BMO Capital Markets downgraded shares of Aecon Group (TSE:ARE – Free Report) from an outperform rating to a market perform rating in a research report released on Tuesday, BayStreet.CA reports. The brokerage currently has C$17.50 price target on the stock, down from their previous price target of C$18.50.
Other research analysts have also recently issued research reports about the stock. Raymond James increased their target price on shares of Aecon Group from C$16.00 to C$17.00 and gave the stock a market perform rating in a report on Friday, April 26th. ATB Capital increased their target price on shares of Aecon Group from C$19.50 to C$21.00 and gave the stock an outperform rating in a report on Friday, April 26th. Stifel Nicolaus reduced their target price on shares of Aecon Group from C$18.25 to C$16.25 and set a hold rating for the company in a report on Tuesday. Desjardins cut their price target on shares of Aecon Group from C$20.00 to C$18.00 and set a buy rating for the company in a research note on Tuesday. Finally, Canaccord Genuity Group increased their price target on shares of Aecon Group from C$14.00 to C$26.00 and gave the company a buy rating in a research note on Thursday, March 7th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of C$18.38.
Read Our Latest Stock Analysis on ARE
Aecon Group Stock Down 17.5 %
Aecon Group (TSE:ARE – Get Free Report) last announced its earnings results on Wednesday, April 24th. The company reported C($0.10) EPS for the quarter, topping the consensus estimate of C($0.14) by C$0.04. Aecon Group had a net margin of 3.77% and a return on equity of 16.62%. The business had revenue of C$846.59 million during the quarter, compared to analysts’ expectations of C$1.03 billion. As a group, equities research analysts predict that Aecon Group will post 0.9104803 earnings per share for the current fiscal year.
Aecon Group Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Wednesday, July 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.42%. The ex-dividend date is 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.
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