Royal Bank of Canada Boosts Aecon Group (TSE:ARE) Price Target to C$22.00

Aecon Group (TSE:ARE) had its target price upped by Royal Bank of Canada from C$20.00 to C$22.00 in a report released on Monday, BayStreet.CA reports. Royal Bank of Canada’s price objective would indicate a potential upside of 6.23% from the stock’s current price.

ARE has been the topic of a number of other reports. Canaccord Genuity boosted their price objective on TransAlta Renewables from C$12.50 to C$13.00 in a research note on Monday, April 29th. Raymond James set a $240.00 price objective on Stryker and gave the company a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of C$24.00.

Shares of TSE:ARE traded down C$0.88 during midday trading on Monday, reaching C$20.71. 524,039 shares of the company traded hands, compared to its average volume of 301,351. The company has a quick ratio of 1.54, a current ratio of 1.72 and a debt-to-equity ratio of 86.91. Aecon Group has a 12 month low of C$15.54 and a 12 month high of C$21.83. The company has a market capitalization of $1.31 billion and a price-to-earnings ratio of 19.40. The business’s fifty day moving average price is C$19.32.

Aecon Group (TSE:ARE) last released its quarterly earnings data on Thursday, April 25th. The company reported C($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C($0.33) by C$0.17. The company had revenue of C$650.33 million for the quarter, compared to the consensus estimate of C$468.58 million. As a group, equities analysts anticipate that Aecon Group will post 1.2312538 earnings per share for the current year.

About Aecon Group

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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