Aecon Group (TSE:ARE) Issues Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Aecon Group (TSE:ARE) issued its quarterly earnings data on Wednesday. The company reported C($0.10) EPS for the quarter, beating the consensus estimate of C($0.14) by C$0.04, reports. The business had revenue of C$846.59 million during the quarter, compared to the consensus estimate of C$1.03 billion. Aecon Group had a net margin of 3.49% and a return on equity of 16.04%.

Aecon Group Price Performance

ARE opened at C$17.11 on Friday. The company has a market capitalization of C$1.07 billion, a price-to-earnings ratio of 8.15, a PEG ratio of 18.18 and a beta of 1.16. The company has a quick ratio of 1.27, a current ratio of 1.42 and a debt-to-equity ratio of 39.29. The firm has a 50-day moving average price of C$16.02 and a 200-day moving average price of C$13.51. Aecon Group has a twelve month low of C$8.42 and a twelve month high of C$17.40.

Aecon Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Friday, March 22nd were paid a $0.19 dividend. This is an increase from Aecon Group’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $0.76 annualized dividend and a dividend yield of 4.44%. Aecon Group’s dividend payout ratio (DPR) is presently 36.19%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Canaccord Genuity Group upped their price target on shares of Aecon Group from C$14.00 to C$26.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Stifel Nicolaus upped their price target on shares of Aecon Group from C$16.50 to C$17.00 and gave the company a “hold” rating in a research report on Friday, April 19th. National Bankshares increased their price objective on shares of Aecon Group from C$10.50 to C$15.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 7th. ATB Capital increased their price objective on shares of Aecon Group from C$15.25 to C$19.50 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. Finally, Raymond James increased their price objective on shares of Aecon Group from C$14.00 to C$16.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$18.23.

Insider Transactions at Aecon Group

In other news, Senior Officer Martina Doyle sold 2,265 shares of Aecon Group stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of C$16.42, for a total value of C$37,191.30. In related news, Senior Officer Martina Doyle sold 2,265 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of C$16.42, for a total transaction of C$37,191.30. Also, Senior Officer Adam Robert Borgatti acquired 4,231 shares of Aecon Group stock in a transaction that occurred on Tuesday, March 26th. The shares were purchased at an average cost of C$13.07 per share, with a total value of C$55,299.17. Corporate insiders own 1.72% of the company’s stock.

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.