Aecon Group (TSE:ARE) Downgraded by BMO Capital Markets

BMO Capital Markets cut shares of Aecon Group (TSE:ARE) from an outperform rating to a market perform rating in a report issued on Tuesday morning, Marketbeat.com reports. They currently have C$17.50 price objective on the stock, down from their previous price objective of C$18.50.

Several other brokerages have also issued reports on ARE. ATB Capital boosted their price objective on shares of Aecon Group from C$19.50 to C$21.00 and gave the company an outperform rating in a report on Friday, April 26th. Raymond James boosted their price objective on shares of Aecon Group from C$16.00 to C$17.00 and gave the company a market perform rating in a report on Friday, April 26th. Paradigm Capital lifted their target price on Aecon Group from C$14.00 to C$17.80 and gave the company a hold rating in a research report on Friday, April 26th. Desjardins dropped 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 report on Tuesday. Finally, Royal Bank of Canada dropped their target price on Aecon Group from C$16.00 to C$13.00 and set a sector perform rating for the company in a research report on Tuesday. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of C$18.32.

Aecon Group Stock Up 0.6 %

TSE ARE opened at C$14.59 on Tuesday. Aecon Group has a 52 week low of C$8.42 and a 52 week high of C$17.40. The company has a quick ratio of 1.27, a current ratio of 1.50 and a debt-to-equity ratio of 28.71. The business’s fifty day simple moving average is C$16.59 and its 200-day simple moving average is C$15.49. The firm has a market cap of C$908.52 million, a PE ratio of 6.79, a P/E/G ratio of 18.18 and a beta of 1.19.

Aecon Group (TSE:ARE) last issued its quarterly earnings data on Wednesday, April 24th. The company reported C($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of C($0.14) by C$0.04. The firm had revenue of C$846.59 million for the quarter, compared to analyst estimates of C$1.03 billion. Aecon Group had a net margin of 3.77% and a return on equity of 16.62%. As a group, equities analysts anticipate that Aecon Group will post 0.9104803 earnings per share for the current year.

Aecon Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Wednesday, July 3rd were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.21%. The ex-dividend date was Friday, June 21st. Aecon Group’s dividend payout ratio is presently 35.35%.

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.