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

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

ARE has been the topic of several other research reports. BMO Capital Markets reduced their target price on shares of Aecon Group from C$17.50 to C$16.50 in a research note on Wednesday, July 24th. CIBC reduced their target price on shares of Aecon Group from C$23.00 to C$22.00 in a research note on Thursday, July 11th. ATB Capital raised their target price on shares of Aecon Group from C$21.00 to C$29.00 and gave the company an outperform rating in a research note on Monday, September 16th. Stifel Canada raised shares of Aecon Group from a hold rating to a strong-buy rating in a research note on Thursday, July 25th. Finally, National Bank Financial raised shares of Aecon Group from a hold rating to a strong-buy rating in a research note on Sunday, July 28th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of C$21.07.

Aecon Group Stock Down 0.7 %

ARE opened at C$20.26 on Monday. The firm’s 50-day simple moving average is C$17.61 and its 200-day simple moving average is C$16.91. The company has a debt-to-equity ratio of 32.86, a quick ratio of 1.27 and a current ratio of 1.35. Aecon Group has a twelve month low of C$8.42 and a twelve month high of C$20.56. The firm has a market cap of C$1.27 billion, a price-to-earnings ratio of -75.04, a PEG ratio of 18.18 and a beta of 1.12.

Aecon Group (TSE:ARE) last issued its quarterly earnings data on Wednesday, July 24th. The company reported C($1.99) EPS for the quarter, topping analysts’ consensus estimates of C($2.53) by C$0.54. Aecon Group had a net margin of 0.32% and a return on equity of 1.40%. The firm had revenue of C$853.80 million for the quarter, compared to analyst estimates of C$1.01 billion. Equities research analysts anticipate that Aecon Group will post 1.3797814 EPS for the current fiscal year.

Aecon Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, October 2nd will be given a $0.19 dividend. The ex-dividend date of this dividend is Friday, September 20th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.75%. Aecon Group’s dividend payout ratio is -281.48%.

Insider Activity at Aecon Group

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

Aecon Group Company Profile

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.