CIBC Cuts Aecon Group (TSE:ARE) Price Target to C$30.00

Aecon Group (TSE:ARE) had its price target trimmed by CIBC from C$33.00 to C$30.00 in a research report released on Friday morning,BayStreet.CA reports.

Other research analysts have also issued reports about the company. National Bank Financial lowered Aecon Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Desjardins decreased their target price on Aecon Group from C$32.00 to C$29.00 and set a “buy” rating on the stock in a report on Friday. TD Securities decreased their target price on Aecon Group from C$35.00 to C$30.00 and set a “buy” rating on the stock in a report on Friday. National Bankshares lowered Aecon Group from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from C$28.00 to C$30.00 in a report on Wednesday, December 4th. Finally, BMO Capital Markets upped their price objective on Aecon Group from C$27.00 to C$29.00 in a report on Friday, December 6th. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$24.98.

Aecon Group Stock Down 3.9 %

ARE stock opened at C$17.96 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.27 and a debt-to-equity ratio of 32.84. The firm has a market capitalization of C$1.14 billion, a PE ratio of -17.67, a PEG 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. The business’s 50 day simple moving average is C$24.38 and its 200 day simple moving average is C$23.88.

Aecon Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, January 3rd were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, December 24th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.23%. Aecon Group’s payout ratio is -74.76%.

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.