moderate buy” rating and upped their price target for the company from C$52.00 to C$60.00 in a research note on Friday, July 3rd.

Aecon Group Price Performance

Shares of ARE stock opened at C$53.93 on Friday. The company has a debt-to-equity ratio of 42.80, a current ratio of 1.16 and a quick ratio of 1.27. The firm’s 50-day moving average is C$46.98 and its two-hundred day moving average is C$42.36. Aecon Group has a 12 month low of C$17.06 and a 12 month high of C$57.72. The company has a market capitalization of C$3.69 billion, a PE ratio of 98.05, a price-to-earnings-growth ratio of 18.18 and a beta of 1.38.

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

Aecon Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 3rd. Shareholders of record on Friday, July 3rd were paid a dividend of $0.1925 per share. This represents a $0.77 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, June 23rd. Aecon Group’s dividend payout ratio (DPR) is 138.64%.

Insider Buying and Selling at Aecon Group

In other news, Director John Michael Beck sold 20,000 shares of the business’s 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 value of C$995,400.00. Following the sale, the director directly owned 201,417 shares of the company’s stock, valued at approximately C$10,024,524.09. The trade was a 9.03% decrease in their position. Also, insider Ernest Chan sold 521 shares of the business’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 sale, the insider directly owned 11,003 shares in the company, valued at C$606,155.27. This trade represents a 4.52% decrease in their ownership of the stock. Insiders sold a total of 23,451 shares of company stock worth $1,177,370 over the last three months. 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.