Aecon Group (TSE:ARE) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Aecon Group Inc. (TSE:ARE) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$21.17 and traded as high as C$27.24. Aecon Group shares last traded at C$27.22, with a volume of 210,398 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. ATB Capital boosted their price target on shares of Aecon Group from C$21.00 to C$29.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. National Bankshares downgraded Aecon Group from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from C$28.00 to C$30.00 in a research report on Wednesday, December 4th. TD Securities upgraded Aecon Group from a “hold” rating to a “buy” rating and raised their price target for the company from C$23.00 to C$35.00 in a report on Monday, November 4th. Raymond James lifted their price objective on Aecon Group from C$24.00 to C$28.00 in a research note on Tuesday, November 5th. Finally, Canaccord Genuity Group increased their target price on Aecon Group from C$28.00 to C$33.00 in a research 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$27.53.

Aecon Group Price Performance

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 capitalization of C$1.70 billion, a PE ratio of -100.85, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13. The firm’s 50 day simple moving average is C$27.34 and its 200 day simple moving average is C$21.24.

Aecon Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, January 3rd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.79%. Aecon Group’s dividend payout ratio is presently -281.48%.

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.