Aecon Group (TSE:ARE) Insider Steven Neil Nackan Sells 1,000 Shares

Aecon Group Inc. (TSE:ARE) insider Steven Neil Nackan sold 1,000 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of C$47.72, for a total value of C$47,720.00. Following the sale, the insider directly owned 14,535 shares of the company’s stock, valued at approximately C$693,610.20. This represents a 6.44% decrease in their ownership of the stock.

Aecon Group Trading Down 2.1%

Shares of ARE opened at C$46.64 on Friday. The business’s 50-day moving average price is C$47.16 and its 200 day moving average price is C$44.01. The stock has a market capitalization of C$3.20 billion, a P/E ratio of -49.09, a P/E/G ratio of 18.18 and a beta of 1.41. Aecon Group Inc. has a 1-year low of C$19.81 and a 1-year high of C$57.72. The company has a current ratio of 1.08, a quick ratio of 1.27 and a debt-to-equity ratio of 84.23.

Aecon Group (TSE:ARE) last posted its quarterly earnings data on Thursday, July 30th. The company reported C$0.33 EPS for the quarter. Aecon Group had a negative net margin of 1.10% and a negative return on equity of 6.76%. The company had revenue of C$1.63 billion during the quarter. Analysts expect that Aecon Group Inc. will post 1.3793321 earnings per share for the current year.

Aecon Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 3rd. Investors of record on Friday, July 3rd were given a $0.1925 dividend. This represents a $0.77 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Tuesday, June 23rd. Aecon Group’s dividend payout ratio is -80.53%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. ATB Cormark Capital Markets lifted their price objective on shares of Aecon Group from C$42.00 to C$49.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 30th. Royal Bank Of Canada increased their target price on Aecon Group from C$44.00 to C$49.00 and gave the company a “sector perform” rating in a report on Thursday, April 30th. BMO Capital Markets raised their target price on Aecon Group from C$45.00 to C$49.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 29th. Jefferies Financial Group lifted their price target on Aecon Group from C$49.00 to C$59.00 in a report on Monday, April 27th. Finally, Raymond James Financial raised Aecon Group from a “hold” rating to a “moderate buy” rating and upped their price target for the company from C$52.00 to C$60.00 in a research report on Friday, July 3rd. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Aecon Group currently has a consensus rating of “Moderate Buy” and an average price target of C$55.08.

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.