Aecon Group (TSE:ARE) Reaches New 12-Month High - Time to Buy?

Key Points

• Aecon Group shares reached a new 52-week high, trading as high as C$58.60, above the analyst consensus target of C$55.08.
• Analyst sentiment is generally positive: six analysts rate the stock a Buy and five rate it a Hold, producing a consensus rating of “Moderate Buy.”
• The company reported C$1.63 billion in quarterly revenue and C$0.33 in earnings per share, while declaring a quarterly dividend of C$0.1925, equivalent to a 1.3% annual yield.

Shares of Aecon Group Inc. (TSE:ARE - Get Free Report) hit a new 52-week high during mid-day trading on Friday. The stock traded as high as C$58.60 and last traded at C$58.41, with a volume of 24516 shares. The stock had previously closed at C$56.82.

Wall Street Analyst Weigh In

ARE has been the topic of several recent research reports. National Bank Financial increased their price objective on Aecon Group from C$59.00 to C$65.00 and gave the company an "outperform" rating in a research report on Monday, July 13th. TD cut their target price on Aecon Group from C$62.00 to C$61.00 and set a "buy" rating for the company in a research note on Friday, June 26th. Canaccord Genuity Group lifted their price target on shares of Aecon Group from C$56.00 to C$57.00 and gave the stock a "buy" rating in a research note on Monday, June 29th. 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 report on Friday, July 3rd. Finally, Stifel Nicolaus raised shares of Aecon Group from a "hold" rating to a "buy" rating and increased their target price for the company from C$46.00 to C$54.00 in a report 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. According to data from MarketBeat, Aecon Group has an average rating of "Moderate Buy" and a consensus target price of C$55.08.

Aecon Group Price Performance

The business has a 50-day simple moving average of C$46.98 and a 200 day simple moving average of C$46.77. The firm has a market cap of C$3.97 billion, a P/E ratio of -61.05, a price-to-earnings-growth ratio of 18.18 and a beta of 1.39. The company has a debt-to-equity ratio of 84.23, a quick ratio of 1.27 and a current ratio of 1.08.

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

Aecon Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, October 2nd will be paid a $0.1925 dividend. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a $0.77 dividend on an annualized basis and a yield of 1.3%. Aecon Group's dividend payout ratio (DPR) is presently -80.53%.

Insider Buying and Selling at Aecon Group

In related news, Director Scott Stewart purchased 4,455 shares of the business's stock in a transaction that occurred on Friday, August 28th. The shares were acquired at an average price of C$44.89 per share, for a total transaction of C$199,984.95. Following the completion of the acquisition, the director directly owned 24,484 shares in the company, valued at approximately C$1,099,086.76. The trade was a 22.24% increase in their position. Also, insider Steven Neil Nackan sold 4,500 shares of the business's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of C$45.55, for a total transaction of C$204,975.00. Following the transaction, the insider directly owned 8,035 shares in the company, valued at approximately C$365,994.25. The trade was a 35.90% decrease in their ownership of the stock. In the last quarter, insiders sold 7,500 shares of company stock worth $343,875. 0.82% of the stock is currently owned by company insiders.

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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