CIBC Forecasts Strong Price Appreciation for Aecon Group (TSE:ARE) Stock

Aecon Group (TSE:ARE) had its target price hoisted by CIBC from C$29.00 to C$35.00 in a research report report published on Friday morning,BayStreet.CA reports.

ARE has been the subject of a number of other research reports. BMO Capital Markets lifted their price objective on Aecon Group from C$27.00 to C$29.00 in a research note on Friday, December 6th. TD Securities raised Aecon Group from a “hold” rating to a “buy” rating and boosted their price target for the company from C$23.00 to C$35.00 in a report on Monday, November 4th. National Bankshares lowered Aecon Group from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from C$28.00 to C$30.00 in a research report on Wednesday, December 4th. Stifel Nicolaus lifted their price objective on shares of Aecon Group from C$30.00 to C$31.00 in a report on Friday, October 4th. Finally, ATB Capital upped their price target on Aecon Group from C$21.00 to C$29.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$27.53.

Aecon Group Stock Performance

ARE opened at C$27.03 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.27 and a debt-to-equity ratio of 32.86. Aecon Group has a 12-month low of C$11.75 and a 12-month high of C$29.70. The firm has a 50 day moving average of C$26.10 and a two-hundred day moving average of C$20.28. The firm has a market capitalization of C$1.69 billion, a PE ratio of -100.11, a P/E/G ratio of 18.18 and a beta of 1.13.

Aecon Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, October 2nd were issued a dividend of $0.19 per share. The ex-dividend date was Friday, September 20th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.81%. Aecon Group’s payout ratio is currently -281.48%.

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.