Aecon Group (TSE:ARE) Reaches New 12-Month High – What’s Next?

Aecon Group Inc. (TSE:ARE)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$44.35 and last traded at C$44.33, with a volume of 116129 shares. The stock had previously closed at C$42.46.

Analysts Set New Price Targets

ARE has been the subject of a number of recent analyst reports. Canaccord Genuity Group raised their target price on Aecon Group from C$40.00 to C$52.00 and gave the company a “buy” rating in a report on Monday, March 9th. National Bank Financial increased their price target on shares of Aecon Group from C$35.00 to C$45.00 and gave the company an “outperform” rating in a report on Monday, March 9th. ATB Cormark Capital Markets raised their price objective on shares of Aecon Group from C$35.00 to C$39.00 and gave the company a “sector perform” rating in a research note on Monday, March 9th. Royal Bank Of Canada raised their price objective on shares of Aecon Group from C$30.00 to C$41.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 10th. Finally, Raymond James Financial boosted their price objective on shares of Aecon Group from C$33.00 to C$41.00 and gave the stock a “market perform” rating in a report on Tuesday, March 10th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of C$39.38.

Aecon Group Price Performance

The company has a market cap of C$2.80 billion, a price-to-earnings ratio of 190.26, a price-to-earnings-growth ratio of 18.18 and a beta of 1.10. The company has a fifty day simple moving average of C$37.49 and a two-hundred day simple moving average of C$31.04. The company has a quick ratio of 1.27, a current ratio of 1.10 and a debt-to-equity ratio of 65.17.

Aecon Group (TSE:ARE) last released its quarterly earnings results on Thursday, March 5th. The company reported C$0.52 earnings per share (EPS) for the quarter. Aecon Group had a return on equity of 1.66% and a net margin of 0.28%.The business had revenue of C$1.54 billion during the quarter. On average, equities research analysts anticipate that Aecon Group Inc. will post 1.3793321 earnings per share for the current fiscal year.

Aecon Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Thursday, April 2nd will be given a $0.1925 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, March 23rd. Aecon Group’s payout ratio is currently 330.43%.

About Aecon Group

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. Aecon generates the majority of its revenue from the Construction segment.