Aecon Group (TSE:ARE) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Aecon Group Inc. (TSE:ARE)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$22.04 and traded as high as C$24.52. Aecon Group shares last traded at C$24.40, with a volume of 67,524 shares changing hands.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Canaccord Genuity Group boosted their price objective on shares of Aecon Group from C$28.00 to C$33.00 in a report on Monday, November 4th. Stifel Nicolaus boosted their price target on Aecon Group from C$30.00 to C$31.00 in a research note on Friday, October 4th. BMO Capital Markets increased their target price on shares of Aecon Group from C$27.00 to C$29.00 in a report on Friday, December 6th. TD Securities raised Aecon Group from a “hold” rating to a “buy” rating and lifted their price target for the company from C$23.00 to C$35.00 in a research note on Monday, November 4th. Finally, Raymond James raised their target price on Aecon Group from C$24.00 to C$28.00 in a research report on Tuesday, November 5th. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$27.53.

Aecon Group Stock Up 3.5 %

The stock has a market capitalization of C$1.58 billion, a P/E ratio of -93.63, a PEG ratio of 18.18 and a beta of 1.13. The company has a debt-to-equity ratio of 32.86, a current ratio of 1.35 and a quick ratio of 1.27. The stock has a 50 day moving average price of C$27.09 and a 200-day moving average price of C$22.09.

Aecon Group (TSE:ARE) last released its earnings results on Thursday, October 31st. The company reported C$0.86 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.78 by C$0.08. Aecon Group had a net margin of 0.32% and a return on equity of 1.40%. During the same period in the prior year, the firm posted $0.33 EPS. As a group, research analysts expect that Aecon Group Inc. will post 1.3793321 EPS for the current fiscal year.

Aecon Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, January 3rd were given a $0.19 dividend. The ex-dividend date was Tuesday, December 24th. This represents a $0.76 annualized dividend and a yield of 3.01%. Aecon Group’s payout ratio is presently -281.48%.

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.