Aecon Group (TSE:ARE) Shares Cross Above 200 Day Moving Average – What’s Next?

Aecon Group Inc. (TSE:ARE) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$39.20 and traded as high as C$43.44. Aecon Group shares last traded at C$42.40, with a volume of 868,778 shares traded.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Desjardins upped their target price on shares of Aecon Group from C$45.00 to C$52.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. TD Securities upped their target price on shares of 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. ATB Cormark Capital Markets upped their target price on shares of Aecon Group from C$42.00 to C$49.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 30th. National Bank Financial upped their target price on shares of Aecon Group from C$48.00 to C$59.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Finally, Jefferies Financial Group upped their target price on shares of Aecon Group from C$49.00 to C$59.00 in a research report on Monday, April 27th. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Aecon Group has a consensus rating of “Hold” and an average target price of C$52.29.

Aecon Group Trading Down 1.7%

The company has a market cap of C$2.90 billion, a PE ratio of 77.09, a P/E/G ratio of 18.18 and a beta of 1.36. The company has a quick ratio of 1.27, a current ratio of 1.16 and a debt-to-equity ratio of 42.80. The stock’s 50 day moving average is C$47.00 and its 200-day moving average is C$39.20.

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

Aecon Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Thursday, April 2nd were paid a $0.1925 dividend. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $0.77 annualized dividend and a dividend yield of 1.8%. Aecon Group’s dividend payout ratio is currently 138.64%.

Insider Activity

In other news, Director Eric Stuart Rosenfeld sold 125,000 shares of the stock in a transaction on Friday, March 27th. The shares were sold at an average price of C$41.64, for a total value of C$5,205,000.00. Following the sale, the director owned 184,200 shares of the company’s stock, valued at approximately C$7,670,088. This represents a 40.43% decrease in their ownership of the stock. Also, Director John Michael Beck sold 20,000 shares of the company’s 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 completion of the transaction, the director owned 201,417 shares in the company, valued at approximately C$10,024,524.09. The trade was a 9.03% decrease in their ownership of the stock. In the last ninety days, insiders sold 148,451 shares of company stock worth $6,382,370. Insiders own 0.82% of the company’s stock.

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.