Canaccord Genuity Group Boosts Aecon Group (TSE:ARE) Price Target to C$28.00

Aecon Group (TSE:ARE) had its price objective increased by Canaccord Genuity Group from C$25.00 to C$28.00 in a research note published on Monday, BayStreet.CA reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other equities research analysts have also recently commented on the stock. ATB Capital boosted their price objective on shares of Aecon Group from C$21.00 to C$29.00 and gave the company an outperform rating in a research report on Monday, September 16th. National Bankshares upgraded Aecon Group from a sector perform rating to an outperform rating and boosted their price target for the company from C$17.00 to C$20.50 in a report on Monday, July 29th. Stifel Nicolaus upped their price objective on Aecon Group from C$25.00 to C$30.00 in a research report on Monday, September 9th. National Bank Financial raised Aecon Group from a hold rating to a strong-buy rating in a research report on Sunday, July 28th. Finally, Royal Bank of Canada upped their price target on Aecon Group from C$13.00 to C$17.00 and gave the stock a sector perform rating in a research report on Monday, July 29th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of C$21.07.

Aecon Group Stock Up 2.0 %

Shares of Aecon Group stock opened at C$20.66 on Monday. Aecon Group has a 1 year low of C$8.42 and a 1 year high of C$20.91. The company has a debt-to-equity ratio of 32.86, a current ratio of 1.35 and a quick ratio of 1.27. The company has a market capitalization of C$1.29 billion, a P/E ratio of -76.52, a price-to-earnings-growth ratio of 18.18 and a beta of 1.12. The business has a 50-day moving average of C$17.73 and a two-hundred day moving average of C$16.94.

Aecon Group (TSE:ARE) last posted its earnings results on Wednesday, July 24th. The company reported C($1.99) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C($2.53) by C$0.54. Aecon Group had a return on equity of 1.40% and a net margin of 0.32%. The business had revenue of C$853.80 million during the quarter, compared to analysts’ expectations of C$1.01 billion. As a group, equities analysts predict that Aecon Group will post 1.3797814 EPS for the current year.

Aecon Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.68%. The ex-dividend date is Friday, September 20th. Aecon Group’s dividend payout ratio (DPR) is currently -281.48%.

Insider Buying and Selling at Aecon Group

In other news, Director Scott Stewart acquired 10,000 shares of the stock in a transaction dated Monday, July 29th. The shares were bought at an average cost of C$16.54 per share, for a total transaction of C$165,380.00. In related news, Director Scott Stewart acquired 10,000 shares of Aecon Group stock in a transaction on Monday, July 29th. The stock was purchased at an average cost of C$16.54 per share, with a total value of C$165,380.00. Also, Senior Officer Timothy John Murphy acquired 4,244 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average cost of C$17.66 per share, for a total transaction of C$74,969.84. Insiders bought a total of 16,549 shares of company stock worth $274,762 over the last quarter. 0.82% of the stock is currently owned by insiders.

Aecon Group Company Profile

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.