Aecon Group (TSE:ARE) Shares Down 15.7% on Analyst Downgrade

Shares of Aecon Group Inc. (TSE:ARE) dropped 15.7% during trading on Tuesday after Canaccord Genuity Group lowered their price target on the stock from C$26.00 to C$25.00. Canaccord Genuity Group currently has a buy rating on the stock. Aecon Group traded as low as C$13.84 and last traded at C$14.31. Approximately 524,191 shares changed hands during mid-day trading, an increase of 78% from the average daily volume of 293,976 shares. The stock had previously closed at C$16.98.

ARE has been the subject of a number of other reports. CIBC lifted their target price on Aecon Group from C$22.00 to C$23.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Paradigm Capital boosted their price target on shares of Aecon Group from C$14.00 to C$17.80 and gave the company a “hold” rating in a report on Friday, April 26th. BMO Capital Markets cut shares of Aecon Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from C$18.50 to C$17.50 in a report on Tuesday. TD Securities reduced their target price on shares of Aecon Group from C$18.00 to C$17.00 and set a “hold” rating for the company in a research note on Tuesday. Finally, National Bankshares raised their price target on shares of Aecon Group from C$15.00 to C$18.00 and gave the company a “sector perform” rating in a research note on Friday, April 26th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$18.32.

Aecon Group Stock Up 3.5 %

The company has a debt-to-equity ratio of 28.71, a current ratio of 1.50 and a quick ratio of 1.27. The stock has a market capitalization of C$902.92 million, a P/E ratio of 6.74, a PEG ratio of 18.18 and a beta of 1.19. The stock’s fifty day moving average is C$16.64 and its two-hundred day moving average is C$15.49.

Aecon Group (TSE:ARE) last released its quarterly earnings data on Wednesday, April 24th. The company reported C($0.10) earnings per share for the quarter, topping the consensus estimate of C($0.14) by C$0.04. The business had revenue of C$846.59 million during the quarter, compared to analyst estimates of C$1.03 billion. Aecon Group had a return on equity of 16.62% and a net margin of 3.77%. As a group, research analysts predict that Aecon Group Inc. will post 0.9104803 earnings per share for the current fiscal year.

Aecon Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 3rd. Investors of record on Wednesday, July 3rd were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 5.24%. The ex-dividend date was Friday, June 21st. Aecon Group’s dividend payout ratio is 35.35%.

Aecon Group Company Profile

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.