CIBC Cuts Aecon Group (TSE:ARE) Price Target to C$33.00

Aecon Group (TSE:ARE) had its price target reduced by CIBC from C$35.00 to C$33.00 in a report released on Monday,BayStreet.CA reports.

A number of other equities analysts have also issued reports on the stock. BMO Capital Markets upped their target price on shares of Aecon Group from C$27.00 to C$29.00 in a research report on Friday, December 6th. National Bank Financial downgraded Aecon Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Canaccord Genuity Group lifted their target price on Aecon Group from C$28.00 to C$33.00 in a research note on Monday, November 4th. Raymond James upped their price target on Aecon Group from C$24.00 to C$28.00 in a research note on Tuesday, November 5th. Finally, TD Securities upgraded Aecon Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from C$23.00 to C$35.00 in a research report on Monday, November 4th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$27.35.

Aecon Group Stock Up 2.7 %

Shares of TSE:ARE opened at C$24.36 on Monday. The company has a market capitalization of C$1.52 billion, a PE ratio of -90.22, a P/E/G ratio of 18.18 and a beta of 1.13. The company has a debt-to-equity ratio of 32.86, a quick ratio of 1.27 and a current ratio of 1.35. Aecon Group has a 52 week low of C$13.03 and a 52 week high of C$29.70. The company’s fifty day moving average is C$26.24 and its 200-day moving average is C$22.87.

Aecon Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, January 3rd were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend was Tuesday, December 24th. Aecon Group’s dividend payout ratio is currently -281.48%.

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.