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

Key Points

• Aecon Group Inc. has received an average recommendation of "Buy" from nine brokerage firms, with six firms issuing a buy recommendation and two issuing a strong buy.
• The company declared a quarterly dividend of $0.19 per share, with an annualized dividend yield of 3.1% and a high payout ratio of 180.95%.
• As of Wednesday, Aecon Group stock was trading at C$24.74, marking a recent stock price increase of 1.5%.

Aecon Group Inc. (TSE:ARE - Get Free Report) has earned a consensus rating of "Buy" from the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is C$24.91.

ARE has been the topic of a number of research analyst reports. ATB Capital lowered their price target on Aecon Group from C$30.00 to C$28.00 and set an "outperform" rating on the stock in a report on Tuesday, August 5th. National Bank Financial raised Aecon Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 1st. Desjardins dropped their target price on Aecon Group from C$24.00 to C$22.00 and set a "buy" rating on the stock in a research report on Tuesday, August 5th. National Bankshares upped their target price on Aecon Group from C$23.00 to C$26.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 24th. Finally, BMO Capital Markets upped their target price on Aecon Group from C$19.00 to C$22.00 in a research report on Tuesday, July 22nd.

Aecon Group Stock Up 1.5%

Shares of Aecon Group stock opened at C$24.74 on Wednesday. The stock's fifty day moving average is C$22.15 and its 200-day moving average is C$19.88. The firm has a market capitalization of C$1.57 billion, a PE ratio of 58.90, a price-to-earnings-growth ratio of 18.18 and a beta of 1.48. The company has a quick ratio of 1.27, a current ratio of 1.19 and a debt-to-equity ratio of 32.84. Aecon Group has a 12-month low of C$15.21 and a 12-month high of C$29.70.

Aecon Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, October 2nd were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Monday, September 22nd. Aecon Group's dividend payout ratio is 180.95%.

About Aecon Group

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.

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