Stifel Nicolaus Boosts Aecon Group (TSE:ARE) Price Target to C$30.00

Aecon Group (TSE:ARE) had its price objective hoisted by Stifel Nicolaus from C$25.00 to C$30.00 in a report issued on Monday, BayStreet.CA reports.

ARE has been the topic of a number of other research reports. CIBC reduced their target price on Aecon Group from C$23.00 to C$22.00 in a report on Thursday, July 11th. BMO Capital Markets reduced their price objective on shares of Aecon Group from C$17.50 to C$16.50 in a research note on Wednesday, July 24th. TD Securities lowered their target price on shares of Aecon Group from C$17.00 to C$16.00 and set a hold rating for the company in a research note on Friday, July 26th. Desjardins reduced their price target on shares of Aecon Group from C$20.00 to C$18.00 and set a buy rating on the stock in a research report on Tuesday, July 2nd. Finally, National Bankshares raised shares of Aecon Group from a sector perform rating to an outperform rating and boosted their price target for the company from C$17.00 to C$20.50 in a report on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of C$20.07.

Aecon Group Stock Up 5.1 %

Shares of TSE:ARE opened at C$20.10 on Monday. Aecon Group has a 12 month low of C$8.42 and a 12 month high of C$20.10. The company’s 50-day moving average price is C$16.61 and its two-hundred day moving average price is C$16.56. The firm has a market cap of C$1.26 billion, a P/E ratio of -74.44, a P/E/G ratio of 18.18 and a beta of 1.12. The company has a quick ratio of 1.27, a current ratio of 1.35 and a debt-to-equity ratio of 32.86.

Aecon Group (TSE:ARE) last issued its quarterly earnings results on Wednesday, July 24th. The company reported C($1.99) earnings per share (EPS) for the quarter, beating the consensus estimate of C($2.53) by C$0.54. The business had revenue of C$853.80 million for the quarter, compared to analyst estimates of C$1.01 billion. Aecon Group had a return on equity of 1.40% and a net margin of 0.32%. As a group, research analysts forecast that Aecon Group will post 1.4544025 EPS for the current fiscal year.

Aecon Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Friday, September 20th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $0.76 annualized dividend and a yield of 3.78%. Aecon Group’s dividend payout ratio (DPR) is presently -281.48%.

Insider Activity

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