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

Aecon Group Inc. (TSE:ARE) has earned an average recommendation of “Hold” from the eleven ratings firms that are covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is C$52.29.

Several research firms have commented on ARE. Canaccord Genuity Group raised their price objective on Aecon Group from C$52.00 to C$56.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Stifel Nicolaus dropped their target price on Aecon Group from C$46.00 to C$44.50 and set a “hold” rating on the stock in a research report on Thursday, April 30th. TD Securities lifted their target price on Aecon Group from C$47.00 to C$49.00 and gave the stock a “buy” rating in a research report on Monday, March 30th. Raymond James Financial lifted their target price on Aecon Group from C$44.00 to C$54.00 in a research report on Wednesday, April 29th. Finally, BMO Capital Markets lifted their target price on Aecon Group from C$45.00 to C$49.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 29th.

Aecon Group Stock Performance

TSE:ARE opened at C$43.71 on Monday. The business’s 50-day moving average is C$47.15 and its two-hundred day moving average is C$39.89. The company has a debt-to-equity ratio of 42.80, a current ratio of 1.16 and a quick ratio of 1.27. Aecon Group has a 12 month low of C$17.06 and a 12 month high of C$57.72. The firm has a market capitalization of C$2.99 billion, a PE ratio of 79.47, a price-to-earnings-growth ratio of 18.18 and a beta of 1.36.

Aecon Group (TSE:ARE) last released its quarterly earnings data 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 during the quarter. Research analysts predict that Aecon Group will post 1.3793321 earnings per share for the current fiscal year.

Aecon Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 3rd. Stockholders of record on Friday, July 3rd will be given a dividend of $0.1925 per share. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, June 23rd. Aecon Group’s payout ratio is presently 138.64%.

Insiders Place Their Bets

In other news, Director John Michael Beck sold 20,000 shares of Aecon Group stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of C$49.77, for a total transaction of C$995,400.00. Following the sale, the director directly owned 201,417 shares of the company’s stock, valued at approximately C$10,024,524.09. The trade was a 9.03% decrease in their ownership of the stock. Also, insider Timothy John Murphy sold 2,930 shares of Aecon Group stock in a transaction dated Monday, May 11th. The stock was sold at an average price of C$52.31, for a total value of C$153,268.30. Following the sale, the insider directly owned 4,801 shares in the company, valued at approximately C$251,140.31. The trade was a 37.90% decrease in their ownership of the stock. Insiders sold a total of 148,451 shares of company stock valued at $6,382,370 in the last three months. 0.82% of the stock is owned by insiders.

About Aecon Group

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.