Aecon Group Inc. (ARE) to Issue Quarterly Dividend of $0.19 on October 2nd

Aecon Group Inc. (TSE:ARE) declared a quarterly dividend on Friday, September 20th, Zacks reports. Stockholders of record on Wednesday, October 2nd will be paid a dividend of 0.19 per share on Wednesday, October 2nd. This represents a $0.76 annualized dividend and a dividend yield of ∞. The ex-dividend date of this dividend is Friday, September 20th.

Aecon Group Price Performance

Aecon Group has a 12 month low of C$8.42 and a 12 month high of C$20.22. The company has a market capitalization of C$1.24 billion, a P/E ratio of -72.93, a price-to-earnings-growth ratio of 18.18 and a beta of 1.12. The company has a debt-to-equity ratio of 32.86, a quick ratio of 1.27 and a current ratio of 1.35. The business’s fifty day simple moving average is C$16.93 and its 200 day simple moving average is C$16.68.

Aecon Group (TSE:ARE) last posted its quarterly earnings results on Wednesday, July 24th. The company reported C($1.99) earnings per share (EPS) for the quarter, topping the consensus estimate of C($2.53) by C$0.54. The business had revenue of C$853.80 million for the quarter, compared to analyst estimates of C$1.01 billion. Aecon Group had a return on equity of 1.40% and a net margin of 0.32%. As a group, analysts expect that Aecon Group will post 1.3804945 EPS for the current year.

Insider Transactions at Aecon Group

In other news, Senior Officer Timothy John Murphy bought 4,244 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were purchased at an average price of C$17.66 per share, for a total transaction of C$74,969.84. In other Aecon Group news, Director Scott Stewart acquired 10,000 shares of Aecon Group stock in a transaction dated Monday, July 29th. The stock was bought at an average cost of C$16.54 per share, for a total transaction of C$165,380.00. Also, Senior Officer Timothy John Murphy bought 4,244 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was bought at an average cost of C$17.66 per share, for a total transaction of C$74,969.84. Insiders bought 16,549 shares of company stock valued at $274,762 over the last three months. Company insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. TD Securities lowered their price target on Aecon Group from C$17.00 to C$16.00 and set a “hold” rating for the company in a research note on Friday, July 26th. Desjardins lowered their target price on shares of Aecon Group from C$20.00 to C$18.00 and set a “buy” rating for the company in a research note on Tuesday, July 2nd. BMO Capital Markets reduced their price target on shares of Aecon Group from C$17.50 to C$16.50 in a research report on Wednesday, July 24th. National Bank Financial upgraded shares of Aecon Group from a “hold” rating to a “strong-buy” rating in a research report on Sunday, July 28th. Finally, Royal Bank of Canada raised their price objective on Aecon Group from C$13.00 to C$17.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Aecon Group currently has a consensus rating of “Moderate Buy” and a consensus target price of C$20.80.

Aecon Group Company Profile

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.