Aecon Group (TSE:ARE) Shares Down 15.7% After Analyst Downgrade

Shares of Aecon Group Inc. (TSE:ARE) fell 15.7% during trading on Tuesday after Canaccord Genuity Group lowered their price target on the stock from C$26.00 to C$25.00. Canaccord Genuity Group currently has a buy rating on the stock. Aecon Group traded as low as C$13.84 and last traded at C$14.31. 524,191 shares traded hands during trading, an increase of 78% from the average session volume of 293,976 shares. The stock had previously closed at C$16.98.

A number of other equities research analysts have also issued reports on the stock. TD Securities cut their price target on shares of Aecon Group from C$18.00 to C$17.00 and set a “hold” rating on the stock in a report on Tuesday. Stifel Nicolaus boosted their target price on shares of Aecon Group from C$16.25 to C$16.50 in a research note on Wednesday. BMO Capital Markets cut Aecon Group from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from C$18.50 to C$17.50 in a research report on Tuesday. National Bankshares upped their price target on Aecon Group from C$15.00 to C$18.00 and gave the company a “sector perform” rating in a research report on Friday, April 26th. Finally, Raymond James increased their price objective on Aecon Group from C$16.00 to C$17.00 and gave the stock a “market perform” rating in a research note on Friday, April 26th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Aecon Group currently has a consensus rating of “Hold” and an average target price of C$18.32.

Aecon Group Trading Up 3.5 %

The company has a 50 day moving average of C$16.64 and a 200 day moving average of C$15.49. The firm has a market cap of C$902.92 million, a P/E ratio of 6.74, a PEG ratio of 18.18 and a beta of 1.19. The company has a debt-to-equity ratio of 28.71, a quick ratio of 1.27 and a current ratio of 1.50.

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

Aecon Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 3rd. Investors of record on Wednesday, July 3rd were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 5.24%. The ex-dividend date was Friday, June 21st. Aecon Group’s dividend payout ratio is presently 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.