Aecon Group (TSE:ARE) Reaches New 52-Week High – Here’s Why

Aecon Group Inc. (TSE:ARE) hit a new 52-week high during trading on Thursday . The stock traded as high as C$29.61 and last traded at C$29.37, with a volume of 184781 shares traded. The stock had previously closed at C$27.99.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ARE shares. CIBC boosted their price target on shares of Aecon Group from C$25.00 to C$29.00 in a research report on Monday, November 4th. Raymond James increased their price target on shares of Aecon Group from C$24.00 to C$28.00 in a research note on Tuesday, November 5th. Stifel Canada raised Aecon Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 25th. National Bankshares raised shares of Aecon Group from a “sector perform” rating to an “outperform” rating and raised their price target for the company from C$17.00 to C$20.50 in a research report on Monday, July 29th. Finally, Stifel Nicolaus increased their target price on Aecon Group from C$30.00 to C$31.00 in a research note on Friday, October 4th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$25.94.

Aecon Group Stock Up 4.1 %

The business has a 50-day moving average price of C$22.25 and a 200 day moving average price of C$18.52. The company has a current ratio of 1.35, a quick ratio of 1.27 and a debt-to-equity ratio of 32.86. The stock has a market capitalization of C$1.82 billion, a P/E ratio of -103.67, a P/E/G ratio of 18.18 and a beta of 1.13.

Aecon Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, October 2nd were paid a $0.19 dividend. The ex-dividend date was Friday, September 20th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.61%. Aecon Group’s payout ratio is currently -281.48%.

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.