Aecon Group (TSE:ARE) Price Target Raised to C$29.00

Aecon Group (TSE:ARE) had its price target raised by CIBC from C$25.00 to C$29.00 in a report published on Monday, BayStreet.CA reports.

A number of other brokerages also recently issued reports on ARE. Royal Bank of Canada lifted their price target on shares of Aecon Group from C$13.00 to C$17.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Raymond James lifted their price target on shares of Aecon Group from C$16.00 to C$24.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. National Bankshares upgraded shares of Aecon Group from a “sector perform” rating to an “outperform” rating and lifted their price target for the company 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, TD Securities reduced their target price on shares of Aecon Group from C$17.00 to C$16.00 and set a “hold” rating on the stock in a report on Friday, July 26th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$25.94.

Aecon Group Stock Performance

Shares of TSE ARE opened at C$28.85 on Monday. The company has a debt-to-equity ratio of 32.86, a quick ratio of 1.27 and a current ratio of 1.35. The company has a market cap of C$1.80 billion, a P/E ratio of -106.85, a P/E/G ratio of 18.18 and a beta of 1.13. The firm’s fifty day moving average is C$21.26 and its two-hundred day moving average is C$18.11. Aecon Group has a 52-week low of C$10.30 and a 52-week high of C$29.16.

Aecon Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Wednesday, October 2nd were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.63%. Aecon Group’s dividend payout ratio is presently -281.48%.

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.