Aecon Group (TSE:ARE) Given New C$30.00 Price Target at CIBC

Aecon Group (TSE:ARE) had its price target cut by CIBC from C$33.00 to C$30.00 in a research report report published on Friday morning,BayStreet.CA reports.

Other equities analysts have also recently issued research reports about the company. TD Securities cut their price objective on Aecon Group from C$35.00 to C$30.00 and set a “buy” rating on the stock in a report on Friday. National Bankshares cut Aecon Group from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from C$28.00 to C$30.00 in a report on Wednesday, December 4th. Desjardins cut their price objective on Aecon Group from C$32.00 to C$29.00 and set a “buy” rating on the stock in a report on Friday. BMO Capital Markets lifted their price objective on Aecon Group from C$27.00 to C$29.00 in a report on Friday, December 6th. Finally, National Bank Financial cut Aecon Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Aecon Group currently has a consensus rating of “Moderate Buy” and an average price target of C$24.98.

Aecon Group Trading Down 3.9 %

TSE:ARE opened at C$17.96 on Friday. Aecon Group has a fifty-two week low of C$13.03 and a fifty-two week high of C$29.70. The company has a debt-to-equity ratio of 32.84, a current ratio of 1.19 and a quick ratio of 1.27. The stock has a market capitalization of C$1.14 billion, a PE ratio of -17.67, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13. The business’s 50-day simple moving average is C$24.38 and its 200-day simple moving average is C$23.88.

Aecon Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, January 3rd were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend was Tuesday, December 24th. Aecon Group’s dividend payout ratio is currently -74.76%.

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.