Analysts Set Aecon Group Inc. (TSE:ARE) Target Price at C$23.20

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 been assigned an average rating of "Buy" from the ten research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is C$23.20.

A number of research analysts have weighed in on the stock. BMO Capital Markets raised their price objective on shares of Aecon Group from C$19.00 to C$22.00 in a research note on Tuesday, July 22nd. Raymond James Financial dropped their price objective on shares of Aecon Group from C$23.00 to C$21.00 in a research note on Monday, April 28th. Stifel Nicolaus dropped their price objective on shares of Aecon Group from C$16.00 to C$14.00 in a research note on Friday, April 25th. CIBC dropped their price objective on shares of Aecon Group from C$31.00 to C$24.00 in a research note on Friday, April 25th. Finally, Royal Bank Of Canada dropped their price objective on shares of Aecon Group from C$18.00 to C$17.00 in a research note on Friday, April 25th.

Aecon Group Stock Up 3.1%

TSE ARE traded up C$0.59 on Friday, hitting C$19.34. 724,635 shares of the company were exchanged, compared to its average volume of 417,713. The company has a market cap of C$1.22 billion, a PE ratio of -19.03, a PEG ratio of 18.18 and a beta of 1.13. Aecon Group has a 12 month low of C$15.21 and a 12 month high of C$29.70. The stock has a fifty day moving average of C$19.71 and a 200-day moving average of C$19.87. The company has a current ratio of 1.19, a quick ratio of 1.27 and a debt-to-equity ratio of 32.84.

Aecon Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Thursday, July 3rd were issued 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 was Monday, June 23rd. Aecon Group's dividend payout ratio (DPR) is -74.76%.

Insider Buying and Selling

In other Aecon Group news, Director Scott William Thon bought 10,500 shares of Aecon Group stock in a transaction dated Tuesday, June 3rd. The stock was purchased at an average price of C$19.21 per share, for a total transaction of C$201,705.00. Also, Director Leslie Compton Kass bought 6,325 shares of Aecon Group stock in a transaction dated Tuesday, June 10th. The stock was acquired at an average price of C$19.44 per share, with a total value of C$122,953.83. Over the last 90 days, insiders purchased 21,825 shares of company stock worth $419,159. 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.