Aecon Group Inc. (TSE:ARE) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Aecon Group has a “Moderate Buy” consensus rating among 11 analysts, with six buys and five holds. The average 12-month price target is C$55.08, above the reported opening price of C$45.13.
• Recent analyst actions were generally positive, including rating upgrades from Stifel Nicolaus and Raymond James and target-price increases from several brokerages, with targets ranging as high as C$65.00.
• Insiders recently sold shares, while Aecon reported quarterly revenue of C$1.63 billion and earnings of C$0.33 per share. The company also maintains a quarterly dividend of C$0.1925 per share, equivalent to an annualized C$0.77 and a 1.7% yield.

Aecon Group Inc. (TSE:ARE - Get Free Report) has received a consensus rating of "Moderate Buy" from the eleven analysts that are currently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is C$55.08.

ARE has been the topic of a number of research analyst reports. Royal Bank Of Canada boosted their target price on shares of Aecon Group from C$44.00 to C$49.00 and gave the company a "sector perform" rating in a research note on Thursday, April 30th. Stifel Nicolaus upgraded shares of Aecon Group from a "hold" rating to a "buy" rating and raised their price target for the stock from C$46.00 to C$54.00 in a research note on Friday, June 26th. Desjardins lifted their price target on shares of Aecon Group from C$55.00 to C$61.00 and gave the stock a "hold" rating in a report on Monday, July 6th. National Bank Financial upped their price objective on Aecon Group from C$59.00 to C$65.00 and gave the company an "outperform" rating in a research note on Monday, July 13th. Finally, Raymond James Financial raised Aecon Group from a "hold" rating to a "moderate buy" rating and increased their price objective for the company from C$52.00 to C$60.00 in a report on Friday, July 3rd.

Insider Buying and Selling at Aecon Group

In related news, Director John Michael Beck sold 20,000 shares of the business's stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of C$49.77, for a total value of C$995,400.00. Following the sale, the director directly owned 201,417 shares in the company, valued at approximately C$10,024,524.09. The trade was a 9.03% decrease in their position. Also, insider Steven Neil Nackan sold 1,000 shares of the business's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of C$47.72, for a total value of C$47,720.00. Following the completion of the sale, the insider owned 14,535 shares in the company, valued at C$693,610.20. This represents a 6.44% decrease in their ownership of the stock. 0.82% of the stock is currently owned by corporate insiders.

Aecon Group Trading Down 3.2%

TSE ARE opened at C$45.13 on Tuesday. The business's fifty day moving average is C$47.17 and its 200-day moving average is C$44.15. The company has a debt-to-equity ratio of 84.23, a current ratio of 1.08 and a quick ratio of 1.27. The stock has a market capitalization of C$3.09 billion, a price-to-earnings ratio of -47.51, a PEG ratio of 18.18 and a beta of 1.41. Aecon Group has a one year low of C$19.81 and a one year high of C$57.72.

Aecon Group (TSE:ARE - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported C$0.33 earnings per share for the quarter. Aecon Group had a negative net margin of 1.10% and a negative return on equity of 6.76%. The company had revenue of C$1.63 billion during the quarter. Equities research analysts predict that Aecon Group will post 1.3793321 EPS for the current year.

Aecon Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 3rd. Stockholders of record on Friday, July 3rd were given a dividend of $0.1925 per share. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, June 23rd. Aecon Group's dividend payout ratio is currently -80.53%.

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. Aecon generates the majority of its revenue from the Construction segment.

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