Aecon Group (TSE:ARE) Trading Down 11.9% – Here’s What Happened

Aecon Group Inc. (TSE:ARE) shares were down 11.9% during mid-day trading on Thursday . The company traded as low as C$19.25 and last traded at C$19.61. Approximately 155,384 shares traded hands during trading, a decline of 59% from the average daily volume of 376,128 shares. The stock had previously closed at C$22.27.

Analyst Ratings Changes

A number of research analysts have recently commented on ARE shares. Raymond James reduced their target price on shares of Aecon Group from C$28.00 to C$23.00 and set a “market perform” rating on the stock in a research report on Friday. CIBC reduced their target price on shares of Aecon Group from C$33.00 to C$30.00 in a research report on Friday. BMO Capital Markets reduced their target price on shares of Aecon Group from C$29.00 to C$24.00 in a research report on Friday. National Bankshares reduced their target price on shares of Aecon Group from C$30.00 to C$23.00 and set a “sector perform” rating on the stock in a research report on Friday. Finally, Stifel Canada cut shares of Aecon Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$24.98.

Aecon Group Stock Down 3.9 %

The company has a debt-to-equity ratio of 32.84, a current ratio of 1.19 and a quick ratio of 1.27. The firm’s fifty day moving average is C$24.38 and its 200-day moving average is C$23.88. The stock has a market capitalization of C$1.14 billion, a price-to-earnings ratio of -17.67, a PEG ratio of 18.18 and a beta of 1.13.

Aecon Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, January 3rd were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, December 24th. This represents a $0.76 annualized dividend and a yield of 4.23%. Aecon Group’s payout ratio is -74.76%.

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.