Aecon Group (TSE:ARE) Director Scott Stewart Purchases 4,455 Shares of Stock

Key Points

• Director Scott Stewart purchased 4,455 Aecon Group shares at an average price of C$44.89, investing nearly C$200,000 and increasing his direct holdings by 22.24% to 24,484 shares.
• Aecon shares recently fell 5.0% to C$41.28, while the company reported quarterly EPS of C$0.33 and revenue of C$1.63 billion. Its latest quarterly dividend was C$0.1925 per share, equivalent to an annualized yield of about 1.9%.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of C$55.08, well above the recent trading price.

Aecon Group Inc. (TSE:ARE - Get Free Report) Director Scott Stewart bought 4,455 shares of the firm's stock in a transaction on Friday, August 28th. The shares were acquired at an average cost of C$44.89 per share, with a total value of C$199,984.95. Following the purchase, the director directly owned 24,484 shares of the company's stock, valued at approximately C$1,099,086.76. This represents a 22.24% increase in their position.

Aecon Group Stock Down 5.0%

Shares of Aecon Group stock traded down C$2.15 on Tuesday, reaching C$41.28. The company's stock had a trading volume of 206,569 shares, compared to its average volume of 475,832. The company has a quick ratio of 1.27, a current ratio of 1.08 and a debt-to-equity ratio of 84.23. Aecon Group Inc. has a 52 week low of C$19.81 and a 52 week high of C$57.72. The company has a market capitalization of C$2.83 billion, a price-to-earnings ratio of -43.45, a P/E/G ratio of 18.18 and a beta of 1.41. The firm's fifty day simple moving average is C$47.39 and its two-hundred day simple moving average is C$45.18.

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 company had revenue of C$1.63 billion during the quarter. Aecon Group had a negative return on equity of 6.76% and a negative net margin of 1.10%. Equities analysts anticipate that Aecon Group Inc. will post 1.3793321 earnings per share for the current year.

Aecon Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 3rd. Investors of record on Friday, July 3rd were issued a $0.1925 dividend. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.77 dividend on an annualized basis and a yield of 1.9%. Aecon Group's payout ratio is currently -80.53%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ARE. National Bank Financial raised their price target on Aecon Group from C$59.00 to C$65.00 and gave the stock an "outperform" rating in a research report on Monday, July 13th. Raymond James Financial upgraded shares of Aecon Group from a "hold" rating to a "moderate buy" rating and boosted their price objective for the stock from C$52.00 to C$60.00 in a research note on Friday, July 3rd. Stifel Nicolaus raised Aecon Group from a "hold" rating to a "buy" rating and raised their price target for the stock from C$46.00 to C$54.00 in a report on Friday, June 26th. TD cut their price target on shares of Aecon Group from C$62.00 to C$61.00 and set a "buy" rating on the stock in a research note on Friday, June 26th. Finally, Desjardins lifted their price objective on shares of Aecon Group from C$55.00 to C$61.00 and gave the stock a "hold" rating in a research note on Monday, July 6th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Aecon Group has a consensus rating of "Moderate Buy" and an average price target 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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