Brokerages Set Aecon Group Inc. (TSE:ARE) Target Price at C$52.29

Aecon Group Inc. (TSE:ARE) has received an average rating of “Hold” from the eleven research firms that are currently covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is C$52.29.

A number of equities analysts recently issued reports on the company. Royal Bank Of Canada increased their price objective on Aecon Group from C$44.00 to C$49.00 and gave the stock a “sector perform” rating in a report on Thursday, April 30th. Canadian Imperial Bank of Commerce increased their price objective on Aecon Group from C$45.00 to C$48.00 in a report on Thursday, April 9th. TD upped their target price on Aecon Group from C$49.00 to C$59.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. BMO Capital Markets upped their target price on Aecon Group from C$45.00 to C$49.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 29th. Finally, Jefferies Financial Group upped their target price on Aecon Group from C$49.00 to C$59.00 in a research report on Monday, April 27th.

Aecon Group Stock Performance

Shares of ARE stock opened at C$44.58 on Thursday. Aecon Group has a 12-month low of C$17.06 and a 12-month high of C$57.72. The firm has a market capitalization of C$3.05 billion, a price-to-earnings ratio of 81.05, a price-to-earnings-growth ratio of 18.18 and a beta of 1.36. The business has a 50 day simple moving average of C$46.72 and a 200 day simple moving average of C$38.39. The company has a debt-to-equity ratio of 42.80, a current ratio of 1.16 and a quick ratio of 1.27.

Aecon Group (TSE:ARE) last issued its quarterly earnings data on Tuesday, April 28th. The company reported C($0.21) earnings per share (EPS) for the quarter. Aecon Group had a return on equity of 3.71% and a net margin of 0.62%.The business had revenue of C$1.26 billion during the quarter. On average, equities research analysts anticipate that Aecon Group will post 1.3793321 EPS for the current year.

Aecon Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Thursday, April 2nd were issued a $0.1925 dividend. The ex-dividend date was Monday, March 23rd. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.7%. Aecon Group’s dividend payout ratio is presently 138.64%.

Insiders Place Their Bets

In other news, Director Eric Stuart Rosenfeld sold 125,000 shares of the stock in a transaction on Friday, March 27th. The stock was sold at an average price of C$41.64, for a total value of C$5,205,000.00. Following the completion of the sale, the director owned 184,200 shares in the company, valued at C$7,670,088. This represents a 40.43% decrease in their ownership of the stock. Also, insider Ernest Chan sold 521 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of C$55.09, for a total value of C$28,701.89. Following the completion of the sale, the insider owned 11,003 shares of the company’s stock, valued at C$606,155.27. The trade was a 4.52% decrease in their position. Insiders have sold 148,451 shares of company stock worth $6,382,370 over the last three months. Company insiders own 0.82% of the company’s stock.

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. Aecon generates the majority of its revenue from the Construction segment.