Raymond James Issues Positive Forecast for Aecon Group (TSE:ARE) Stock Price

Aecon Group (TSE:ARE) had its price objective boosted by Raymond James from C$24.00 to C$28.00 in a research note released on Tuesday morning, BayStreet.CA reports. Raymond James also issued estimates for Aecon Group’s FY2025 earnings at $1.50 EPS.

A number of other analysts have also issued reports on the stock. National Bank Financial upgraded shares of Aecon Group from a “hold” rating to a “strong-buy” rating in a research report on Sunday, July 28th. BMO Capital Markets raised their target price on shares of Aecon Group from C$16.50 to C$27.00 in a research report on Monday. Royal Bank of Canada raised their target price on shares of Aecon Group from C$13.00 to C$17.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. CIBC raised their target price on shares of Aecon Group from C$25.00 to C$29.00 in a research report on Monday. Finally, Stifel Nicolaus raised their target price on shares of Aecon Group from C$30.00 to C$31.00 in a research report on Friday, October 4th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Aecon Group presently has a consensus rating of “Moderate Buy” and an average target price of C$25.94.

Aecon Group Stock Up 0.0 %

ARE stock opened at C$28.60 on Tuesday. The company’s 50 day simple moving average is C$21.05 and its 200-day simple moving average is C$18.03. The firm has a market capitalization of C$1.79 billion, a PE ratio of -105.93, a P/E/G ratio of 18.18 and a beta of 1.13. Aecon Group has a 12 month low of C$10.30 and a 12 month high of C$28.79. The company has a debt-to-equity ratio of 32.86, a current ratio of 1.35 and a quick ratio of 1.27.

Aecon Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, October 2nd were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend was Friday, September 20th. Aecon Group’s dividend payout ratio is currently -281.48%.

Insiders Place Their Bets

In related news, Senior Officer Timothy John Murphy purchased 4,244 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were bought at an average price of C$17.66 per share, with a total value of C$74,969.84. 0.82% of the stock is currently owned by insiders.

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.