Aecon Group Inc (TSE:ARE) – Equities research analysts at Desjardins decreased their FY2018 earnings estimates for shares of Aecon Group in a research note issued on Sunday, October 28th. Desjardins analyst B. Poirier now forecasts that the company will post earnings per share of $0.73 for the year, down from their prior forecast of $0.80.
ARE has been the subject of a number of other reports. Raymond James increased their target price on Aecon Group from C$20.50 to C$23.00 and gave the stock a “strong-buy” rating in a report on Monday, July 30th. CIBC raised Aecon Group from a “neutral” rating to an “outperform” rating and set a C$20.00 target price for the company in a report on Thursday, July 5th. Canaccord Genuity increased their target price on Aecon Group from C$22.00 to C$23.00 in a report on Thursday, October 4th. AltaCorp Capital raised Aecon Group from an “underperform” rating to a “sector perform” rating in a report on Monday, July 30th. Finally, Industrial Alliance Securities increased their target price on Aecon Group from C$18.50 to C$19.50 in a report on Thursday, October 4th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of C$22.00.
In related news, Director John Michael Beck sold 20,922 shares of the stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of C$16.51, for a total transaction of C$345,422.22.
Aecon Group Company Profile
Aecon Group Inc provides construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally. It operates through four segments: Infrastructure, Energy, Mining, and Concessions. The Infrastructure segment is involved in the construction of roads and bridges, and rail and transit systems, as well as in asphalt production and aggregates, municipal construction, commercial site design, and material engineering and design activities.
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