Aecon Group (TSE:ARE) Price Target Raised to C$30.00 at Stifel Nicolaus

Aecon Group (TSE:ARE) had its target price lifted by Stifel Nicolaus from C$25.00 to C$30.00 in a report released on Monday morning, BayStreet.CA reports.

A number of other research analysts have also weighed in on the company. Canaccord Genuity Group reduced their target price on Aecon Group from C$26.00 to C$25.00 and set a buy rating on the stock in a report on Wednesday, July 3rd. National Bank Financial raised Aecon Group from a hold rating to a strong-buy rating in a research note on Sunday, July 28th. TD Securities lowered their target price on Aecon Group from C$17.00 to C$16.00 and set a hold rating for the company in a research report on Friday, July 26th. CIBC reduced their price target on shares of Aecon Group from C$23.00 to C$22.00 in a research report on Thursday, July 11th. Finally, Desjardins decreased their price target on shares of Aecon Group from C$20.00 to C$18.00 and set a buy rating on the stock in a research note on Tuesday, July 2nd. Five research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of C$20.07.

Aecon Group Stock Performance

The business has a fifty day simple moving average of C$16.73 and a 200-day simple moving average of C$16.60. The stock has a market capitalization of C$1.21 billion, a PE ratio of -71.44, a PEG ratio of 18.18 and a beta of 1.12. Aecon Group has a fifty-two week low of C$8.42 and a fifty-two week high of C$20.22. 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 (TSE:ARE) last issued its quarterly earnings results on Wednesday, July 24th. The company reported C($1.99) earnings per share for the quarter, topping the consensus estimate of C($2.53) by C$0.54. Aecon Group had a net margin of 0.32% and a return on equity of 1.40%. The business had revenue of C$853.80 million for the quarter, compared to analysts’ expectations of C$1.01 billion. Equities research analysts predict that Aecon Group will post 1.3804945 EPS for the current year.

Aecon Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Friday, September 20th will be issued a dividend of $0.19 per share. The ex-dividend date is Friday, September 20th. This represents a $0.76 annualized dividend and a yield of ∞. Aecon Group’s payout ratio is -281.48%.

Insider Buying and Selling

In other Aecon Group news, Director Scott Stewart bought 10,000 shares of Aecon Group stock in a transaction on Monday, July 29th. The shares were acquired at an average price of C$16.54 per share, for a total transaction of C$165,380.00. In other news, Senior Officer Timothy John Murphy bought 4,244 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was acquired at an average cost of C$17.66 per share, with a total value of C$74,969.84. Also, Director Scott Stewart purchased 10,000 shares of the company’s stock in a transaction dated 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. Insiders have bought 16,549 shares of company stock valued at $274,762 in the last ninety days. 0.82% of the stock is owned by company insiders.

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.