Aecon Group (TSE:ARE) Stock Price Down 15.7%

Aecon Group Inc. (TSE:ARE) fell 15.7% during mid-day trading on Tuesday . The company traded as low as C$13.84 and last traded at C$14.31. 524,191 shares changed hands during mid-day trading, an increase of 78% from the average session volume of 293,976 shares. The stock had previously closed at C$16.98.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. ATB Capital boosted their target price on shares of Aecon Group from C$19.50 to C$21.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Desjardins boosted their target price on shares of Aecon Group from C$16.00 to C$20.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Raymond James boosted their target price on shares of Aecon Group from C$16.00 to C$17.00 and gave the stock a “market perform” rating in a report on Friday, April 26th. TD Securities boosted their target price on shares of Aecon Group from C$14.00 to C$18.50 and gave the stock a “hold” rating in a report on Friday, March 8th. Finally, Paradigm Capital raised their target price on shares of Aecon Group from C$14.00 to C$17.80 and gave the company a “hold” rating in a report on Friday, April 26th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$19.17.

Aecon Group Stock Performance

The business has a fifty day simple moving average of C$16.74 and a two-hundred day simple moving average of C$15.48. The company has a market cap of C$884.23 million, a PE ratio of 6.57, a price-to-earnings-growth ratio of 18.18 and a beta of 1.19. The company has a debt-to-equity ratio of 28.71, a current ratio of 1.50 and a quick ratio of 1.27.

Aecon Group (TSE:ARE) last issued its quarterly earnings results on Wednesday, April 24th. The company reported C($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of C($0.14) by C$0.04. The business had revenue of C$846.59 million for the quarter, compared to analyst estimates of C$1.03 billion. Aecon Group had a return on equity of 16.62% and a net margin of 3.77%. Research analysts anticipate that Aecon Group Inc. will post 0.9104803 earnings per share for the current year.

Aecon Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Wednesday, July 3rd will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 5.35%. The ex-dividend date of this dividend is Friday, June 21st. Aecon Group’s dividend payout ratio (DPR) is currently 35.35%.

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.