Aecon Group (TSE:ARE) Shares Down 11.9% – Here’s What Happened

Aecon Group Inc. (TSE:ARE) shares traded down 11.9% during trading on Thursday . The stock traded as low as C$19.25 and last traded at C$19.61. 155,384 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 376,128 shares. The stock had previously closed at C$22.27.

Wall Street Analyst Weigh In

Several analysts have commented on the company. CIBC dropped their price objective on Aecon Group from C$35.00 to C$33.00 in a report on Monday, February 3rd. National Bank Financial cut Aecon Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. BMO Capital Markets boosted their target price on Aecon Group from C$27.00 to C$29.00 in a research note on Friday, December 6th. Finally, National Bankshares cut Aecon Group from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from C$28.00 to C$30.00 in a research note on Wednesday, December 4th. Six research 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$27.35.

Aecon Group Trading Down 16.5 %

The firm has a market cap of C$1.18 billion, a price-to-earnings ratio of -18.30, a PEG ratio of 18.18 and a beta of 1.13. The company has a debt-to-equity ratio of 32.84, a quick ratio of 1.27 and a current ratio of 1.19. The business has a fifty day moving average of C$24.55 and a two-hundred day moving average of C$23.91.

Aecon Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, January 3rd were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend was Tuesday, December 24th. Aecon Group’s dividend payout ratio is currently -74.76%.

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.