Aecon Group Inc. (TSE:ARE) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Aecon Group Inc. (TSE:ARE) have received an average rating of “Hold” from the eleven ratings firms that are covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is C$52.29.

Several research firms have recently commented on ARE. Canadian Imperial Bank of Commerce increased their price target on shares of Aecon Group from C$45.00 to C$48.00 in a research note on Thursday, April 9th. Desjardins increased their price objective on shares of Aecon Group from C$45.00 to C$52.00 and gave the company a “hold” rating in a report on Thursday, April 30th. Raymond James Financial increased their price objective on shares of Aecon Group from C$44.00 to C$54.00 in a report on Wednesday, April 29th. Canaccord Genuity Group increased their price objective on shares of Aecon Group from C$52.00 to C$56.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, BMO Capital Markets increased their price objective on shares of Aecon Group from C$45.00 to C$49.00 and gave the company a “market perform” rating in a report on Wednesday, April 29th.

Aecon Group Price Performance

ARE opened at C$46.25 on Thursday. Aecon Group has a one year low of C$17.06 and a one year high of C$57.72. The company has a debt-to-equity ratio of 42.80, a current ratio of 1.16 and a quick ratio of 1.27. The company’s 50 day simple moving average is C$46.47 and its 200-day simple moving average is C$37.80. The stock has a market capitalization of C$3.17 billion, a P/E ratio of 84.09, a price-to-earnings-growth ratio of 18.18 and a beta of 1.16.

Aecon Group (TSE:ARE) last released its quarterly earnings results on Tuesday, April 28th. The company reported C($0.21) EPS for the quarter. Aecon Group had a net margin of 0.62% and a return on equity of 3.71%. The company had revenue of C$1.26 billion for the quarter. Sell-side analysts anticipate that Aecon Group will post 1.3793321 earnings per share for the current fiscal year.

Aecon Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Thursday, April 2nd were issued a $0.1925 dividend. This represents a $0.77 annualized dividend and a yield of 1.7%. The ex-dividend date was Monday, March 23rd. Aecon Group’s dividend payout ratio is currently 138.64%.

Insider Buying and Selling at Aecon Group

In related news, insider Timothy John Murphy sold 2,930 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of C$52.31, for a total value of C$153,268.30. Following the transaction, the insider directly owned 4,801 shares in the company, valued at C$251,140.31. This represents a 37.90% decrease in their ownership of the stock. Also, insider Ernest Chan sold 521 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of C$55.09, for a total transaction of C$28,701.89. Following the completion of the transaction, the insider owned 11,003 shares in the company, valued at C$606,155.27. This represents a 4.52% decrease in their ownership of the stock. Over the last ninety days, insiders have sold 148,451 shares of company stock valued at $6,382,370. 0.82% of the stock is currently owned by corporate insiders.

Aecon Group Company Profile

Aecon Group Inc is a Canada-based company that operates in two segments: Construction and Concessions. The Construction segment includes various aspects of the construction of public and private infrastructure projects, mainly in the transportation sector. Its concessions segment is engaged in the development, financing, construction, and operation of infrastructure projects. Aecon generates the majority of its revenue from the Construction segment.