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

Key Points

• Aecon Group Inc. has received an average analyst rating of "Buy" with eight analysts rating it as a buy and two as a strong buy, alongside a 12-month price target of C$22.70.
• Desjardins and ATB Capital recently lowered their price targets to C$22.00 and C$28.00, respectively, while National Bank Financial upgraded the stock to strong buy on August 1st.
• The company declared a quarterly dividend of $0.19 per share, reflecting an annualized yield of 3.2%, despite a high payout ratio of 180.95%.

Shares of Aecon Group Inc. (TSE:ARE - Get Free Report) have been given a consensus rating of "Buy" by the nine research firms that are currently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is C$22.70.

A number of equities analysts have commented on the company. National Bank Financial raised Aecon Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 1st. TD Securities raised their price objective on Aecon Group from C$22.00 to C$23.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. ATB Capital dropped their price objective on Aecon Group from C$30.00 to C$28.00 and set an "outperform" rating for the company in a report on Tuesday, August 5th. BMO Capital Markets boosted their price objective on Aecon Group from C$19.00 to C$22.00 in a research report on Tuesday, July 22nd. Finally, Desjardins dropped their price objective on Aecon Group from C$24.00 to C$22.00 and set a "buy" rating on the stock in a research note on Tuesday, August 5th.

Aecon Group Stock Performance

Shares of ARE stock traded down C$0.07 during trading on Friday, reaching C$23.10. The company had a trading volume of 9,221 shares, compared to its average volume of 401,243. The company has a debt-to-equity ratio of 32.84, a current ratio of 1.19 and a quick ratio of 1.27. The firm's 50 day simple moving average is C$20.67 and its two-hundred day simple moving average is C$19.18. The company has a market capitalization of C$1.47 billion, a PE ratio of 55.00, a PEG ratio of 18.18 and a beta of 1.49. Aecon Group has a one year low of C$15.21 and a one year high of C$29.70.

Aecon Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Thursday, October 2nd will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, September 22nd. Aecon Group's dividend payout ratio is 180.95%.

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.