National Bank Financial Raises Aecon Group (ARE) Price Target to C$24.00

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Aecon Group (TSE:ARE) had its price target raised by National Bank Financial from C$21.50 to C$24.00 in a report issued on Monday morning.

A number of other brokerages have also commented on ARE. Raymond James reiterated a strong-buy rating and set a C$23.00 price target on shares of Aecon Group in a report on Wednesday, March 6th. Canaccord Genuity upped their price target on Aecon Group from C$24.00 to C$25.00 in a report on Thursday, March 7th. Finally, CIBC upped their price target on Aecon Group from C$21.00 to C$23.00 in a report on Tuesday, January 15th. One analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of C$22.88.

Shares of ARE stock opened at C$17.88 on Monday. Aecon Group has a 12 month low of C$14.27 and a 12 month high of C$19.79. The company has a market cap of $1.07 billion and a PE ratio of 19.02. The company has a debt-to-equity ratio of 78.27, a current ratio of 1.70 and a quick ratio of 0.65.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, April 1st will be issued a dividend of $0.145 per share. The ex-dividend date of this dividend is Thursday, March 21st. This is a positive change from Aecon Group’s previous quarterly dividend of $0.13. This represents a $0.58 dividend on an annualized basis and a dividend yield of 3.24%. Aecon Group’s payout ratio is 53.19%.

In other news, Director John Michael Beck sold 20,900 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of C$18.30, for a total transaction of C$382,470.00.

About Aecon Group

Aecon Group Inc provides construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally. It operates through four segments: Infrastructure, Energy, Mining, and Concessions. The Infrastructure segment is involved in the construction of roads and bridges, and rail and transit systems, as well as in asphalt production and aggregates, municipal construction, commercial site design, and material engineering and design activities.

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