CIBC Trims Aecon Group (TSE:ARE) Target Price to C$22.00

Aecon Group (TSE:ARE) had its target price cut by CIBC from C$23.00 to C$22.00 in a research report sent to investors on Thursday morning, BayStreet.CA reports.

Several other research analysts have also recently weighed in on ARE. TD Securities decreased their price objective on shares of Aecon Group from C$18.00 to C$17.00 and set a hold rating on the stock in a research report on Tuesday, July 2nd. Canaccord Genuity Group decreased their price objective on shares of Aecon Group from C$26.00 to C$25.00 and set a buy rating on the stock in a research report on Wednesday, July 3rd. BMO Capital Markets lowered Aecon Group from an outperform rating to a market perform rating and cut their target price for the stock from C$18.50 to C$17.50 in a research note on Tuesday, July 2nd. Royal Bank of Canada cut their target price on Aecon Group from C$16.00 to C$13.00 and set a sector perform rating for the company in a research note on Tuesday, July 2nd. Finally, ATB Capital upped their target price on Aecon Group from C$19.50 to C$21.00 and gave the stock an outperform rating in a research note on Friday, April 26th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Aecon Group currently has an average rating of Hold and an average target price of C$18.23.

Aecon Group Price Performance

ARE opened at C$14.72 on Thursday. The company has a market capitalization of C$916.61 million, a price-to-earnings ratio of 6.85, a PEG ratio of 18.18 and a beta of 1.19. The company has a quick ratio of 1.27, a current ratio of 1.50 and a debt-to-equity ratio of 28.71. The firm has a 50-day moving average price of C$16.30 and a 200-day moving average price of C$15.61. Aecon Group has a twelve month low of C$8.42 and a twelve month high of C$17.40.

Aecon Group (TSE:ARE) last posted its earnings results on Wednesday, April 24th. The company reported C($0.10) earnings per share for the quarter, topping the consensus estimate of C($0.14) by C$0.04. The firm had revenue of C$846.59 million during the quarter, compared to the consensus estimate of C$1.03 billion. Aecon Group had a net margin of 3.77% and a return on equity of 16.62%. Equities analysts expect that Aecon Group will post 0.9104803 EPS for the current year.

Aecon Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 3rd. Investors of record on Wednesday, July 3rd were given a dividend of $0.19 per share. The ex-dividend date was Friday, June 21st. This represents a $0.76 annualized dividend and a dividend yield of 5.16%. Aecon Group’s dividend payout ratio (DPR) is presently 35.35%.

About Aecon Group

Aecon Group Inc, together with its subsidiaries, provide construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally. It operates through two segments, Construction and Concessions. The Construction segment focuses on civil infrastructure, urban transportation solutions, nuclear power infrastructure, utility infrastructure, and conventional industrial infrastructure market sectors.