Aecon Group (TSE:ARE) Issues Quarterly Earnings Results

Aecon Group (TSE:ARE) posted its quarterly earnings data on Wednesday. The company reported C($0.10) earnings per share for the quarter, topping the consensus estimate of C($0.14) by C$0.04, reports. The firm had revenue of C$846.59 million for the quarter, compared to analysts’ expectations of C$1.03 billion. Aecon Group had a return on equity of 16.04% and a net margin of 3.49%.

Aecon Group Stock Performance

Shares of ARE stock opened at C$17.05 on Friday. The business’s 50-day moving average price is C$16.08 and its 200-day moving average price is C$13.54. The company has a current ratio of 1.42, a quick ratio of 1.27 and a debt-to-equity ratio of 39.29. The firm has a market capitalization of C$1.06 billion, a price-to-earnings ratio of 8.12, a PEG ratio of 18.18 and a beta of 1.16. Aecon Group has a 12 month low of C$8.42 and a 12 month high of C$17.40.

Aecon Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Friday, March 22nd were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.46%. This is a positive change from Aecon Group’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Thursday, March 21st. Aecon Group’s dividend payout ratio (DPR) is presently 36.19%.

Insider Buying and Selling

In related news, Senior Officer Martina Doyle sold 2,265 shares of Aecon Group stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of C$16.42, for a total value of C$37,191.30. In related news, Senior Officer Martina Doyle sold 2,265 shares of Aecon Group stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of C$16.42, for a total value of C$37,191.30. Also, Senior Officer Adam Robert Borgatti acquired 4,231 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was bought at an average cost of C$13.07 per share, for a total transaction of C$55,299.17. 1.72% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. BMO Capital Markets raised their price target on Aecon Group from C$17.50 to C$18.50 in a research report on Friday. Stifel Nicolaus raised their price target on Aecon Group from C$17.00 to C$18.25 in a research report on Friday. CIBC raised their price target on Aecon Group from C$22.00 to C$23.00 and gave the stock an “outperform” rating in a research report on Friday. Canaccord Genuity Group raised their price target on Aecon Group from C$14.00 to C$26.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Finally, Royal Bank of Canada raised their price objective on Aecon Group from C$13.00 to C$16.00 and gave the company a “sector perform” rating in a research note on Friday. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Aecon Group has a consensus rating of “Moderate Buy” and an average price target of C$19.17.

About Aecon Group

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.