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

Key Points

• Insider Steven Neil Nackan sold 1,000 Aecon Group shares at an average price of C$47.72, receiving C$47,720. Following the transaction, he retained 14,535 shares, a 6.44% reduction in his stake.
• Aecon shares fell 2.1% to C$46.65, while the company reported quarterly EPS of C$0.33 and revenue of C$1.63 billion. The company posted a negative net margin of 1.10% and negative return on equity of 6.76%.
• Analysts remain generally positive, with a consensus “Moderate Buy” rating and an average price target of C$55.08. Aecon also pays a quarterly dividend of C$0.1925, equivalent to an annualized C$0.77 yield of about 1.7%.

Aecon Group Inc. (TSE:ARE - Get Free Report) insider Steven Neil Nackan sold 1,000 shares of the company's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of C$47.72, for a total transaction of C$47,720.00. Following the sale, the insider owned 14,535 shares of the company's stock, valued at C$693,610.20. This represents a 6.44% decrease in their ownership of the stock.

Aecon Group Trading Down 2.1%

Aecon Group stock traded down C$0.99 during trading hours on Friday, reaching C$46.65. The stock had a trading volume of 144,659 shares, compared to its average volume of 490,319. The company has a fifty day simple moving average of C$47.13 and a 200-day simple moving average of C$43.99. Aecon Group Inc. has a 52 week low of C$19.81 and a 52 week high of C$57.72. The stock has a market cap of C$3.20 billion, a PE ratio of -49.11, a PEG ratio of 18.18 and a beta of 1.41. The company has a debt-to-equity ratio of 84.23, a current ratio of 1.08 and a quick ratio of 1.27.

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

Aecon Group Dividend Announcement

The firm also recently disclosed 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 1.7%. Aecon Group's dividend payout ratio (DPR) is -80.53%.

Wall Street Analyst Weigh In

ARE has been the subject of a number of recent analyst reports. Canaccord Genuity Group upped their target price on Aecon Group from C$56.00 to C$57.00 and gave the company a "buy" rating in a report on Monday, June 29th. BMO Capital Markets boosted their price objective on shares of Aecon Group from C$45.00 to C$49.00 and gave the company a "market perform" rating in a research report on Wednesday, April 29th. Raymond James Financial upgraded shares of Aecon Group from a "hold" rating to a "moderate buy" rating and upped their price objective for the stock from C$52.00 to C$60.00 in a report on Friday, July 3rd. TD dropped their target price on shares of Aecon Group from C$62.00 to C$61.00 and set a "buy" rating for the company in a research report on Friday, June 26th. Finally, Stifel Nicolaus raised shares of Aecon Group from a "hold" rating to a "buy" rating and lifted their target price for the company from C$46.00 to C$54.00 in a research note on Friday, June 26th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$55.08.

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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