Aecon Group (TSE:ARE) Shares Down 11.9% – Here’s What Happened

Aecon Group Inc. (TSE:ARE)’s stock price dropped 11.9% during trading on Thursday . The company traded as low as C$19.25 and last traded at C$19.61. Approximately 155,384 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 376,128 shares. The stock had previously closed at C$22.27.

Analyst Upgrades and Downgrades

ARE has been the subject of a number of research reports. National Bank Financial downgraded Aecon Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. BMO Capital Markets lifted their price target on Aecon Group from C$27.00 to C$29.00 in a research note on Friday, December 6th. National Bankshares cut shares of Aecon Group from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from C$28.00 to C$30.00 in a report on Wednesday, December 4th. Finally, CIBC cut their target price on shares of Aecon Group from C$35.00 to C$33.00 in a report on Monday, February 3rd. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$27.35.

Aecon Group Stock Performance

The stock has a market cap of C$1.18 billion, a P/E ratio of -18.30, a PEG ratio of 18.18 and a beta of 1.13. The company has a fifty day moving average of C$24.55 and a 200 day moving average of C$23.91. The company has a debt-to-equity ratio of 32.84, a current ratio of 1.19 and a quick ratio of 1.27.

Aecon Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, January 3rd were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend was Tuesday, December 24th. Aecon Group’s payout ratio is presently -74.76%.

Aecon Group Company Profile

Aecon Group Inc is a Canada-based company that operates in two segments: Construction and Concessions. The Construction segment includes various aspects of the construction of public and private infrastructure projects, mainly in the transportation sector. Its concessions segment is engaged in the development, financing, construction, and operation of infrastructure projects.