Aecon Group (TSE:ARE) Stock Breaks Below 50 Day Moving Average – Here’s What Happened

Aecon Group Inc. (TSE:ARE) shares crossed below its 50-day moving average during trading on Friday. The stock has a 50-day moving average of C$49.31 and traded as low as C$48.57. Aecon Group shares last traded at C$49.23, with a volume of 1,240,233 shares traded.

Analysts Set New Price Targets

ARE has been the topic of a number of recent research reports. Desjardins increased their price objective on shares of 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. Raymond James Financial boosted their price objective on shares of Aecon Group from C$60.00 to C$65.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, National Bank Financial upped their target price on Aecon Group from C$64.00 to C$66.00 and gave the stock an “outperform” rating in a report on Thursday, October 15th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$55.58.

Aecon Group Stock Performance

The business has a 50-day moving average of C$49.31 and a two-hundred day moving average of C$45.25. The company has a market cap of C$3.37 billion, a P/E ratio of -51.82, a P/E/G ratio of 18.18 and a beta of 1.16. The company has a debt-to-equity ratio of 84.23, a current ratio of 1.08 and a quick ratio of 1.27.

Aecon Group (TSE:ARE) last announced its earnings results on Thursday, October 29th. The company reported C$0.86 EPS for the quarter. The business had revenue of C$1.92 billion during the quarter. Aecon Group had a negative net margin of 1.10% and a negative return on equity of 6.76%. On average, sell-side analysts predict that Aecon Group Inc. will post 1.38 EPS for the current fiscal year.

Aecon Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, October 2nd were given a $0.1925 dividend. The ex-dividend date of this dividend was Tuesday, September 22nd. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.6%. Aecon Group’s payout ratio is presently -80.53%.

Insider Buying and Selling

In related news, insider Steven Neil Nackan sold 4,500 shares of the 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 completion of the sale, the insider owned 8,035 shares of the company’s stock, valued at C$365,994.25. This represents a 35.90% decrease in their ownership of the stock. Also, Director Scott Stewart bought 4,455 shares of the stock in a transaction on Friday, August 28th. The stock was purchased at an average price of C$44.89 per share, with a total value of C$199,984.95. Following the completion of the purchase, the director 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. In the last ninety days, insiders sold 7,500 shares of company stock worth $343,875. Insiders own 0.82% of the company’s stock.

About Aecon Group

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.