Aecon Group Inc. (TSE:ARE) Receives C$55.08 Consensus Price Target from Analysts

Shares of Aecon Group Inc. (TSE:ARE) have been assigned an average recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is C$55.08.

ARE has been the topic of several research analyst reports. TD dropped their price target on Aecon Group from C$62.00 to C$61.00 and set a “buy” rating on the stock in a research note on Friday, June 26th. Canaccord Genuity Group raised their price objective on Aecon Group from C$56.00 to C$57.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Desjardins upped their target price on Aecon Group from C$55.00 to C$61.00 and gave the company a “hold” rating in a research report on Monday, July 6th. National Bank Financial increased their price target on shares of Aecon Group from C$59.00 to C$65.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Finally, Raymond James Financial raised shares of Aecon Group from a “hold” rating to a “moderate buy” rating and raised their price target for the stock from C$52.00 to C$60.00 in a research report on Friday, July 3rd.

Insider Buying and Selling at Aecon Group

In other Aecon Group news, insider Steven Neil Nackan sold 4,500 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of C$45.55, for a total value of C$204,975.00. Following the sale, the insider directly owned 8,035 shares of the company’s stock, valued at approximately C$365,994.25. This represents a 35.90% decrease in their ownership of the stock. Also, Director Scott Stewart purchased 4,455 shares of the business’s stock in a transaction on Friday, August 28th. The shares were bought at an average cost of C$44.89 per share, for a total transaction of C$199,984.95. Following the completion of the transaction, the director directly owned 24,484 shares in the company, valued at C$1,099,086.76. This trade represents a 22.24% increase in their position. In the last three months, insiders have sold 7,500 shares of company stock valued at $343,875. 0.82% of the stock is currently owned by corporate insiders.

Aecon Group Trading Down 3.6%

TSE ARE opened at C$45.69 on Friday. Aecon Group has a 12-month low of C$21.04 and a 12-month high of C$57.72. The company has a fifty day simple moving average of C$47.37 and a two-hundred day simple moving average of C$45.56. The company has a current ratio of 1.08, a quick ratio of 1.27 and a debt-to-equity ratio of 84.23. The stock has a market cap of C$3.13 billion, a P/E ratio of -48.09, a P/E/G ratio of 18.18 and a beta of 1.39.

Aecon Group (TSE:ARE) last announced its quarterly earnings data on Thursday, July 30th. The company reported C$0.33 earnings per share for the quarter. The firm had revenue of C$1.63 billion for the quarter. Aecon Group had a negative net margin of 1.10% and a negative return on equity of 6.76%. On average, analysts forecast that Aecon Group will post 1.3793321 earnings per share for the current year.

Aecon Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 3rd. Stockholders of record on Friday, July 3rd were paid a $0.1925 dividend. The ex-dividend date was Tuesday, June 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 -80.53%.

About Aecon Group

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.