Aecon Group (TSE:ARE) Share Price Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• Aecon Group's share price has recently crossed above its 200-day moving average of C$19.35, reaching a high of C$23.29 and last trading at C$23.21.
• A number of analysts have lowered their price targets for Aecon shares, with Desjardins now at C$22.00 and ATB Capital at C$28.00, while National Bank Financial has given it a strong-buy rating.
• The company announced a quarterly dividend of $0.19 per share, yielding 3.3%, with a payout ratio currently at 180.95%.

Aecon Group Inc. (TSE:ARE - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$19.35 and traded as high as C$23.29. Aecon Group shares last traded at C$23.21, with a volume of 405,498 shares trading hands.

Analysts Set New Price Targets

A number of analysts have issued reports on ARE shares. Desjardins reduced their price target on shares of Aecon Group from C$24.00 to C$22.00 and set a "buy" rating on the stock in a report on Tuesday, August 5th. ATB Capital reduced their price target on shares of Aecon Group from C$30.00 to C$28.00 and set an "outperform" rating on the stock in a report on Tuesday, August 5th. National Bank Financial upgraded shares of Aecon Group from a "hold" rating to a "strong-buy" rating in a report on Friday, August 1st. National Bankshares lifted their price target on shares of Aecon Group from C$23.00 to C$26.00 and gave the company an "outperform" rating in a report on Wednesday, September 24th. Finally, BMO Capital Markets lifted their price target on shares of Aecon Group from C$19.00 to C$22.00 in a report on Tuesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of C$23.00.

Aecon Group Stock Performance

The business's fifty day moving average price is C$20.93 and its two-hundred day moving average price is C$19.35. The company has a debt-to-equity ratio of 32.84, a quick ratio of 1.27 and a current ratio of 1.19. The stock has a market capitalization of C$1.48 billion, a P/E ratio of 55.26, a P/E/G ratio of 18.18 and a beta of 1.49.

Aecon Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors 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 is Monday, September 22nd. Aecon Group's dividend payout ratio is presently 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.

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