Royal Bank of Canada Trims Aecon Group (TSE:ARE) Target Price to C$13.00

Aecon Group (TSE:ARE) had its price objective lowered by Royal Bank of Canada from C$16.00 to C$13.00 in a report issued on Tuesday morning, BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

ARE has been the topic of a number of other research reports. CIBC raised their target price on Aecon Group from C$22.00 to C$23.00 and gave the company an outperform rating in a report on Friday, April 26th. Paradigm Capital increased their price target on Aecon Group from C$14.00 to C$17.80 and gave the company a hold rating in a research report on Friday, April 26th. Raymond James increased their price target on Aecon Group from C$16.00 to C$17.00 and gave the company a market perform rating in a research report on Friday, April 26th. National Bankshares increased their price target on Aecon Group from C$15.00 to C$18.00 and gave the company a sector perform rating in a research report on Friday, April 26th. Finally, Stifel Nicolaus increased their price target on Aecon Group from C$17.00 to C$18.25 in a research report on Friday, April 26th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of C$18.32.

Aecon Group Stock Up 0.6 %

Shares of TSE:ARE opened at C$14.59 on Tuesday. The business’s 50 day simple moving average is C$16.59 and its two-hundred day simple moving average is C$15.49. The firm has a market cap of C$908.52 million, a P/E ratio of 6.79, a PEG ratio of 18.18 and a beta of 1.19. The company has a debt-to-equity ratio of 28.71, a quick ratio of 1.27 and a current ratio of 1.50. Aecon Group has a 52-week low of C$8.42 and a 52-week high of C$17.40.

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

Aecon Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Wednesday, July 3rd were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.21%. The ex-dividend date was Friday, June 21st. Aecon Group’s payout ratio 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.