Aecon Group Inc. (TSE:ARE) Receives C$22.70 Average Price Target from Brokerages

Key Points

• Aecon Group Inc. (TSE:ARE) has received a consensus rating of "Buy" from ten research firms, with eight analysts recommending a buy and two a strong buy.
• The average one-year price target for Aecon Group's stock is C$22.70, with varying adjustments made by different analysts recently.
• The company recently declared a quarterly dividend of $0.19 per share, representing a 3.7% dividend yield based on an annualized payout of $0.76.

Aecon Group Inc. (TSE:ARE - Get Free Report) has been assigned an average recommendation of "Buy" from the ten brokerages that are presently covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is C$22.70.

ARE has been the topic of a number of analyst reports. BMO Capital Markets upped their target price on shares of Aecon Group from C$19.00 to C$22.00 in a report on Tuesday, July 22nd. ATB Capital decreased their target price on shares of 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. TD Securities upped their target price on shares of Aecon Group from C$22.00 to C$23.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Desjardins decreased their target price on shares of Aecon Group from C$24.00 to C$22.00 and set a "buy" rating on the stock in a report on Tuesday, August 5th. Finally, National Bank Financial raised shares of Aecon Group from a "hold" rating to a "strong-buy" rating in a report on Friday, August 1st.

Insider Transactions at Aecon Group

In related news, Director Deborah Susan Stein purchased 5,000 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were purchased at an average price of C$18.90 per share, with a total value of C$94,500.00. Also, Director Scott William Thon purchased 10,500 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was bought at an average cost of C$19.21 per share, for a total transaction of C$201,705.00. Insiders have purchased 21,825 shares of company stock valued at $419,159 in the last quarter. Insiders own 0.82% of the company's stock.

Aecon Group Stock Down 0.7%

Aecon Group stock traded down C$0.15 during midday trading on Tuesday, hitting C$20.42. 82,552 shares of the stock were exchanged, compared to its average volume of 405,842. Aecon Group has a 52-week low of C$15.21 and a 52-week high of C$29.70. The stock has a market capitalization of C$1.29 billion, a price-to-earnings ratio of -20.09, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13. The business's 50-day moving average price is C$20.07 and its 200-day moving average price is C$19.27. 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Thursday, July 3rd were issued a $0.19 dividend. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.7%. Aecon Group's dividend payout ratio is presently -74.76%.

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.