Aecon Group (TSE:ARE) Insider Steven Neil Nackan Sells 1,000 Shares

Key Points

• Insider Steven Neil Nackan sold 1,000 Aecon Group shares at an average price of C$47.02, generating C$47,020. Following the sale, he directly owned 13,535 shares; he also sold 1,000 shares earlier in August.
• Aecon shares fell 0.4% to C$47.09, below the analyst consensus target of C$55.08. Analysts maintain a “Moderate Buy” consensus, with six Buy ratings and five Holds.
• The company reported quarterly revenue of C$1.63 billion and EPS of C$0.33, while maintaining a quarterly dividend of C$0.1925, equivalent to a 1.6% annualized yield.

Aecon Group Inc. (TSE:ARE - Get Free Report) insider Steven Neil Nackan sold 1,000 shares of the business's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of C$47.02, for a total transaction of C$47,020.00. Following the completion of the transaction, the insider directly owned 13,535 shares of the company's stock, valued at C$636,415.70. The trade was a 6.88% decrease in their position.

Steven Neil Nackan also recently made the following trade(s):

• On Thursday, August 6th, Steven Neil Nackan sold 1,000 shares of Aecon Group stock. The shares were sold at an average price of C$47.72, for a total value of C$47,720.00.

Aecon Group Trading Down 0.4%

Shares of Aecon Group stock traded down C$0.21 during trading hours on Tuesday, reaching C$47.09. 171,810 shares of the company's stock were exchanged, compared to its average volume of 482,476. Aecon Group Inc. has a 52-week low of C$19.81 and a 52-week high of C$57.72. The firm has a market capitalization of C$3.23 billion, a price-to-earnings ratio of -49.57, a price-to-earnings-growth ratio of 18.18 and a beta of 1.41. The company has a fifty day moving average of C$47.26 and a 200-day moving average of C$44.57. The company has a current ratio of 1.08, a quick ratio of 1.27 and a debt-to-equity ratio of 84.23.

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

Aecon Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 3rd. Shareholders of record on Friday, July 3rd were issued a $0.1925 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $0.77 annualized dividend and a yield of 1.6%. Aecon Group's payout ratio is -80.53%.

Analysts Set New Price Targets

Several research firms recently issued reports on ARE. Royal Bank Of Canada raised their target price on shares of Aecon Group from C$44.00 to C$49.00 and gave the stock a "sector perform" rating in a research report on Thursday, April 30th. ATB Cormark Capital Markets increased their price target on shares of Aecon Group from C$42.00 to C$49.00 and gave the stock a "sector perform" rating in a research note on Thursday, April 30th. Desjardins lifted their price target on shares of Aecon Group from C$55.00 to C$61.00 and gave the company a "hold" rating in a report on Monday, July 6th. National Bank Financial boosted their price objective on shares of 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, Stifel Nicolaus raised shares of Aecon Group from a "hold" rating to a "buy" rating and boosted their price objective for the company from C$46.00 to C$54.00 in a research note on Friday, June 26th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Aecon Group has a consensus rating of "Moderate Buy" and a consensus target price of C$55.08.

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

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