Aecon Group (ARE) Scheduled to Post Quarterly Earnings on Thursday

Aecon Group (TSE:ARE) will be issuing its quarterly earnings data after the market closes on Thursday, October 31st. Analysts expect the company to announce earnings of C$0.74 per share for the quarter.

Aecon Group (TSE:ARE) last issued its quarterly earnings results on Wednesday, July 24th. The company reported C($1.99) earnings per share for the quarter, beating analysts’ consensus estimates of C($2.53) by C$0.54. The company had revenue of C$853.80 million during the quarter, compared to the consensus estimate of C$1.01 billion. Aecon Group had a net margin of 0.32% and a return on equity of 1.40%.

Aecon Group Price Performance

TSE ARE opened at C$22.28 on Thursday. The stock’s 50-day moving average price is C$19.90 and its two-hundred day moving average price is C$17.59. The company has a current ratio of 1.35, a quick ratio of 1.27 and a debt-to-equity ratio of 32.86. The company has a market cap of C$1.39 billion, a PE ratio of -82.52, a PEG ratio of 18.18 and a beta of 1.13. Aecon Group has a 1 year low of C$8.42 and a 1 year high of C$23.20.

Aecon Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, October 2nd were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.76 annualized dividend and a yield of 3.41%. Aecon Group’s payout ratio is presently -281.48%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ARE. National Bank Financial upgraded Aecon Group from a “hold” rating to a “strong-buy” rating in a report on Sunday, July 28th. TD Securities cut their price objective on 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. Desjardins cut their price objective on 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. CIBC upped their target price on Aecon Group from C$22.00 to C$25.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Stifel Nicolaus upped their target price on Aecon Group from C$30.00 to C$31.00 in a report on Friday, October 4th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$21.44.

Insider Activity at Aecon Group

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