Analysts Set Aecon Group Inc. (TSE:ARE) Price Target at C$19.62

Shares of Aecon Group Inc. (TSE:ARE) have earned an average recommendation of “Moderate Buy” from the thirteen brokerages that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is C$19.62.

ARE has been the subject of several research reports. ATB Capital lifted their price target on Aecon Group from C$19.50 to C$21.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Paradigm Capital lifted their price target on Aecon Group from C$14.00 to C$17.80 and gave the company a “hold” rating in a report on Friday, April 26th. CIBC dropped their target price on shares of Aecon Group from C$23.00 to C$22.00 in a research report on Thursday, July 11th. Desjardins dropped their target price on shares of Aecon Group from C$20.00 to C$18.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd. Finally, National Bankshares raised shares of Aecon Group from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from C$17.00 to C$20.50 in a research report on Monday, July 29th.

Insider Activity

In other news, Director Scott Stewart bought 10,000 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were purchased at an average cost of C$16.54 per share, with a total value of C$165,380.00. In related news, Director Scott Stewart purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were purchased at an average price of C$16.54 per share, with a total value of C$165,380.00. Also, Senior Officer Timothy John Murphy purchased 4,244 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was bought at an average cost of C$17.66 per share, for a total transaction of C$74,969.84. Over the last ninety days, insiders have acquired 16,549 shares of company stock valued at $274,762. Company insiders own 0.77% of the company’s stock.

Aecon Group Price Performance

Aecon Group stock opened at C$17.89 on Friday. Aecon Group has a one year low of C$8.42 and a one year high of C$18.06. The company has a debt-to-equity ratio of 28.71, a quick ratio of 1.27 and a current ratio of 1.50. The business has a fifty day moving average of C$16.02 and a two-hundred day moving average of C$16.07. The company has a market cap of C$1.11 billion, a P/E ratio of 8.32, a price-to-earnings-growth ratio of 18.18 and a beta of 1.19.

Aecon Group (TSE:ARE) last released its earnings results on Wednesday, July 24th. The company reported C($1.99) EPS for the quarter, beating analysts’ consensus estimates of C($2.53) by C$0.54. Aecon Group had a return on equity of 16.62% and a net margin of 3.77%. The company had revenue of C$853.80 million during the quarter, compared to the consensus estimate of C$1.01 billion. As a group, analysts predict that Aecon Group will post 0.9104803 earnings per share for the current fiscal year.

Aecon Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Friday, September 20th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date is Friday, September 20th. Aecon Group’s payout ratio 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.