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

Key Points

• Aecon Group Inc. has received an average rating of "Buy" from ten rating firms, with one firm rating it as "strong buy" and eight others assigning a buy recommendation.
• The company recently announced a quarterly dividend of $0.19, which translates to an annual yield of 4.1%, despite a negative dividend payout ratio.
• Aecon Group's stock has seen significant insider activity, with directors purchasing a total of 21,825 shares in recent months, indicating confidence in the company's future.

Shares of Aecon Group Inc. (TSE:ARE - Get Free Report) have received an average rating of "Buy" from the ten brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is C$23.20.

ARE has been the topic of a number of analyst reports. Stifel Canada raised Aecon Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 17th. Raymond James Financial decreased their price target on Aecon Group from C$23.00 to C$21.00 in a research note on Monday, April 28th. Stifel Nicolaus decreased their price target on Aecon Group from C$16.00 to C$14.00 in a research note on Friday, April 25th. National Bank Financial lowered Aecon Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 14th. Finally, Royal Bank Of Canada decreased their price target on Aecon Group from C$18.00 to C$17.00 in a research note on Friday, April 25th.

Aecon Group Price Performance

Shares of ARE traded up C$0.59 during trading hours on Friday, reaching C$19.34. 724,635 shares of the company traded hands, compared to its average volume of 417,713. The company has a quick ratio of 1.27, a current ratio of 1.19 and a debt-to-equity ratio of 32.84. The stock has a market capitalization of C$1.22 billion, a PE ratio of -19.03, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13. Aecon Group has a fifty-two week low of C$15.21 and a fifty-two week high of C$29.70. The stock has a fifty day simple moving average of C$19.71 and a 200 day simple moving average of C$19.80.

Aecon Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Thursday, July 3rd were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Monday, June 23rd. Aecon Group's dividend payout ratio is -74.76%.

Insider Buying and Selling

In other Aecon Group news, Director Scott William Thon purchased 10,500 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was purchased at an average cost of C$19.21 per share, with a total value of C$201,705.00. Also, Director Deborah Susan Stein purchased 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were acquired at an average cost of C$18.90 per share, with a total value of C$94,500.00. In the last three months, insiders acquired 21,825 shares of company stock valued at $419,159. Company insiders own 0.82% of the company's stock.

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.