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

Key Points

• Aecon Group Inc. stock price crossed above its 200-day moving average of C$20.17, reaching a high of C$24.72 during trading.
• Several analysts have upgraded their price targets for Aecon Group, with National Bankshares raising their target from C$23.00 to C$26.00 and maintaining an "outperform" rating.
• The company has declared a quarterly dividend of $0.19, representing an annual yield of 3.1% with a high payout ratio of 180.95%.

Aecon Group Inc. (TSE:ARE - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$20.17 and traded as high as C$24.72. Aecon Group shares last traded at C$24.66, with a volume of 311,394 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ARE. National Bankshares lifted their price objective on shares of Aecon Group from C$23.00 to C$26.00 and gave the company an "outperform" rating in a research note on Wednesday, September 24th. ATB Capital cut their target price on shares of Aecon Group from C$30.00 to C$28.00 and set an "outperform" rating for the company in a report on Tuesday, August 5th. Canaccord Genuity Group lifted their target price on shares of Aecon Group from C$25.00 to C$29.00 in a report on Monday, October 6th. TD Securities lifted their target price on shares of Aecon Group from C$22.00 to C$23.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Finally, Desjardins cut their target price on shares of Aecon Group from C$24.00 to C$22.00 and set a "buy" rating for the company in a report on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of C$24.91.

Aecon Group Stock Performance

The company has a market cap of C$1.57 billion, a PE ratio of 58.71, a price-to-earnings-growth ratio of 18.18 and a beta of 1.48. The firm's fifty day moving average is C$22.66 and its 200 day moving average is C$20.17. 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 business also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Thursday, October 2nd were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Monday, September 22nd. Aecon Group's 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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