Aecon Group (TSE:ARE) Price Target Lowered to C$23.00 at Raymond James

Aecon Group (TSE:ARE) had its target price cut by Raymond James from C$28.00 to C$23.00 in a research note published on Friday,BayStreet.CA reports. They currently have a market perform rating on the stock.

A number of other analysts have also recently commented on the stock. CIBC reduced their target price on shares of Aecon Group from C$33.00 to C$30.00 in a report on Friday. National Bankshares cut shares of Aecon Group from an “outperform” rating to a “sector perform” rating and upped their target price for the company from C$28.00 to C$30.00 in a report on Wednesday, December 4th. Stifel Nicolaus cut shares of Aecon Group from a “buy” rating to a “hold” rating and reduced their target price for the company from C$31.00 to C$19.00 in a report on Friday. Desjardins reduced their target price on shares of Aecon Group from C$32.00 to C$29.00 and set a “buy” rating for the company in a report on Friday. Finally, BMO Capital Markets reduced their target price on shares of Aecon Group from C$29.00 to C$24.00 in a report on Friday. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$24.98.

Aecon Group Stock Down 3.9 %

ARE opened at C$17.96 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.19 and a debt-to-equity ratio of 32.84. The firm has a 50 day moving average price of C$24.38 and a 200-day moving average price of C$23.88. Aecon Group has a twelve month low of C$13.03 and a twelve month high of C$29.70. The stock has a market capitalization of C$1.14 billion, a price-to-earnings ratio of -17.67, a PEG ratio of 18.18 and a beta of 1.13.

Aecon Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, January 3rd were given a dividend of $0.19 per share. The ex-dividend date was Tuesday, December 24th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.23%. Aecon Group’s dividend payout ratio is -74.76%.

About Aecon Group

Aecon Group Inc is a Canada-based company that operates in two segments: Construction and Concessions. The Construction segment includes various aspects of the construction of public and private infrastructure projects, mainly in the transportation sector. Its concessions segment is engaged in the development, financing, construction, and operation of infrastructure projects.