Aecon Group (TSE:ARE) Price Target Increased to C$16.00 by Analysts at Royal Bank of Canada

Aecon Group (TSE:ARE) had its price objective boosted by Royal Bank of Canada from C$13.00 to C$16.00 in a report issued on Friday, BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the stock.

ARE has been the topic of several other reports. CIBC lifted their target price on Aecon Group from C$22.00 to C$23.00 and gave the stock an outperform rating in a report on Friday. National Bankshares lifted their price target on Aecon Group from C$15.00 to C$18.00 and gave the company a sector perform rating in a research note on Friday. Raymond James lifted their target price on Aecon Group from C$16.00 to C$17.00 and gave the company a market perform rating in a research report on Friday. BMO Capital Markets lifted their target price on Aecon Group from C$17.50 to C$18.50 in a research report on Friday. Finally, TD Securities lifted their target price on Aecon Group from C$14.00 to C$18.50 and gave the company a hold rating in a research report on Friday, March 8th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of C$19.17.

Aecon Group Stock Down 0.4 %

TSE:ARE opened at C$17.05 on Friday. Aecon Group has a 12-month low of C$8.42 and a 12-month high of C$17.40. The company has a quick ratio of 1.27, a current ratio of 1.42 and a debt-to-equity ratio of 39.29. The firm has a market capitalization of C$1.06 billion, a P/E ratio of 8.12, a P/E/G ratio of 18.18 and a beta of 1.16. The stock’s fifty day simple moving average is C$16.15 and its 200-day simple moving average is C$13.58.

Aecon Group (TSE:ARE) last posted its quarterly earnings results on Wednesday, April 24th. The company reported C($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of C($0.14) by C$0.04. Aecon Group had a return on equity of 16.04% and a net margin of 3.49%. The business had revenue of C$846.59 million for the quarter, compared to analyst estimates of C$1.03 billion. Equities research analysts expect that Aecon Group will post 0.7603047 earnings per share for the current year.

Aecon Group Increases Dividend

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

Insider Buying and Selling

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

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.