Aecon Group (TSE:ARE) Stock Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Shares of Aecon Group Inc. have surpassed their 200-day moving average, reaching C$21.78 in trading, indicating positive momentum.
• Analysts have raised price targets for Aecon Group, with TD Securities increasing their target from C$22.00 to C$23.00 and a consensus target price of C$22.70 from the market.
• The company recently announced a quarterly dividend of $0.19, with a dividend yield of 3.5% despite a high payout ratio of 180.95%.

Aecon Group Inc. (TSE:ARE - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$19.12 and traded as high as C$21.82. Aecon Group shares last traded at C$21.78, with a volume of 330,966 shares.

Analyst Ratings Changes

Several research firms recently issued reports on ARE. TD Securities upped their target price 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. Desjardins reduced their price objective on Aecon Group from C$24.00 to C$22.00 and set a "buy" rating for the company in a research note on Tuesday, August 5th. BMO Capital Markets lifted their target price on Aecon Group from C$19.00 to C$22.00 in a report on Tuesday, July 22nd. ATB Capital cut 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. Finally, National Bank Financial raised shares of Aecon Group from a "hold" rating to a "strong-buy" rating in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of C$22.70.

Aecon Group Trading Up 0.5%

The firm has a market cap of C$1.54 billion, a PE ratio of 57.69, a price-to-earnings-growth ratio of 18.18 and a beta of 1.49. The company has a 50-day simple moving average of C$20.45 and a 200 day simple moving average of C$19.11. The company has a current ratio of 1.19, a quick ratio of 1.27 and a debt-to-equity ratio of 32.84.

Aecon Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Thursday, October 2nd will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend 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.