Aecon Group (TSE:ARE) Price Target Raised to C$22.00 at CIBC

Aecon Group (TSE:ARE) had its target price increased by CIBC from C$21.00 to C$22.00 in a research report sent to investors on Thursday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Other equities research analysts have also issued research reports about the stock. BMO Capital Markets boosted their price objective on shares of Aecon Group from C$14.50 to C$17.50 and gave the stock an outperform rating in a research note on Thursday, March 7th. Raymond James boosted their price objective on shares of Aecon Group from C$14.00 to C$16.00 and gave the stock a market perform rating in a research note on Thursday, March 7th. Desjardins boosted their price objective on shares of Aecon Group from C$16.00 to C$20.00 and gave the stock a buy rating in a research note on Thursday, March 7th. Stifel Nicolaus boosted their price objective on shares of Aecon Group from C$13.00 to C$16.50 and gave the stock a hold rating in a research note on Thursday, March 7th. Finally, Canaccord Genuity Group lifted their target price on shares of Aecon Group from C$14.00 to C$26.00 and gave the stock a buy rating in a report on Thursday, March 7th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of C$18.18.

Aecon Group Trading Up 2.5 %

Shares of ARE opened at C$17.03 on Thursday. The firm’s 50-day moving average price is C$15.81 and its 200-day moving average price is C$13.33. The firm has a market capitalization of C$1.06 billion, a price-to-earnings ratio of 8.11, a PEG ratio of 18.18 and a beta of 1.16. The company has a current ratio of 1.42, a quick ratio of 1.27 and a debt-to-equity ratio of 39.29. Aecon Group has a 1-year low of C$8.42 and a 1-year high of C$17.40.

Aecon Group (TSE:ARE) last announced its earnings results on Tuesday, March 5th. The company reported C$0.15 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.17 by C($0.02). Aecon Group had a net margin of 3.49% and a return on equity of 16.04%. The company had revenue of C$1.13 billion for the quarter, compared to the consensus estimate of C$1.22 billion. Sell-side analysts anticipate that Aecon Group will post 0.7603047 EPS for the current year.

Aecon Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Friday, March 22nd were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 4.46%. This is a boost from Aecon Group’s previous quarterly dividend of $0.19. The ex-dividend date was Thursday, March 21st. Aecon Group’s payout ratio is presently 36.19%.

Insider Activity

In other news, Senior Officer Martina Doyle sold 2,265 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of C$16.42, for a total transaction of C$37,191.30. In other news, Senior Officer Martina Doyle sold 2,265 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of C$16.42, for a total transaction of C$37,191.30. Also, Senior Officer Adam Robert Borgatti acquired 4,231 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were bought at an average cost of C$13.07 per share, with a total value of C$55,299.17. 1.72% of the stock is owned by corporate insiders.

About Aecon Group

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.