Aecon Group (TSE:ARE) Price Target Increased to C$29.00 by Analysts at ATB Capital

Aecon Group (TSE:ARE) had its price objective raised by ATB Capital from C$21.00 to C$29.00 in a research note published on Monday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Other analysts have also recently issued reports about the stock. National Bank Financial raised shares of Aecon Group from a hold rating to a strong-buy rating in a research report on Sunday, July 28th. Stifel Nicolaus upped their target price on Aecon Group from C$25.00 to C$30.00 in a research report on Monday, September 9th. BMO Capital Markets dropped their target price on Aecon Group from C$17.50 to C$16.50 in a report on Wednesday, July 24th. Canaccord Genuity Group decreased their price target on Aecon Group from C$26.00 to C$25.00 and set a buy rating for the company in a report on Wednesday, July 3rd. Finally, Desjardins lowered their price objective on shares of Aecon Group from C$20.00 to C$18.00 and set a buy rating for the company in a research report on Tuesday, July 2nd. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of C$20.80.

Aecon Group Stock Performance

Shares of ARE stock opened at C$20.26 on Monday. 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 firm has a market capitalization of C$1.27 billion, a price-to-earnings ratio of -75.04, a price-to-earnings-growth ratio of 18.18 and a beta of 1.12. Aecon Group has a one year low of C$8.42 and a one year high of C$20.46. The company has a 50 day moving average price of C$17.16 and a 200 day moving average price of C$16.76.

Aecon Group (TSE:ARE) last issued its 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. Aecon Group had a return on equity of 1.40% and a net margin of 0.32%. The business had revenue of C$853.80 million during the quarter, compared to analysts’ expectations of C$1.01 billion. Sell-side analysts anticipate that Aecon Group will post 1.3804945 EPS for the current year.

Aecon Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, October 2nd will be issued a $0.19 dividend. The ex-dividend date is Friday, September 20th. This represents a $0.76 annualized dividend and a yield of 3.75%. Aecon Group’s dividend payout ratio is presently -281.48%.

Insiders Place Their Bets

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

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.