Aecon Group Inc. (TSE:ARE) Receives Average Recommendation of “Hold” from Brokerages

Shares of Aecon Group Inc. (TSE:ARE) have earned a consensus recommendation of “Hold” from the eleven research firms that are presently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is C$53.33.

Several equities analysts have commented on the stock. Raymond James Financial lowered their price objective on shares of Aecon Group from C$54.00 to C$52.00 and set a “market perform” rating for the company in a research report on Friday. Desjardins boosted their target price on shares of Aecon Group from C$52.00 to C$55.00 and gave the company a “hold” rating in a research note on Friday. Canaccord Genuity Group raised their price objective on Aecon Group from C$52.00 to C$56.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. ATB Cormark Capital Markets upped their target price on Aecon Group from C$42.00 to C$49.00 and gave the stock a “sector perform” rating in a report on Thursday, April 30th. Finally, National Bank Financial raised their target price on shares of Aecon Group from C$48.00 to C$59.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th.

Insiders Place Their Bets

In other Aecon Group news, Director John Michael Beck sold 20,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of C$49.77, for a total value of C$995,400.00. Following the completion of the sale, the director owned 201,417 shares in the company, valued at approximately C$10,024,524.09. This represents a 9.03% decrease in their position. Also, insider Ernest Chan sold 521 shares of Aecon Group stock in a transaction dated Friday, May 8th. The stock was sold at an average price of C$55.09, for a total transaction of C$28,701.89. Following the transaction, the insider directly owned 11,003 shares in the company, valued at C$606,155.27. This trade represents a 4.52% decrease in their ownership of the stock. In the last three months, insiders sold 23,451 shares of company stock worth $1,177,370. Corporate insiders own 0.82% of the company’s stock.

Aecon Group Stock Performance

Shares of TSE ARE opened at C$44.06 on Monday. The firm’s 50-day moving average price is C$46.96 and its 200-day moving average price is C$40.43. The company has a market cap of C$3.02 billion, a PE ratio of 80.11, a PEG ratio of 18.18 and a beta of 1.36. Aecon Group has a 52-week low of C$17.06 and a 52-week high of C$57.72. The company has a quick ratio of 1.27, a current ratio of 1.16 and a debt-to-equity ratio of 42.80.

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

Aecon Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 3rd. Shareholders of record on Friday, July 3rd will be issued a $0.1925 dividend. This represents a $0.77 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, June 23rd. Aecon Group’s dividend payout ratio (DPR) is presently 138.64%.

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.