Aecon Group (TSE:ARE) Stock Price Expected to Rise, CIBC Analyst Says

Aecon Group (TSE:AREFree Report) had its target price increased by CIBC from C$29.00 to C$35.00 in a report released on Friday morning,BayStreet.CA reports.

Other equities analysts have also issued research reports about the company. TD Securities upgraded Aecon Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$23.00 to C$35.00 in a research note on Monday, November 4th. BMO Capital Markets lifted their price target on Aecon Group from C$27.00 to C$29.00 in a research report on Friday, December 6th. Raymond James raised their price objective on shares of Aecon Group from C$24.00 to C$28.00 in a research note on Tuesday, November 5th. National Bankshares lowered shares of Aecon Group from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from C$28.00 to C$30.00 in a report on Wednesday, December 4th. Finally, Canaccord Genuity Group lifted their price objective on shares of Aecon Group from C$28.00 to C$33.00 in a report on Monday, November 4th. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued 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 an average target price of C$27.53.

Read Our Latest Analysis on ARE

Aecon Group Stock Performance

ARE opened at C$27.03 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.27 and a debt-to-equity ratio of 32.86. Aecon Group has a 12-month low of C$11.75 and a 12-month high of C$29.70. The firm has a 50 day moving average of C$26.10 and a two-hundred day moving average of C$20.23. The firm has a market capitalization of C$1.69 billion, a PE ratio of -100.11, a P/E/G ratio of 18.18 and a beta of 1.13.

Aecon Group Dividend Announcement

The firm 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 annualized dividend and a yield of 2.81%. Aecon Group’s dividend payout ratio (DPR) is presently -281.48%.

Aecon Group Company Profile

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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.

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Analyst Recommendations for Aecon Group (TSE:ARE)

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