Aecon Group (TSE:ARE) Price Target Raised to C$25.00

Aecon Group (TSE:ARE) had its target price hoisted by CIBC from C$22.00 to C$25.00 in a report published on Wednesday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other research analysts have also weighed in on ARE. Stifel Canada upgraded Aecon Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 25th. National Bank Financial raised shares of Aecon Group from a “hold” rating to a “strong-buy” rating in a research note on Sunday, July 28th. BMO Capital Markets decreased their price target on shares of Aecon Group from C$17.50 to C$16.50 in a research note on Wednesday, July 24th. TD Securities decreased their price target on shares of Aecon Group from C$17.00 to C$16.00 and set a “hold” rating for the company in a research note on Friday, July 26th. Finally, Canaccord Genuity Group boosted their price objective on shares of 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. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Aecon Group has a consensus rating of “Moderate Buy” and an average price target of C$21.44.

Aecon Group Price Performance

Aecon Group has a twelve month low of C$8.42 and a twelve month high of C$23.20. The company’s fifty day moving average price is C$19.57 and its two-hundred day moving average price is C$17.48. The company has a market cap of C$1.43 billion, a PE ratio of -84.81, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13. The company has a debt-to-equity ratio of 32.86, a current ratio of 1.35 and a quick ratio of 1.27.

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

Aecon Group Dividend Announcement

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

Insider Activity

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

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.