Aecon Group (TSE:ARE) Price Target Raised to C$31.00

Aecon Group (TSE:ARE) had its price objective boosted by Stifel Nicolaus from C$30.00 to C$31.00 in a report issued on Friday, BayStreet.CA reports.

A number of other research analysts also recently commented on ARE. Canaccord Genuity Group boosted their price target on Aecon Group from C$25.00 to C$28.00 and gave the company a buy rating in a research note on Monday, September 23rd. ATB Capital boosted their target price on shares of Aecon Group from C$21.00 to C$29.00 and gave the company an outperform rating in a research report on Monday, September 16th. National Bankshares upgraded shares of Aecon Group from a sector perform rating to an outperform rating and increased their price target for the stock from C$17.00 to C$20.50 in a research report on Monday, July 29th. CIBC lowered their price objective on shares of Aecon Group from C$23.00 to C$22.00 in a research report on Thursday, July 11th. Finally, Desjardins cut their target price on 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. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of C$21.16.

Aecon Group Stock Performance

Shares of TSE:ARE opened at C$21.79 on Friday. Aecon Group has a 12-month low of C$8.42 and a 12-month high of C$22.06. The company’s 50 day moving average price is C$18.52 and its two-hundred day moving average price is C$17.14. The firm has a market cap of C$1.36 billion, a PE ratio of -80.70, a PEG ratio of 18.18 and a beta of 1.13. The company has a quick ratio of 1.27, a current ratio of 1.35 and a debt-to-equity ratio of 32.86.

Aecon Group (TSE:ARE) last issued its quarterly earnings results on Wednesday, July 24th. The company reported C($1.99) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C($2.53) by C$0.54. The business had revenue of C$853.80 million for the quarter, compared to the consensus estimate of C$1.01 billion. Aecon Group had a return on equity of 1.40% and a net margin of 0.32%. Equities research analysts predict that Aecon Group will post 1.3793321 earnings per share for the current year.

Aecon Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, October 2nd were given a $0.19 dividend. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.76 annualized dividend and a yield of 3.49%. Aecon Group’s dividend payout ratio is presently -281.48%.

Insiders Place Their Bets

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

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.