Aecon Group (TSE:ARE) Stock Passes Above 200 Day Moving Average – What’s Next?

Aecon Group Inc. (TSE:ARE) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$21.51 and traded as high as C$25.57. Aecon Group shares last traded at C$25.25, with a volume of 287,830 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. BMO Capital Markets lifted their target price on shares of Aecon Group from C$27.00 to C$29.00 in a research note on Friday, December 6th. National Bank Financial lowered Aecon Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Canaccord Genuity Group boosted their price objective on Aecon Group from C$28.00 to C$33.00 in a research note on Monday, November 4th. Raymond James raised their target price on Aecon Group from C$24.00 to C$28.00 in a research note on Tuesday, November 5th. Finally, TD Securities raised Aecon Group from a “hold” rating to a “buy” rating and boosted their price target for the company from C$23.00 to C$35.00 in a research note on Monday, November 4th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Aecon Group currently has an average rating of “Moderate Buy” and an average price target of C$27.53.

Aecon Group Price Performance

The business has a 50-day moving average price of C$27.63 and a two-hundred day moving average price of C$21.51. The company has a quick ratio of 1.27, a current ratio of 1.35 and a debt-to-equity ratio of 32.86. The company has a market capitalization of C$1.58 billion, a price-to-earnings ratio of -93.52, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13.

Aecon Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, January 3rd were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date was Tuesday, December 24th. Aecon Group’s dividend payout ratio (DPR) is -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.