Aecon Group (TSE:ARE) PT Raised to C$22.00 at CIBC

Aecon Group (TSE:ARE) had its price objective hoisted by CIBC from C$21.00 to C$22.00 in a report issued on Thursday morning, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

Several other research firms also recently weighed in on ARE. BMO Capital Markets boosted their target price on shares of Aecon Group from C$14.50 to C$17.50 and gave the stock an outperform rating in a research report on Thursday, March 7th. Royal Bank of Canada boosted their target price on shares of Aecon Group from C$10.00 to C$13.00 and gave the stock a sector perform rating in a research report on Thursday, March 7th. TD Securities lifted their price objective on shares of Aecon Group from C$14.00 to C$18.50 and gave the company a hold rating in a research note on Friday, March 8th. Raymond James lifted their price objective on shares of Aecon Group from C$14.00 to C$16.00 and gave the company a market perform rating in a research note on Thursday, March 7th. Finally, National Bankshares lifted their price objective on shares of Aecon Group from C$10.50 to C$15.00 and gave the company a sector perform rating in a research note on Thursday, March 7th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Aecon Group has a consensus rating of Moderate Buy and an average price target of C$18.18.

Aecon Group Stock Up 2.5 %

TSE:ARE opened at C$17.03 on Thursday. Aecon Group has a fifty-two week low of C$8.42 and a fifty-two week high of C$17.40. The stock has a market capitalization of C$1.06 billion, a P/E ratio of 8.11, a P/E/G ratio of 18.18 and a beta of 1.16. The company has a debt-to-equity ratio of 39.29, a quick ratio of 1.27 and a current ratio of 1.42. The company’s 50-day simple moving average is C$15.81 and its 200-day simple moving average is C$13.33.

Aecon Group (TSE:ARE) last released its earnings results on Tuesday, March 5th. The company reported C$0.15 earnings per share for the quarter, missing the consensus estimate of C$0.17 by C($0.02). The company had revenue of C$1.13 billion for the quarter, compared to analysts’ expectations of C$1.22 billion. Aecon Group had a return on equity of 16.04% and a net margin of 3.49%. On average, equities analysts anticipate that Aecon Group will post 0.7603047 earnings per share for the current fiscal year.

Aecon Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Friday, March 22nd were paid a $0.19 dividend. This is a boost from Aecon Group’s previous quarterly dividend of $0.19. This represents a $0.76 annualized dividend and a dividend yield of 4.46%. The ex-dividend date was Thursday, March 21st. Aecon Group’s payout ratio is currently 36.19%.

Insider Activity at Aecon Group

In related news, Senior Officer Martina Doyle sold 2,265 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of C$16.42, for a total value of C$37,191.30. In related news, Senior Officer Adam Robert Borgatti acquired 4,231 shares of Aecon Group stock in a transaction on Tuesday, March 26th. The stock was bought at an average cost of C$13.07 per share, for a total transaction of C$55,299.17. Also, Senior Officer Martina Doyle sold 2,265 shares of the company’s stock in a transaction 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. Company insiders own 1.72% of the company’s stock.

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.