TD Securities Downgrades Aecon Group (TSE:ARE) to Hold

TD Securities downgraded shares of Aecon Group (TSE:AREGet Rating) from a buy rating to a hold rating in a research report report published on Tuesday morning, BayStreet.CA reports. The brokerage currently has C$12.50 price target on the stock, down from their prior price target of C$19.50.

Other research analysts have also issued research reports about the company. Raymond James lowered their price objective on Aecon Group from C$21.00 to C$17.00 and set an outperform rating on the stock in a report on Tuesday. Stifel Nicolaus lowered their price objective on Aecon Group from C$14.00 to C$11.00 in a report on Tuesday. ATB Capital lowered their price objective on Aecon Group from C$18.25 to C$14.00 in a report on Tuesday. CIBC lowered their price objective on Aecon Group from C$16.00 to C$14.00 in a report on Tuesday. Finally, National Bankshares lowered their price objective on Aecon Group from C$18.00 to C$13.00 and set a sector perform rating on the stock in a report on Tuesday. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Aecon Group presently has a consensus rating of Hold and a consensus target price of C$15.41.

Aecon Group Stock Performance

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

Aecon Group (TSE:AREGet Rating) last issued its earnings results on Thursday, July 28th. The company reported C($0.10) earnings per share for the quarter, missing the consensus estimate of C$0.22 by C($0.32). The business had revenue of C$1.12 billion during the quarter, compared to the consensus estimate of C$997.47 million. Analysts predict that Aecon Group will post 0.83 earnings per share for the current fiscal year.

Aecon Group Announces Dividend

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

Aecon Group Company Profile

(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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Analyst Recommendations for Aecon Group (TSE:ARE)

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