Aecon Group Inc. (TSE:ARE) Given Consensus Recommendation of “Moderate Buy” by Analysts

Aecon Group Inc. (TSE:ARE) has been assigned an average rating of “Moderate Buy” from the thirteen analysts that are currently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is C$25.25.

Several brokerages have recently weighed in on ARE. Royal Bank of Canada cut their price objective on Aecon Group from C$27.00 to C$20.00 in a report on Monday, March 10th. TD Securities cut their price target on shares of Aecon Group from C$35.00 to C$30.00 and set a “buy” rating for the company in a report on Friday, March 7th. CIBC reduced their price objective on shares of Aecon Group from C$33.00 to C$30.00 in a research report on Friday, March 7th. Stifel Nicolaus downgraded shares of Aecon Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$31.00 to C$19.00 in a report on Friday, March 7th. Finally, Desjardins reduced their target price on shares of Aecon Group from C$32.00 to C$29.00 and set a “buy” rating for the company in a report on Friday, March 7th.

Aecon Group Stock Performance

ARE opened at C$16.78 on Friday. The business has a 50 day moving average price of C$21.82 and a two-hundred day moving average price of C$23.79. The company has a debt-to-equity ratio of 32.84, a current ratio of 1.19 and a quick ratio of 1.27. The company has a market capitalization of C$1.06 billion, a price-to-earnings ratio of -16.51, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13. Aecon Group has a 1-year low of C$13.03 and a 1-year high of C$29.70.

Aecon Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, April 2nd will be given a $0.19 dividend. The ex-dividend date is Friday, March 21st. This represents a $0.76 dividend on an annualized basis and a yield of 4.53%. Aecon Group’s payout ratio is -74.76%.

Insider Activity

In other news, Director Stuart Lee purchased 5,700 shares of Aecon Group stock in a transaction dated Monday, March 10th. The stock was acquired at an average cost of C$18.35 per share, for a total transaction of C$104,595.00. 0.82% of the stock is currently owned by corporate insiders.

Aecon Group Company Profile

Aecon Group Inc is a Canada-based company that operates in two segments: Construction and Concessions. The Construction segment includes various aspects of the construction of public and private infrastructure projects, mainly in the transportation sector. Its concessions segment is engaged in the development, financing, construction, and operation of infrastructure projects.