Paradigm Capital Raises Aecon Group (TSE:ARE) Price Target to C$17.80

Aecon Group (TSE:ARE) had its price objective increased by Paradigm Capital from C$14.00 to C$17.80 in a report released on Friday, BayStreet.CA reports. They currently have a hold rating on the stock.

Several other analysts have also issued reports on the company. Royal Bank of Canada boosted their price target on Aecon Group from C$10.00 to C$13.00 and gave the company a sector perform rating in a report on Thursday, March 7th. Canaccord Genuity Group increased their price target on Aecon Group from C$14.00 to C$26.00 and gave the company a buy rating in a research note on Thursday, March 7th. CIBC upped their price objective on Aecon Group from C$22.00 to C$23.00 and gave the company an outperform rating in a research report on Friday. ATB Capital upped their price objective on Aecon Group from C$15.25 to C$19.50 and gave the company an outperform rating in a research report on Thursday, March 7th. Finally, TD Securities upped their price objective 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 investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Aecon Group currently has a consensus rating of Moderate Buy and an average target price of C$19.17.

Aecon Group Stock Down 0.4 %

ARE stock opened at C$16.98 on Friday. Aecon Group has a 1-year low of C$8.42 and a 1-year high of C$17.40. The business has a fifty day moving average price of C$16.21 and a 200-day moving average price of C$13.66. The company has a debt-to-equity ratio of 39.29, a current ratio of 1.42 and a quick ratio of 1.27. The stock has a market capitalization of C$1.06 billion, a P/E ratio of 8.09, a P/E/G ratio of 18.18 and a beta of 1.16.

Aecon Group (TSE:ARE) last posted its quarterly earnings results on Wednesday, April 24th. The company reported C($0.10) earnings per share 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 firm had revenue of C$846.59 million during the quarter, compared to analysts’ expectations of C$1.03 billion. Equities analysts forecast that Aecon Group will post 0.7603047 earnings per share for the current fiscal year.

Aecon Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Friday, March 22nd were given a $0.19 dividend. This is a boost from Aecon Group’s previous quarterly dividend of $0.19. The ex-dividend date was Thursday, March 21st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.48%. Aecon Group’s dividend payout ratio (DPR) is presently 36.19%.

Insider Transactions at Aecon Group

In other news, Director Stuart Lee bought 7,000 shares of Aecon Group stock in a transaction that occurred on Friday, March 22nd. The stock was bought at an average price of C$16.33 per share, for a total transaction of C$114,310.00. In other Aecon Group news, Senior Officer Adam Robert Borgatti purchased 4,231 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was purchased at an average price of C$13.07 per share, for a total transaction of C$55,299.17. Also, Director Stuart Lee purchased 7,000 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was acquired at an average price of C$16.33 per share, with a total value of C$114,310.00. Insiders own 1.72% of the company’s stock.

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.