Canaccord Genuity Group Trims Aecon Group (TSE:ARE) Target Price to C$25.00

Aecon Group (TSE:ARE) had its price objective cut by Canaccord Genuity Group from C$26.00 to C$25.00 in a report published on Wednesday, BayStreet.CA reports. They currently have a buy rating on the stock.

ARE has been the subject of a number of other reports. CIBC upped their target price on Aecon Group from C$22.00 to C$23.00 and gave the company an outperform rating in a research report on Friday, April 26th. Royal Bank of Canada cut their target price on Aecon Group from C$16.00 to C$13.00 and set a sector perform rating for the company in a research report on Tuesday. TD Securities cut their target price on Aecon Group from C$18.00 to C$17.00 and set a hold rating for the company in a research report on Tuesday. Stifel Nicolaus upped their target price on Aecon Group from C$16.25 to C$16.50 in a research report on Wednesday. Finally, ATB Capital upped their target price on Aecon Group from C$19.50 to C$21.00 and gave the company an outperform rating in a research report on Friday, April 26th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Aecon Group has a consensus rating of Hold and an average price target of C$18.32.

Aecon Group Stock Performance

ARE opened at C$14.50 on Wednesday. The business has a fifty day simple moving average of C$16.64 and a 200 day simple moving average of C$15.49. The company has a market capitalization of C$902.92 million, a PE ratio of 6.74, a price-to-earnings-growth ratio of 18.18 and a beta of 1.19. Aecon Group has a 1 year low of C$8.42 and a 1 year high of C$17.40. The company has a debt-to-equity ratio of 28.71, a current ratio of 1.50 and a quick ratio of 1.27.

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

Aecon Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Wednesday, July 3rd were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, June 21st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.24%. Aecon Group’s dividend payout ratio (DPR) is currently 35.35%.

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.