CIBC Raises Aecon Group (TSE:ARE) Price Target to C$24.00

Aecon Group (TSE:ARE) had its price objective increased by CIBC from C$23.00 to C$24.00 in a report released on Tuesday, BayStreet.CA reports.

A number of other brokerages also recently weighed in on ARE. Royal Bank of Canada raised their price objective on Aecon Group from C$20.00 to C$22.00 in a research note on Monday. Desjardins raised their price objective on Aecon Group from C$23.00 to C$24.00 and gave the company a buy rating in a research note on Monday. Canaccord Genuity raised their price objective on Aecon Group from C$26.00 to C$27.00 and gave the company a sector perform rating in a research note on Monday. Finally, Raymond James reissued a strong-buy rating and issued a C$26.00 price objective on shares of Aecon Group in a research note on Friday, July 26th. Two analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of C$24.50.

Shares of ARE stock opened at C$20.42 on Tuesday. The firm has a 50 day moving average of C$19.63. The company has a debt-to-equity ratio of 87.58, a current ratio of 1.65 and a quick ratio of 1.51. Aecon Group has a twelve month low of C$15.54 and a twelve month high of C$21.83. The company has a market cap of $1.23 billion and a P/E ratio of 16.67.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 3rd. Investors of record on Wednesday, July 3rd were paid a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend was Thursday, June 20th. Aecon Group’s payout ratio is 44.08%.

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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Analyst Recommendations for Aecon Group (TSE:ARE)

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