Aecon Group (TSE:ARE) Sets New 52-Week High at $20.23

Aecon Group Inc. (TSE:ARE) shares hit a new 52-week high on Wednesday . The company traded as high as C$20.23 and last traded at C$20.18, with a volume of 192091 shares. The stock had previously closed at C$19.89.

Analyst Ratings Changes

ARE has been the topic of several recent analyst reports. Desjardins cut their target price on shares of Aecon Group from C$20.00 to C$18.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. BMO Capital Markets decreased their price objective on shares of Aecon Group from C$17.50 to C$16.50 in a research report on Wednesday, July 24th. Royal Bank of Canada increased their target price on shares of Aecon Group from C$13.00 to C$17.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. National Bankshares upgraded Aecon Group from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from C$17.00 to C$20.50 in a report on Monday, July 29th. Finally, ATB Capital upped their target price on Aecon Group from C$21.00 to C$29.00 and gave the company an “outperform” rating in a report on Monday. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$20.80.

Aecon Group Stock Performance

The stock has a market capitalization of C$1.25 billion, a PE ratio of -72.93, a price-to-earnings-growth ratio of 18.18 and a beta of 1.12. The business’s fifty day moving average is C$16.93 and its two-hundred day moving average is C$16.68. The company has a quick ratio of 1.27, a current ratio of 1.35 and a debt-to-equity ratio of 32.86.

Aecon Group (TSE:ARE) last posted its earnings results on Wednesday, July 24th. The company reported C($1.99) earnings per share for the quarter, topping analysts’ consensus estimates of C($2.53) by C$0.54. Aecon Group had a net margin of 0.32% and a return on equity of 1.40%. The firm had revenue of C$853.80 million for the quarter, compared to the consensus estimate of C$1.01 billion. As a group, research analysts anticipate that Aecon Group Inc. will post 1.3804945 EPS for the current fiscal year.

Aecon Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, October 2nd will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Friday, September 20th. Aecon Group’s payout ratio is -281.48%.

Insider Buying and Selling

In other news, Director Scott Stewart acquired 10,000 shares of Aecon Group stock in a transaction that occurred on Monday, July 29th. The shares were bought at an average cost of C$16.54 per share, with a total value of C$165,380.00. In related news, Senior Officer Timothy John Murphy bought 4,244 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were acquired at an average price of C$17.66 per share, with a total value of C$74,969.84. Also, Director Scott Stewart bought 10,000 shares of Aecon Group stock in a transaction on Monday, July 29th. The stock was purchased at an average price of C$16.54 per share, with a total value of C$165,380.00. Insiders purchased a total of 16,549 shares of company stock worth $274,762 over the last three months. 0.82% of the stock is owned by insiders.

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.