Aecon Group Inc. (TSE:ARE) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Aecon Group Inc. (TSE:ARE) has earned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is C$22.07.

Several analysts have commented on the company. BMO Capital Markets reduced their price objective on Aecon Group from C$17.50 to C$16.50 in a research note on Wednesday, July 24th. CIBC lifted their price objective on shares of Aecon Group from C$22.00 to C$25.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Royal Bank of Canada upped their price objective on shares of Aecon Group from C$13.00 to C$17.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. National Bankshares raised shares of Aecon Group from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from C$17.00 to C$20.50 in a report on Monday, July 29th. Finally, Raymond James raised their target price on Aecon Group from C$16.00 to C$24.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th.

Aecon Group Stock Up 18.7 %

Shares of TSE:ARE opened at C$27.52 on Wednesday. The company has a debt-to-equity ratio of 32.86, a current ratio of 1.35 and a quick ratio of 1.27. The stock has a market cap of C$1.72 billion, a P/E ratio of -101.93, a P/E/G ratio of 18.18 and a beta of 1.13. Aecon Group has a 1-year low of C$10.30 and a 1-year high of C$27.61. The firm has a fifty day moving average price of C$20.62 and a 200 day moving average price of C$17.86.

Aecon Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, October 2nd were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date was Friday, September 20th. Aecon Group’s payout ratio is currently -281.48%.

Insider Activity

In related news, Senior Officer Timothy John Murphy purchased 4,244 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was bought at an average price of C$17.66 per share, with a total value of C$74,969.84. Company insiders own 0.82% of the company’s stock.

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.