Aecon Group Inc. (TSE:ARE) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Aecon Group currently has a consensus analyst rating of "Moderate Buy", with six buy ratings and five hold ratings from eleven covering firms. The average 1-year price target is C$55.08.
• Several brokerages raised their price targets on the stock recently, including National Bank Financial to C$65 and TD Securities to C$49. Other firms such as BMO, CIBC, and ATB Cormark also increased targets.
• The stock opened at C$52.51, near its 52-week high of C$57.72, after reporting quarterly EPS of C($0.21) on revenue of C$1.26 billion. Aecon also paid a quarterly dividend of C$0.1925 per share, yielding about 1.5%.

Shares of Aecon Group Inc. (TSE:ARE - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the eleven research firms that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is C$55.08.

A number of brokerages recently issued reports on ARE. BMO Capital Markets raised their price target on Aecon Group from C$45.00 to C$49.00 and gave the stock a "market perform" rating in a research report on Wednesday, April 29th. Canadian Imperial Bank of Commerce raised their target price on shares of Aecon Group from C$45.00 to C$48.00 in a report on Thursday, April 9th. ATB Cormark Capital Markets lifted their price target on shares of Aecon Group from C$42.00 to C$49.00 and gave the stock a "sector perform" rating in a research note on Thursday, April 30th. National Bank Financial upped their price target on shares of Aecon Group from C$59.00 to C$65.00 and gave the company an "outperform" rating in a report on Monday. Finally, TD Securities increased their price objective on shares of Aecon Group from C$47.00 to C$49.00 and gave the stock a "buy" rating in a research report on Monday, March 30th.

Aecon Group Stock Performance

Aecon Group stock opened at C$52.51 on Friday. The company's 50-day moving average price is C$46.96 and its 200-day moving average price is C$42.20. Aecon Group has a twelve month low of C$17.06 and a twelve month high of C$57.72. The company has a quick ratio of 1.27, a current ratio of 1.16 and a debt-to-equity ratio of 42.80. The company has a market cap of C$3.60 billion, a PE ratio of 95.47, a price-to-earnings-growth ratio of 18.18 and a beta of 1.38.

Aecon Group (TSE:ARE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The company reported C($0.21) EPS for the quarter. Aecon Group had a net margin of 0.62% and a return on equity of 3.71%. The business had revenue of C$1.26 billion during the quarter. On average, equities research analysts forecast that Aecon Group will post 1.3793321 EPS for the current fiscal year.

Aecon Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 3rd. Stockholders of record on Friday, July 3rd were paid a dividend of $0.1925 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.5%. Aecon Group's dividend payout ratio is currently 138.64%.

Insider Buying and Selling

In related news, Director John Michael Beck sold 20,000 shares of the business's stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of C$49.77, for a total transaction of C$995,400.00. Following the completion of the transaction, the director owned 201,417 shares in the company, valued at C$10,024,524.09. The trade was a 9.03% decrease in their position. Also, insider Timothy John Murphy sold 2,930 shares of the business's stock in a transaction on Monday, May 11th. The shares were sold at an average price of C$52.31, for a total value of C$153,268.30. Following the transaction, the insider owned 4,801 shares of the company's stock, valued at approximately C$251,140.31. The trade was a 37.90% decrease in their position. In the last three months, insiders sold 23,451 shares of company stock valued at $1,177,370. Insiders own 0.82% of the company's stock.

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. Aecon generates the majority of its revenue from the Construction segment.

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