Aecon Group (TSE:ARE) Given New C$17.00 Price Target at Raymond James

Aecon Group (TSE:AREGet Rating) had its price target trimmed by Raymond James from C$21.00 to C$17.00 in a research report sent to investors on Tuesday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages have also recently issued reports on ARE. CIBC cut shares of Aecon Group from an outperform rating to a neutral rating and reduced their price target for the stock from C$20.00 to C$16.00 in a research report on Wednesday, July 13th. Royal Bank of Canada reduced their price target on shares of Aecon Group from C$18.00 to C$16.00 and set a sector perform rating on the stock in a research report on Thursday, July 21st. Finally, Stifel Nicolaus reduced their price target on shares of Aecon Group from C$18.00 to C$14.00 in a research report on Monday, July 11th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from, Aecon Group has a consensus rating of Hold and an average price target of C$15.41.

Aecon Group Trading Up 0.5 %

TSE ARE opened at C$11.02 on Tuesday. The firm’s 50-day moving average is C$13.09 and its two-hundred day moving average is C$15.11. Aecon Group has a 12 month low of C$10.57 and a 12 month high of C$22.28. The company has a debt-to-equity ratio of 110.06, a current ratio of 1.38 and a quick ratio of 1.26. The stock has a market capitalization of C$671.72 million and a P/E ratio of 27.55.

Aecon Group (TSE:AREGet Rating) last posted its earnings results on Thursday, July 28th. The company reported C($0.10) EPS for the quarter, missing analysts’ consensus estimates of C$0.22 by C($0.32). The business had revenue of C$1.12 billion for the quarter, compared to the consensus estimate of C$997.47 million. On average, sell-side analysts anticipate that Aecon Group will post 0.83 earnings per share for the current year.

Aecon Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 5th. Shareholders of record on Tuesday, July 5th were paid a $0.185 dividend. The ex-dividend date of this dividend was Thursday, June 23rd. This represents a $0.74 annualized dividend and a yield of 6.72%. Aecon Group’s dividend payout ratio is currently 180.00%.

Aecon Group Company Profile

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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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