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

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

Other equities analysts have also recently issued reports about the stock. Stifel Nicolaus raised their target price on shares of Aecon Group from C$25.00 to C$30.00 in a research note on Monday, September 9th. ATB Capital raised their target price on shares of Aecon Group from C$21.00 to C$29.00 and gave the company an outperform rating in a research note on Monday, September 16th. National Bank Financial raised shares of Aecon Group from a hold rating to a strong-buy rating in a research report on Sunday, July 28th. National Bankshares raised shares of Aecon Group from a sector perform rating to an outperform rating and lifted their price objective for the stock from C$17.00 to C$20.50 in a research report on Monday, July 29th. Finally, CIBC reduced their price objective on shares of Aecon Group from C$23.00 to C$22.00 in a research report on Thursday, July 11th. Five investment 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 company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of C$21.07.

Aecon Group Price Performance

TSE:ARE opened at C$20.26 on Monday. Aecon Group has a 1-year low of C$8.42 and a 1-year high of C$20.56. The company has a current ratio of 1.35, a quick ratio of 1.27 and a debt-to-equity ratio of 32.86. The firm has a fifty day simple moving average of C$17.61 and a 200 day simple moving average of C$16.91. The stock has a market capitalization of C$1.27 billion, a PE ratio of -75.04, a P/E/G ratio of 18.18 and a beta of 1.12.

Aecon Group (TSE:ARE) last released 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. Aecon Group had a net margin of 0.32% and a return on equity of 1.40%. The business had revenue of C$853.80 million during the quarter, compared to analysts’ expectations of C$1.01 billion. On average, research analysts expect that Aecon Group will post 1.3797814 EPS for the current fiscal year.

Aecon Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, October 2nd will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date is Friday, September 20th. Aecon Group’s dividend payout ratio is currently -281.48%.

Insider Transactions at Aecon Group

In other news, Senior Officer Timothy John Murphy bought 4,244 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average price of C$17.66 per share, with a total value of C$74,969.84. In related news, Director Scott Stewart purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was acquired at an average price of C$16.54 per share, with a total value of C$165,380.00. Also, Senior Officer Timothy John Murphy purchased 4,244 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was bought at an average cost of C$17.66 per share, with a total value of C$74,969.84. Over the last 90 days, insiders bought 16,549 shares of company stock valued at $274,762. 0.82% of the stock is currently owned by corporate 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.