Canaccord Genuity Group Increases Aecon Group (TSE:ARE) Price Target to C$28.00

Aecon Group (TSE:ARE) had its price objective boosted by Canaccord Genuity Group from C$25.00 to C$28.00 in a report released on Monday, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also weighed in on ARE. Royal Bank of Canada raised their price objective on Aecon Group from C$13.00 to C$17.00 and gave the company a sector perform rating in a research note on Monday, July 29th. BMO Capital Markets reduced their price target on shares of Aecon Group from C$17.50 to C$16.50 in a research note on Wednesday, July 24th. Stifel Nicolaus upped their price objective on shares of Aecon Group from C$25.00 to C$30.00 in a research report on Monday, September 9th. National Bank Financial upgraded shares of Aecon Group from a hold rating to a strong-buy rating in a research report on Sunday, July 28th. Finally, Stifel Canada raised shares of Aecon Group from a hold rating to a strong-buy rating in a research note on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Aecon Group presently has a consensus rating of Moderate Buy and a consensus price target of C$21.07.

Aecon Group Price Performance

ARE stock opened at C$20.66 on Monday. The company’s 50-day moving average price is C$17.73 and its two-hundred day moving average price is C$16.94. Aecon Group has a 12 month low of C$8.42 and a 12 month high of C$20.91. The company has a quick ratio of 1.27, a current ratio of 1.35 and a debt-to-equity ratio of 32.86. The firm has a market cap of C$1.29 billion, a P/E ratio of -76.52, a P/E/G ratio of 18.18 and a beta of 1.12.

Aecon Group (TSE:ARE) last announced its quarterly earnings data on Wednesday, July 24th. The company reported C($1.99) EPS for the quarter, beating the consensus estimate of C($2.53) by C$0.54. The business had revenue of C$853.80 million during the quarter, compared to the consensus estimate of C$1.01 billion. Aecon Group had a net margin of 0.32% and a return on equity of 1.40%. On average, analysts anticipate that Aecon Group will post 1.3797814 earnings per share for the current fiscal year.

Aecon Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, October 2nd will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.68%. The ex-dividend date is Friday, September 20th. Aecon Group’s dividend payout ratio is currently -281.48%.

Insiders Place Their Bets

In related news, Director Scott Stewart acquired 10,000 shares of the stock in a transaction dated Monday, July 29th. The stock was bought at an average cost of C$16.54 per share, for a total transaction of C$165,380.00. In other news, Director Scott Stewart acquired 10,000 shares of Aecon Group stock in a transaction dated Monday, July 29th. The shares were bought at an average cost of C$16.54 per share, with a total value of C$165,380.00. Also, Senior Officer Timothy John Murphy acquired 4,244 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were purchased at an average price of C$17.66 per share, with a total value of C$74,969.84. In the last three months, insiders have purchased 16,549 shares of company stock valued at $274,762. 0.82% of the stock is currently owned by company insiders.

About Aecon Group

Aecon Group Inc, together with its subsidiaries, provide construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally. It operates through two segments, Construction and Concessions. The Construction segment focuses on civil infrastructure, urban transportation solutions, nuclear power infrastructure, utility infrastructure, and conventional industrial infrastructure market sectors.