Aecon Group (TSE:ARE) Price Target Raised to C$25.00 at CIBC

Aecon Group (TSE:ARE) had its price target upped by CIBC from C$22.00 to C$25.00 in a research report report published on Wednesday, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on ARE. National Bankshares raised Aecon Group from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from C$17.00 to C$20.50 in a research note on Monday, July 29th. Stifel Nicolaus upped their price target on Aecon Group from C$30.00 to C$31.00 in a research note on Friday, October 4th. Desjardins lowered their price objective on Aecon Group from C$20.00 to C$18.00 and set a “buy” rating for the company in a research note on Tuesday, July 2nd. Royal Bank of Canada increased their target price on Aecon Group from C$13.00 to C$17.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Finally, TD Securities lowered their price target on Aecon Group from C$17.00 to C$16.00 and set a “hold” rating for the company in a research report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$21.44.

Aecon Group Stock Up 1.5 %

Shares of TSE ARE opened at C$22.83 on Wednesday. The firm has a fifty day simple moving average of C$19.32 and a two-hundred day simple moving average of C$17.39. Aecon Group has a 12 month low of C$8.42 and a 12 month high of C$23.07. The company has a current ratio of 1.35, a quick ratio of 1.27 and a debt-to-equity ratio of 32.86. The firm has a market capitalization of C$1.43 billion, a PE ratio of -84.56, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13.

Aecon Group (TSE:ARE) last released its quarterly earnings results on Wednesday, July 24th. The company reported C($1.99) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C($2.53) by C$0.54. The company 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%. Equities analysts expect that Aecon Group will post 1.3793321 earnings per share for the current year.

Aecon Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, October 2nd were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.76 dividend on an annualized basis and a yield of 3.33%. Aecon Group’s dividend payout ratio is presently -281.48%.

Insider Transactions at Aecon Group

In other news, Senior Officer Timothy John Murphy acquired 4,244 shares of Aecon Group stock in a transaction that occurred on Thursday, August 8th. The stock was bought at an average price of C$17.66 per share, for a total transaction of C$74,969.84. In other Aecon Group news, Director Scott Stewart purchased 10,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were acquired at an average price of C$16.54 per share, for a total transaction of C$165,380.00. Also, Senior Officer Timothy John Murphy acquired 4,244 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were acquired at an average cost of C$17.66 per share, with a total value of C$74,969.84. Insiders have bought a total of 16,549 shares of company stock worth $274,762 in the last ninety days. Insiders own 0.82% of the company’s stock.

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.