Desjardins Cuts Aecon Group (TSE:ARE) Price Target to C$18.00

Aecon Group (TSE:ARE) had its price target trimmed by Desjardins from C$20.00 to C$18.00 in a research note published on Tuesday, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Other analysts have also recently issued reports about the company. Stifel Nicolaus raised their price objective on Aecon Group from C$17.00 to C$18.25 in a research report on Friday, April 26th. Paradigm Capital increased their target price on Aecon Group from C$14.00 to C$17.80 and gave the stock a hold rating in a research note on Friday, April 26th. CIBC increased their target price on Aecon Group from C$22.00 to C$23.00 and gave the stock an outperform rating in a research note on Friday, April 26th. Canaccord Genuity Group increased their target price on Aecon Group from C$14.00 to C$26.00 and gave the stock a buy rating in a research note on Thursday, March 7th. Finally, Royal Bank of Canada lowered their target price on Aecon Group from C$16.00 to C$13.00 and set a sector perform rating on the stock in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Aecon Group currently has an average rating of Hold and a consensus target price of C$18.38.

Aecon Group Stock Down 17.5 %

ARE stock opened at C$14.01 on Tuesday. The company has a debt-to-equity ratio of 28.71, a current ratio of 1.50 and a quick ratio of 1.27. The stock has a market capitalization of C$872.40 million, a P/E ratio of 6.52, a P/E/G ratio of 18.18 and a beta of 1.19. The business has a 50-day moving average of C$16.68 and a 200-day moving average of C$15.50. Aecon Group has a fifty-two week low of C$8.42 and a fifty-two week high of C$17.40.

Aecon Group (TSE:ARE) last issued its quarterly earnings results on Wednesday, April 24th. The company reported C($0.10) EPS for the quarter, beating the consensus estimate of C($0.14) by C$0.04. Aecon Group had a return on equity of 16.62% and a net margin of 3.77%. The firm had revenue of C$846.59 million during the quarter, compared to analysts’ expectations of C$1.03 billion. On average, sell-side analysts anticipate that Aecon Group will post 0.9104803 earnings per share for the current fiscal year.

Aecon Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Wednesday, July 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 5.42%. The ex-dividend date is Friday, June 21st. Aecon Group’s dividend payout ratio (DPR) is 35.35%.

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.