Aecon Group Inc. (TSE:ARE) to Issue $0.19 Quarterly Dividend

Aecon Group Inc. (TSE:AREGet Rating) announced a quarterly dividend on Thursday, June 23rd, TickerTech reports. Stockholders of record on Tuesday, July 5th will be paid a dividend of 0.185 per share on Tuesday, July 5th. This represents a $0.74 annualized dividend and a dividend yield of 5.53%. The ex-dividend date is Thursday, June 23rd.

Shares of Aecon Group stock traded down C$0.40 during trading on Wednesday, hitting C$13.38. The stock had a trading volume of 219,448 shares, compared to its average volume of 306,477. Aecon Group has a 1 year low of C$13.22 and a 1 year high of C$22.28. The stock has a 50 day simple moving average of C$14.84 and a 200 day simple moving average of C$16.11. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 95.83. The company has a market capitalization of C$814.44 million and a PE ratio of 16.22.

Aecon Group (TSE:AREGet Rating) last issued its earnings results on Wednesday, April 27th. The company reported C($0.29) EPS for the quarter, missing the consensus estimate of C($0.27) by C($0.02). The firm had revenue of C$985.90 million during the quarter, compared to analyst estimates of C$783.15 million. As a group, equities analysts expect that Aecon Group will post 1.2 earnings per share for the current fiscal year.

A number of research firms have recently weighed in on ARE. CIBC cut their price target on Aecon Group from C$22.00 to C$20.00 and set an “outperform” rating for the company in a research note on Thursday, March 3rd. Laurentian Bank of Canada cut their price objective on shares of Aecon Group to C$17.00 and set a “buy” rating on the stock in a research report on Thursday, March 3rd. National Bankshares downgraded shares of Aecon Group from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from C$21.00 to C$18.00 in a research report on Wednesday, March 2nd. Canaccord Genuity Group dropped their price target on shares of Aecon Group from C$25.00 to C$20.00 in a research note on Thursday, March 3rd. Finally, Royal Bank of Canada reduced their price objective on shares of Aecon Group from C$20.00 to C$18.00 and set a “sector perform” rating for the company in a research note on Wednesday, March 2nd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$19.51.

About Aecon Group (Get Rating)

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 primarily on the civil infrastructure, urban transportation systems, nuclear power infrastructure, utility infrastructure, and conventional industrial infrastructure market sectors.

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Dividend History for Aecon Group (TSE:ARE)

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