Aecon Group (TSE:ARE) Price Target Increased to C$25.00 by Analysts at CIBC

Aecon Group (TSE:ARE) had its target price raised by CIBC from C$22.00 to C$25.00 in a report released on Wednesday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other research analysts have also recently weighed in on ARE. National Bankshares upgraded shares of Aecon Group from a “sector perform” rating to an “outperform” rating and upped their price target for the company from C$17.00 to C$20.50 in a report on Monday, July 29th. BMO Capital Markets cut their price objective on shares of Aecon Group from C$17.50 to C$16.50 in a research report on Wednesday, July 24th. ATB Capital boosted their price objective on shares of Aecon Group from C$21.00 to C$29.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. National Bank Financial raised shares of Aecon Group from a “hold” rating to a “strong-buy” rating in a research report on Sunday, July 28th. Finally, Stifel Nicolaus boosted their price objective on shares of Aecon Group from C$30.00 to C$31.00 in a research report on Friday, October 4th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$21.44.

Aecon Group Price Performance

The firm has a market capitalization of C$1.43 billion, a PE ratio of -84.81, a PEG ratio of 18.18 and a beta of 1.13. Aecon Group has a 1-year low of C$8.42 and a 1-year high of C$23.20. The company has a debt-to-equity ratio of 32.86, a current ratio of 1.35 and a quick ratio of 1.27. The firm has a fifty day moving average of C$19.57 and a 200 day moving average of C$17.48.

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

Aecon Group Dividend Announcement

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

Insiders Place Their Bets

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 purchased at an average cost of C$17.66 per share, with a total value of C$74,969.84. In related news, Director Scott Stewart acquired 10,000 shares of the firm’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 acquired 4,244 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was bought at an average price of C$17.66 per share, for a total transaction of C$74,969.84. Over the last three months, insiders have bought 16,549 shares of company stock valued at $274,762. 0.82% of the stock is currently owned by corporate insiders.

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.