Aecon Group (TSE:ARE) Downgraded by Stifel Canada to “Hold”

Stifel Canada lowered shares of Aecon Group (TSE:ARE) from a strong-buy rating to a hold rating in a research report released on Thursday,Zacks.com reports.

A number of other equities analysts also recently issued reports on ARE. Raymond James cut their price objective on shares of Aecon Group from C$28.00 to C$23.00 and set a “market perform” rating on the stock in a report on Friday. Desjardins cut their price objective on shares of Aecon Group from C$32.00 to C$29.00 and set a “buy” rating on the stock in a report on Friday. National Bankshares cut their price target on shares of Aecon Group from C$30.00 to C$23.00 and set a “sector perform” rating on the stock in a report on Friday. TD Securities cut their price target on shares of Aecon Group from C$35.00 to C$30.00 and set a “buy” rating on the stock in a report on Friday. Finally, CIBC cut their price target on shares of Aecon Group from C$33.00 to C$30.00 in a report on Friday. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$24.98.

Aecon Group Stock Performance

TSE ARE opened at C$17.96 on Thursday. The company has a fifty day simple moving average of C$24.38 and a 200 day simple moving average of C$23.88. Aecon Group has a 12-month low of C$13.03 and a 12-month high of C$29.70. 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 company has a market cap of C$1.14 billion, a P/E ratio of -17.67, a PEG ratio of 18.18 and a beta of 1.13.

Aecon Group Dividend Announcement

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

About Aecon Group

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.