Aecon Group (TSE:ARE) Announces Quarterly Earnings Results

Aecon Group (TSE:ARE) issued its quarterly earnings results on Thursday. The company reported C$0.33 earnings per share (EPS) for the quarter, FiscalAI reports. Aecon Group had a return on equity of 3.71% and a net margin of 0.62%.The business had revenue of C$1.63 billion for the quarter.

Aecon Group Stock Performance

ARE traded up C$0.37 on Thursday, reaching C$44.78. 819,766 shares of the stock were exchanged, compared to its average volume of 478,814. The company’s 50-day moving average price is C$47.00 and its 200 day moving average price is C$43.40. Aecon Group has a fifty-two week low of C$17.06 and a fifty-two week high of C$57.72. The company has a debt-to-equity ratio of 42.80, a current ratio of 1.16 and a quick ratio of 1.27. The firm has a market capitalization of C$3.07 billion, a PE ratio of 81.42, a PEG ratio of 18.18 and a beta of 1.38.

Aecon Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 3rd. Shareholders of record on Friday, July 3rd were given a dividend of $0.1925 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.77 dividend on an annualized basis and a yield of 1.7%. Aecon Group’s payout ratio is currently 138.64%.

Analysts Set New Price Targets

Several brokerages recently weighed in on ARE. Canadian Imperial Bank of Commerce boosted their target price on Aecon Group from C$45.00 to C$48.00 in a research note on Thursday, April 9th. Royal Bank Of Canada raised their price target 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. BMO Capital Markets boosted their price target on Aecon Group from C$45.00 to C$49.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 29th. ATB Cormark Capital Markets boosted their price target on Aecon Group from C$42.00 to C$49.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 30th. Finally, TD cut their price objective on shares of Aecon Group from C$62.00 to C$61.00 and set a “buy” rating on the stock in a report on Friday, June 26th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$55.08.

Insider Buying and Selling at Aecon Group

In other news, insider Ernest Chan sold 521 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of C$55.09, for a total value of C$28,701.89. Following the completion of 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. Also, insider Timothy John Murphy sold 2,930 shares of Aecon Group stock in a transaction dated Monday, May 11th. The stock was sold at an average price of C$52.31, for a total value of C$153,268.30. Following the sale, the insider directly owned 4,801 shares of the company’s stock, valued at C$251,140.31. This trade represents a 37.90% decrease in their position. In the last 90 days, insiders have sold 23,451 shares of company stock worth $1,177,370. 0.82% of the stock is currently owned by insiders.

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.