Aecon Group (TSE:ARE) Receives Strong-Buy Rating from Raymond James

Raymond James restated their strong-buy rating on shares of Aecon Group (TSE:ARE) in a research note released on Friday morning, BayStreet.CA reports. The brokerage currently has a C$26.00 target price on the stock. Raymond James also issued estimates for Aecon Group’s Q3 2019 earnings at $0.53 EPS, Q4 2019 earnings at $0.35 EPS, FY2019 earnings at $1.10 EPS and Q2 2020 earnings at $0.32 EPS.

Separately, Canaccord Genuity increased their price objective on TransAlta Renewables from C$12.50 to C$13.00 in a report on Monday, April 29th. One analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of C$23.38.

TSE:ARE traded up C$1.89 during trading hours on Friday, reaching C$21.59. 1,998,000 shares of the stock were exchanged, compared to its average volume of 299,901. Aecon Group has a twelve month low of C$15.54 and a twelve month high of C$21.83. The company has a current ratio of 1.72, a quick ratio of 1.54 and a debt-to-equity ratio of 86.91. The company’s 50 day simple moving average is C$19.32. The stock has a market capitalization of $1.31 billion and a PE ratio of 20.20.

Aecon Group (TSE:ARE) last released its quarterly earnings results on Thursday, April 25th. The company reported C($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of C($0.33) by C$0.17. The firm had revenue of C$650.33 million for the quarter, compared to analyst estimates of C$468.58 million. Analysts forecast that Aecon Group will post 1.2312538 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Wednesday, July 3rd were issued a $0.145 dividend. This represents a $0.58 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend was Thursday, June 20th. Aecon Group’s payout ratio is presently 48.64%.

Aecon Group Company Profile

Aecon Group Inc provides construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally. It operates through three segments: Infrastructure, Industrial, and Concessions. The Infrastructure segment is involved in the construction of roads and bridges, and rail and transit systems, as well as in municipal road construction, asphalt production and aggregates, material engineering and design, and foundation activities.

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Analyst Recommendations for Aecon Group (TSE:ARE)

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