Canaccord Genuity Group Forecasts Strong Price Appreciation for Aecon Group (TSE:ARE) Stock

Aecon Group (TSE:ARE) had its price target lifted by Canaccord Genuity Group from C$28.00 to C$33.00 in a research note issued to investors on Monday,BayStreet.CA reports.

A number of other analysts have also issued reports on the company. National Bank Financial raised Aecon Group from a “hold” rating to a “strong-buy” rating in a research report on Sunday, July 28th. Royal Bank of Canada boosted their target price on Aecon Group from C$13.00 to C$17.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Stifel Canada raised Aecon Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 25th. Stifel Nicolaus upped their price objective on Aecon Group from C$30.00 to C$31.00 in a research report on Friday, October 4th. Finally, BMO Capital Markets cut their price objective on Aecon Group from C$17.50 to C$16.50 in a research report on Wednesday, July 24th. Four equities 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$25.94.

Aecon Group Stock Up 0.8 %

Shares of TSE ARE opened at C$29.07 on Monday. The firm has a market cap of C$1.82 billion, a price-to-earnings ratio of -107.67, a PEG ratio of 18.18 and a beta of 1.13. The company has a quick ratio of 1.27, a current ratio of 1.35 and a debt-to-equity ratio of 32.86. Aecon Group has a 52-week low of C$10.30 and a 52-week high of C$29.50. The business’s 50 day moving average is C$21.48 and its two-hundred day moving average is C$18.19.

Aecon Group Announces Dividend

The company also recently announced 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 2.61%. Aecon Group’s payout ratio is currently -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.