Aecon Group (TSE:ARE) Downgraded by CIBC to Neutral

CIBC cut shares of Aecon Group (TSE:ARE) from an outperform rating to a neutral rating in a research report released on Friday morning,BayStreet.CA reports. They currently have C$35.00 price target on the stock, up from their prior price target of C$29.00.

Other analysts have also recently issued reports about the stock. National Bankshares upped their price target on shares of Aecon Group from C$23.00 to C$26.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Canaccord Genuity Group upped their price target on shares of Aecon Group from C$25.00 to C$29.00 in a research report on Monday, October 6th. TD Securities upped their price target on shares of Aecon Group from C$23.00 to C$34.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. National Bank Financial raised shares of Aecon Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 1st. Finally, ATB Capital cut shares of Aecon Group from an “outperform” rating to a “sector perform” rating and upped their price target for the stock from C$28.00 to C$32.00 in a research report on Friday. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Aecon Group currently has a consensus rating of “Moderate Buy” and a consensus target price of C$31.36.

Aecon Group Stock Down 3.9%

Shares of Aecon Group stock opened at C$30.92 on Friday. The company has a fifty day moving average price of C$23.90 and a 200 day moving average price of C$20.79. The company has a current ratio of 1.19, a quick ratio of 1.27 and a debt-to-equity ratio of 32.84. Aecon Group has a twelve month low of C$15.21 and a twelve month high of C$35.10. The stock has a market cap of C$1.97 billion, a price-to-earnings ratio of 73.62, a price-to-earnings-growth ratio of 18.18 and a beta of 1.48.

Aecon Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, October 2nd were paid a dividend of $0.19 per share. The ex-dividend date was Monday, September 22nd. This represents a $0.76 annualized dividend and a dividend yield of 2.5%. Aecon Group’s dividend payout ratio (DPR) is currently 180.95%.

Aecon Group Company Profile

Aecon Group Inc is a Canada-based company that operates in two segments: Construction and Concessions. The Construction segment includes various aspects of the construction of public and private infrastructure projects, mainly in the transportation sector. Its concessions segment is engaged in the development, financing, construction, and operation of infrastructure projects.