Aecon Group (TSE:ARE) Price Target Raised to C$48.00

Aecon Group (TSE:ARE) had its target price increased by Canadian Imperial Bank of Commerce from C$45.00 to C$48.00 in a research note released on Thursday morning,BayStreet.CA reports.

Several other research firms have also weighed in on ARE. Desjardins upped their price objective on Aecon Group from C$43.00 to C$45.00 and gave the company a “hold” rating in a research note on Monday, March 30th. BMO Capital Markets upped their price objective on Aecon Group from C$40.00 to C$45.00 and gave the company an “outperform” rating in a research note on Monday, March 30th. ATB Cormark Capital Markets upped their price objective on Aecon Group from C$39.00 to C$42.00 and gave the company a “sector perform” rating in a research note on Monday, March 30th. Stifel Nicolaus lowered their price objective on Aecon Group from C$34.25 to C$28.75 and set a “hold” rating on the stock in a research note on Monday, March 9th. Finally, Raymond James Financial upped their price objective on Aecon Group from C$41.00 to C$44.00 and gave the company a “market perform” rating in a research note on Tuesday, March 31st. Four equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of C$44.58.

Aecon Group Trading Up 0.8%

Shares of ARE opened at C$46.00 on Thursday. Aecon Group has a 12-month low of C$15.21 and a 12-month high of C$46.03. The company has a quick ratio of 1.27, a current ratio of 1.10 and a debt-to-equity ratio of 65.17. The firm has a market capitalization of C$3.15 billion, a price-to-earnings ratio of 200.00, a P/E/G ratio of 18.18 and a beta of 0.97. The stock’s 50-day moving average price is C$39.77 and its 200 day moving average price is C$32.80.

Aecon Group (TSE:ARE) last released its quarterly earnings data on Thursday, March 5th. The company reported C$0.52 earnings per share for the quarter. Aecon Group had a return on equity of 1.66% and a net margin of 0.28%.The company had revenue of C$1.54 billion for the quarter. As a group, research analysts predict that Aecon Group will post 1.3793321 earnings per share for the current year.

Aecon Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Thursday, April 2nd were given a dividend of $0.1925 per share. The ex-dividend date was Monday, March 23rd. This represents a $0.77 dividend on an annualized basis and a yield of 1.7%. Aecon Group’s dividend payout ratio is 330.43%.

Insider Buying and Selling

In related news, Director Eric Stuart Rosenfeld sold 125,000 shares of the stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of C$41.64, for a total transaction of C$5,205,000.00. Following the sale, the director directly owned 184,200 shares in the company, valued at C$7,670,088. This represents a 40.43% decrease in their position. 0.82% of the stock is currently owned by company insiders.

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