Stifel Nicolaus Boosts Aecon Group (TSE:ARE) Price Target to C$31.00

Aecon Group (TSE:ARE) had its price target upped by Stifel Nicolaus from C$30.00 to C$31.00 in a research note released on Friday, BayStreet.CA reports.

Several other analysts have also recently weighed in on ARE. National Bank Financial raised Aecon Group from a hold rating to a strong-buy rating in a report on Sunday, July 28th. CIBC lowered their price target on Aecon Group from C$23.00 to C$22.00 in a report on Thursday, July 11th. Canaccord Genuity Group raised their price target on Aecon Group from C$25.00 to C$28.00 and gave the company a buy rating in a report on Monday, September 23rd. National Bankshares raised Aecon Group from a sector perform rating to an outperform rating and raised their price target for the company from C$17.00 to C$20.50 in a report on Monday, July 29th. Finally, 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 report on Monday, July 29th. Five equities research 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 stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of C$21.16.

Aecon Group Stock Up 1.8 %

Shares of TSE ARE opened at C$21.89 on Friday. Aecon Group has a 52 week low of C$8.42 and a 52 week high of C$22.06. The business has a 50-day simple moving average of C$18.38 and a two-hundred day simple moving average of C$17.11. 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 company has a market cap of C$1.37 billion, a P/E ratio of -81.07, a P/E/G ratio of 18.18 and a beta of 1.13.

Aecon Group (TSE:ARE) last issued its earnings results on Wednesday, July 24th. The company reported C($1.99) EPS for the quarter, topping the consensus estimate of C($2.53) by C$0.54. Aecon Group had a return on equity of 1.40% and a net margin of 0.32%. The business had revenue of C$853.80 million during the quarter, compared to the consensus estimate of C$1.01 billion. Research analysts anticipate that Aecon Group will post 1.3793321 earnings per share for the current fiscal year.

Aecon Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, October 2nd were paid a $0.19 dividend. The ex-dividend date was Friday, September 20th. This represents a $0.76 dividend on an annualized basis and a yield of 3.47%. Aecon Group’s dividend payout ratio (DPR) is currently -281.48%.

Insiders Place Their Bets

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