Aecon Group (TSE:ARE) Price Target Increased to C$23.00 by Analysts at CIBC

Aecon Group (TSE:ARE) had its target price upped by CIBC from C$22.00 to C$23.00 in a report released on Friday morning, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

Several other research analysts also recently commented on ARE. Desjardins raised their price objective on Aecon Group from C$16.00 to C$20.00 and gave the stock a buy rating in a research note on Thursday, March 7th. Canaccord Genuity Group raised their price objective on Aecon Group from C$14.00 to C$26.00 and gave the stock a buy rating in a research note on Thursday, March 7th. National Bankshares lifted their target price on Aecon Group from C$15.00 to C$18.00 and gave the company a sector perform rating in a research note on Friday. TD Securities lifted their target price on 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. Finally, BMO Capital Markets lifted their target price on Aecon Group from C$17.50 to C$18.50 in a research note on Friday. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Aecon Group currently has an average rating of Moderate Buy and a consensus target price of C$19.17.

Aecon Group Stock Down 0.4 %

TSE ARE opened at C$17.05 on Friday. The stock’s 50-day moving average price is C$16.15 and its 200-day moving average price is C$13.58. The company has a quick ratio of 1.27, a current ratio of 1.42 and a debt-to-equity ratio of 39.29. Aecon Group has a 52 week low of C$8.42 and a 52 week high of C$17.40. The company has a market capitalization of C$1.06 billion, a P/E ratio of 8.12, a price-to-earnings-growth ratio of 18.18 and a beta of 1.16.

Aecon Group (TSE:ARE) last posted its quarterly earnings data on Wednesday, April 24th. The company reported C($0.10) EPS for the quarter, topping the consensus estimate of C($0.14) by C$0.04. Aecon Group had a return on equity of 16.04% and a net margin of 3.49%. The firm had revenue of C$846.59 million for the quarter, compared to the consensus estimate of C$1.03 billion. On average, equities research analysts predict that Aecon Group will post 0.7603047 earnings per share for the current year.

Aecon Group Increases Dividend

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

Insiders Place Their Bets

In other news, Director Stuart Lee acquired 7,000 shares of Aecon Group stock in a transaction on Friday, March 22nd. The shares were acquired at an average price of C$16.33 per share, with a total value of C$114,310.00. In related news, Senior Officer Adam Robert Borgatti bought 4,231 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was purchased at an average price of C$13.07 per share, for a total transaction of C$55,299.17. Also, Director Stuart Lee bought 7,000 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was bought at an average price of C$16.33 per share, with a total value of C$114,310.00. Corporate 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.