Aecon Group (TSE:ARE) Announces Quarterly Earnings Results

Aecon Group (TSE:ARE) posted its quarterly earnings results on Thursday. The company reported C$0.86 EPS for the quarter, FiscalAI reports. The firm had revenue of C$1.92 billion during the quarter. Aecon Group had a negative return on equity of 6.76% and a negative net margin of 1.10%.

Aecon Group Trading Up 0.4%

ARE traded up C$0.19 during midday trading on Thursday, hitting C$53.46. The company’s stock had a trading volume of 349,573 shares, compared to its average volume of 465,535. Aecon Group has a 52-week low of C$25.05 and a 52-week high of C$59.96. The firm has a 50-day moving average price of C$49.07 and a two-hundred day moving average price of C$45.06. The company has a current ratio of 1.08, a quick ratio of 1.27 and a debt-to-equity ratio of 84.23. The firm has a market cap of C$3.66 billion, a P/E ratio of -56.27, a PEG ratio of 18.18 and a beta of 1.16.

Aecon Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, October 2nd were issued a dividend of $0.1925 per share. The ex-dividend date was Tuesday, September 22nd. This represents a $0.77 annualized dividend and a dividend yield of 1.4%. Aecon Group’s dividend payout ratio (DPR) is -80.53%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ARE shares. Raymond James Financial upgraded shares of Aecon Group from a “hold” rating to a “moderate buy” rating and raised their price objective for the stock from C$52.00 to C$60.00 in a research report on Friday, July 3rd. National Bank Financial increased their price objective on shares of Aecon Group from C$64.00 to C$66.00 and gave the stock an “outperform” rating in a research report on Thursday, October 15th. Finally, Desjardins lifted their price objective on Aecon Group from C$55.00 to C$61.00 and gave the company a “hold” rating in a research note on Monday, July 6th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Aecon Group presently has a consensus rating of “Moderate Buy” and an average target price of C$55.17.

Insider Activity

In other Aecon Group news, insider Steven Neil Nackan sold 4,500 shares of Aecon Group stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of C$45.55, for a total transaction of C$204,975.00. Following the transaction, the insider directly owned 8,035 shares of the company’s stock, valued at C$365,994.25. The trade was a 35.90% decrease in their ownership of the stock. Also, Director Scott Stewart acquired 4,455 shares of the stock in a transaction on Friday, August 28th. The stock was purchased at an average cost of C$44.89 per share, with a total value of C$199,984.95. Following the transaction, the director directly owned 24,484 shares of the company’s stock, valued at C$1,099,086.76. This represents a 22.24% increase in their ownership of the stock. Insiders have sold 7,500 shares of company stock valued at $343,875 over the last 90 days. 0.82% of the stock is currently owned by insiders.

Aecon Group Company Profile

Aecon Group Inc (TSX: ARE) is a North American construction and infrastructure development company with global experience. Aecon delivers integrated solutions to private and public-sector clients through its Construction segment in the Civil, Urban Transportation, Nuclear, Utility and Industrial sectors, and provides project development, financing, investment, management, and operations and maintenance services through its Concessions segment.