Aecon Group (TSE:ARE) Price Target Raised to C$25.00 at CIBC

Aecon Group (TSE:ARE) had its price target increased by CIBC from C$22.00 to C$25.00 in a research report sent to investors on Wednesday, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

A number of other equities research analysts also recently commented on ARE. National Bankshares upgraded Aecon Group from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from C$17.00 to C$20.50 in a research report on Monday, July 29th. Stifel Canada raised Aecon Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 25th. BMO Capital Markets lowered their target price on Aecon Group from C$17.50 to C$16.50 in a research report on Wednesday, July 24th. Stifel Nicolaus boosted their price target on shares of Aecon Group from C$30.00 to C$31.00 in a research report on Friday, October 4th. Finally, National Bank Financial upgraded shares of Aecon Group from a “hold” rating to a “strong-buy” rating in a research report on Sunday, July 28th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Aecon Group currently has an average rating of “Moderate Buy” and a consensus target price of C$21.44.

Aecon Group Trading Up 1.5 %

Shares of ARE opened at C$22.83 on Wednesday. The firm has a market cap of C$1.43 billion, a P/E ratio of -84.56, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13. The company has a debt-to-equity ratio of 32.86, a current ratio of 1.35 and a quick ratio of 1.27. Aecon Group has a 1 year low of C$8.42 and a 1 year high of C$23.07. The company has a 50 day simple moving average of C$19.32 and a two-hundred day simple moving average of C$17.39.

Aecon Group (TSE:ARE) last posted its earnings results on Wednesday, July 24th. The company reported C($1.99) earnings per share for the quarter, beating the consensus estimate of C($2.53) by C$0.54. The company had revenue of C$853.80 million during the quarter, compared to analysts’ expectations of C$1.01 billion. Aecon Group had a net margin of 0.32% and a return on equity of 1.40%. On average, equities analysts expect that Aecon Group will post 1.3793321 earnings per share for the current fiscal year.

Aecon Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, October 2nd were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.33%. The ex-dividend date was Friday, September 20th. Aecon Group’s payout ratio is currently -281.48%.

Insider Buying and Selling at Aecon Group

In other Aecon Group news, Director Scott Stewart purchased 10,000 shares of Aecon Group stock in a transaction dated Monday, July 29th. The shares were purchased 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 purchased 10,000 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were purchased at an average cost of C$16.54 per share, for a total transaction of C$165,380.00. Also, Senior Officer Timothy John Murphy acquired 4,244 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average price of C$17.66 per share, with a total value of C$74,969.84. Insiders acquired 16,549 shares of company stock worth $274,762 over the last 90 days. Company insiders own 0.82% of the company’s stock.

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.