Aecon Group (TSE:ARE) Hits New 1-Year High – What’s Next?

Aecon Group Inc. (TSE:ARE) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$22.84 and last traded at C$22.82, with a volume of 49585 shares traded. The stock had previously closed at C$22.71.

Analyst Upgrades and Downgrades

ARE has been the topic of several research analyst reports. Desjardins cut their price objective on Aecon Group from C$20.00 to C$18.00 and set a “buy” rating on the stock in a research report on Tuesday, July 2nd. CIBC cut their price objective on shares of Aecon Group from C$23.00 to C$22.00 in a research report on Thursday, July 11th. TD Securities dropped their price target on Aecon Group from C$17.00 to C$16.00 and set a “hold” rating on the stock in a research note on Friday, July 26th. National Bankshares upgraded shares of Aecon Group from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from C$17.00 to C$20.50 in a report on Monday, July 29th. Finally, Royal Bank of Canada upped their price objective on Aecon Group from C$13.00 to C$17.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$21.16.

Aecon Group Stock Down 1.0 %

The company has a market cap of C$1.40 billion, a price-to-earnings ratio of -83.30, a PEG ratio of 18.18 and a beta of 1.13. 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’s fifty day simple moving average is C$19.21 and its 200 day simple moving average is C$17.35.

Aecon Group (TSE:ARE) last issued its quarterly earnings data on Wednesday, July 24th. The company reported C($1.99) earnings per share (EPS) for the quarter, topping the consensus estimate of C($2.53) by C$0.54. The company had revenue of C$853.80 million for 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%. Sell-side analysts predict that Aecon Group Inc. will post 1.3793321 earnings per share for the current year.

Aecon Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, October 2nd were issued a $0.19 dividend. The ex-dividend date was Friday, September 20th. This represents a $0.76 annualized dividend and a yield of 3.38%. Aecon Group’s dividend payout ratio (DPR) is presently -281.48%.

Insider Buying and Selling

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