Aecon Group (TSE:ARE) Trading 5.6% Higher

Shares of Aecon Group Inc. (TSE:ARE) traded up 5.6% during mid-day trading on Thursday . The stock traded as high as C$15.00 and last traded at C$14.99. 254,738 shares changed hands during mid-day trading, a decline of 14% from the average session volume of 295,144 shares. The stock had previously closed at C$14.19.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ARE. Raymond James boosted their target price on shares of Aecon Group from C$16.00 to C$17.00 and gave the stock a “market perform” rating in a research report on Friday, April 26th. BMO Capital Markets cut their target price on shares of Aecon Group from C$17.50 to C$16.50 in a research report on Wednesday. CIBC cut their target price on shares of Aecon Group from C$23.00 to C$22.00 in a research report on Thursday, July 11th. Canaccord Genuity Group cut their target price on shares of Aecon Group from C$26.00 to C$25.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Finally, TD Securities cut their price objective on shares of Aecon Group from C$18.00 to C$17.00 and set a “hold” rating for the company in a research report on Tuesday, July 2nd. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$18.15.

Aecon Group Stock Performance

The company has a debt-to-equity ratio of 28.71, a current ratio of 1.50 and a quick ratio of 1.27. The stock’s 50 day moving average is C$15.97 and its two-hundred day moving average is C$15.71. The firm has a market cap of C$942.15 million, a P/E ratio of 7.04, a PEG ratio of 18.18 and a beta of 1.19.

Aecon Group (TSE:ARE) last released its quarterly earnings results on Wednesday, April 24th. The company reported C($0.10) EPS for the quarter, beating the consensus estimate of C($0.14) by C$0.04. Aecon Group had a net margin of 3.77% and a return on equity of 16.62%. The business had revenue of C$846.59 million for the quarter, compared to analysts’ expectations of C$1.03 billion. As a group, equities analysts predict that Aecon Group Inc. will post 0.9104803 EPS for the current year.

Aecon Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Wednesday, July 3rd were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, June 21st. This represents a $0.76 annualized dividend and a dividend yield of 5.02%. Aecon Group’s dividend payout ratio (DPR) is currently 35.35%.

About Aecon Group

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.