Aecon Group (TSE:ARE) Sets New 1-Year High – What’s Next?

Aecon Group Inc. (TSE:ARE)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as C$22.06 and last traded at C$22.06, with a volume of 158161 shares. The stock had previously closed at C$21.83.

Analyst Upgrades and Downgrades

ARE has been the topic of several recent research reports. National Bankshares raised Aecon Group from a “sector perform” rating to an “outperform” rating and increased their target price for the company from C$17.00 to C$20.50 in a research report on Monday, July 29th. CIBC dropped their price objective on Aecon Group from C$23.00 to C$22.00 in a research report on Thursday, July 11th. Stifel Canada upgraded shares of Aecon Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 25th. National Bank Financial raised shares of Aecon Group from a “hold” rating to a “strong-buy” rating in a research report on Sunday, July 28th. Finally, ATB Capital lifted their price objective on shares of Aecon Group from C$21.00 to C$29.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$21.16.

Aecon Group Stock Up 1.2 %

The stock has a market capitalization of C$1.42 billion, a PE ratio of -84.11, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13. The company has a debt-to-equity ratio of 32.86, a current ratio of 1.35 and a quick ratio of 1.27. The business’s fifty day moving average price is C$19.09 and its two-hundred day moving average price is C$17.30.

Aecon Group (TSE:ARE) last posted its quarterly earnings results on Wednesday, July 24th. The company reported C($1.99) earnings per share for the quarter, beating the consensus estimate of C($2.53) by C$0.54. Aecon Group had a return on equity of 1.40% and a net margin of 0.32%. The business had revenue of C$853.80 million for the quarter, compared to the consensus estimate of C$1.01 billion. On average, equities research analysts forecast that Aecon Group Inc. will post 1.3793321 EPS for the current fiscal year.

Aecon Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Wednesday, October 2nd were issued a $0.19 dividend. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.76 annualized dividend and a yield of 3.35%. Aecon Group’s dividend payout ratio (DPR) is presently -281.48%.

Insider Buying and Selling at Aecon Group

In other Aecon Group news, Senior Officer Timothy John Murphy purchased 4,244 shares of the stock in a transaction on Thursday, August 8th. The shares were bought at an average cost of C$17.66 per share, with a total value of C$74,969.84. In related news, Senior Officer Timothy John Murphy purchased 4,244 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was bought at an average cost of C$17.66 per share, with a total value of C$74,969.84. Also, Director Scott Stewart acquired 10,000 shares of the business’s stock in a transaction on Monday, July 29th. The stock was purchased at an average cost of C$16.54 per share, with a total value of C$165,380.00. In the last ninety days, insiders acquired 16,549 shares of company stock worth $274,762. Company insiders own 0.82% of the company’s stock.

Aecon Group Company Profile

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.