Aecon Group (TSE:ARE) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Aecon Group Inc. (TSE:ARE)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$22.46 and traded as high as C$26.04. Aecon Group shares last traded at C$25.00, with a volume of 408,978 shares changing hands.

Wall Street Analysts Forecast Growth

ARE has been the subject of a number of research reports. BMO Capital Markets increased their price target on shares of Aecon Group from C$27.00 to C$29.00 in a report on Friday, December 6th. Canaccord Genuity Group increased their price target on shares of Aecon Group from C$28.00 to C$33.00 in a report on Monday, November 4th. CIBC raised their price objective on shares of Aecon Group from C$29.00 to C$35.00 in a report on Friday, December 13th. Raymond James raised their price objective on shares of Aecon Group from C$24.00 to C$28.00 in a report on Tuesday, November 5th. Finally, National Bank Financial downgraded shares of Aecon Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Aecon Group has a consensus rating of “Moderate Buy” and a consensus target price of C$27.53.

Aecon Group Stock Down 2.9 %

The firm has a market cap of C$1.56 billion, a price-to-earnings ratio of -92.59, a PEG 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. The business’s 50-day moving average is C$26.82 and its 200-day moving average is C$22.46.

Aecon Group (TSE:ARE) last announced its earnings results on Thursday, October 31st. The company reported C$0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.78 by C$0.08. Aecon Group had a net margin of 0.32% and a return on equity of 1.40%. During the same quarter in the previous year, the company posted $0.33 earnings per share. On average, equities analysts predict that Aecon Group Inc. will post 1.3793321 EPS for the current year.

Aecon Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, January 3rd were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend was Tuesday, December 24th. Aecon Group’s payout ratio is presently -281.48%.

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.