Aecon Group Inc. (TSE:ARE) Receives C$55.08 Consensus Target Price from Analysts

Aecon Group Inc. (TSE:ARE) has been assigned a consensus rating of “Moderate Buy” from the eleven brokerages that are covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is C$55.08.

Several research firms recently commented on ARE. Jefferies Financial Group increased their target price on shares of Aecon Group from C$49.00 to C$59.00 in a report on Monday, April 27th. Raymond James Financial upgraded shares of 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 report on Friday, July 3rd. ATB Cormark Capital Markets raised their price objective on Aecon Group from C$42.00 to C$49.00 and gave the company a “sector perform” rating in a research note on Thursday, April 30th. Desjardins raised 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. Finally, National Bank Financial lifted their price objective on Aecon Group from C$59.00 to C$65.00 and gave the stock an “outperform” rating in a report on Monday, July 13th.

Aecon Group Stock Up 3.8%

Shares of TSE ARE opened at C$52.31 on Friday. Aecon Group has a one year low of C$17.06 and a one year high of C$57.72. 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 simple moving average is C$46.97 and its two-hundred day simple moving average is C$42.64. The stock has a market capitalization of C$3.58 billion, a P/E ratio of 95.11, a PEG ratio of 18.18 and a beta of 1.38.

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

Aecon Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 3rd. Investors of record on Friday, July 3rd were given a dividend of $0.1925 per share. This represents a $0.77 annualized dividend and a yield of 1.5%. The ex-dividend date was Tuesday, June 23rd. Aecon Group’s dividend payout ratio (DPR) is presently 138.64%.

Insiders Place Their Bets

In other news, insider Ernest Chan sold 521 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was 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 owned 11,003 shares of the company’s stock, valued at approximately C$606,155.27. This represents a 4.52% decrease in their ownership of the stock. Also, insider Timothy John Murphy sold 2,930 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of C$52.31, for a total value of C$153,268.30. Following the sale, the insider directly owned 4,801 shares of the company’s stock, valued at approximately C$251,140.31. This trade represents a 37.90% decrease in their position. Insiders have sold 23,451 shares of company stock valued at $1,177,370 in the last ninety days. Company insiders own 0.82% of the company’s stock.

About Aecon Group

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.