Aecon Group (TSE:ARE) Hits New 52-Week High – Here’s What Happened

Shares of Aecon Group Inc. (TSE:ARE) reached a new 52-week high on Wednesday . The company traded as high as C$22.06 and last traded at C$22.06, with a volume of 158161 shares trading hands. The stock had previously closed at C$21.83.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Canaccord Genuity Group lifted their target price on Aecon Group from C$25.00 to C$28.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Stifel Nicolaus raised their price objective on Aecon Group from C$30.00 to C$31.00 in a report on Friday, October 4th. National Bankshares upgraded Aecon Group from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from C$17.00 to C$20.50 in a report on Monday, July 29th. Stifel Canada upgraded shares of Aecon Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 25th. Finally, BMO Capital Markets reduced their target price on shares of Aecon Group from C$17.50 to C$16.50 in a research note on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$21.16.

Aecon Group Price Performance

The company has a market capitalization of C$1.38 billion, a P/E ratio of -80.85, a P/E/G ratio of 18.18 and a beta of 1.13. The firm has a fifty day moving average of C$18.68 and a 200 day moving average of C$17.18. The company has a current ratio of 1.35, a quick ratio of 1.27 and a debt-to-equity ratio of 32.86.

Aecon Group (TSE:ARE) last announced its earnings results on Wednesday, July 24th. The company reported C($1.99) EPS for the quarter, topping analysts’ consensus estimates of C($2.53) by C$0.54. The company had revenue of C$853.80 million for the quarter, compared to analysts’ expectations of C$1.01 billion. Aecon Group had a return on equity of 1.40% and a net margin of 0.32%. On average, equities research analysts anticipate that Aecon Group Inc. will post 1.3793321 EPS for the current year.

Aecon Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, October 2nd were issued a $0.19 dividend. The ex-dividend date was Friday, September 20th. This represents a $0.76 annualized dividend and a dividend yield of 3.44%. Aecon Group’s dividend payout ratio (DPR) is -281.48%.

Insider Activity at Aecon Group

In other news, Senior Officer Timothy John Murphy bought 4,244 shares of the stock in a transaction dated Thursday, August 8th. The stock was purchased at an average price of C$17.66 per share, for a total transaction of C$74,969.84. In other Aecon Group news, Senior Officer Timothy John Murphy purchased 4,244 shares of the stock in a transaction dated Thursday, August 8th. The stock was purchased at an average price of C$17.66 per share, with a total value of C$74,969.84. Also, Director Scott Stewart acquired 10,000 shares of Aecon Group stock in a transaction that occurred on Monday, July 29th. The stock was acquired at an average cost of C$16.54 per share, with a total value of C$165,380.00. Insiders have acquired a total of 16,549 shares of company stock valued at $274,762 over the last 90 days. 0.82% of the stock is owned by corporate 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.