Aecon Group Inc (ARE) Receives Average Recommendation of “Buy” from Brokerages

Aecon Group Inc (TSE:ARE) has been given an average rating of “Buy” by the nine ratings firms that are covering the firm, reports. Two equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is C$20.13.

ARE has been the topic of several recent analyst reports. Industrial Alliance Securities raised shares of Aecon Group from a “tender” rating to a “hold” rating and reduced their price objective for the company from C$20.37 to C$17.50 in a research note on Thursday, May 24th. Royal Bank of Canada reduced their price objective on shares of Aecon Group from C$20.00 to C$17.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 24th. CIBC reduced their price objective on shares of Aecon Group from C$20.37 to C$20.00 in a research note on Thursday, May 24th. Canaccord Genuity upped their price objective on shares of Aecon Group from C$20.37 to C$22.00 in a research note on Thursday, May 24th. Finally, Desjardins reissued a “buy” rating on shares of Aecon Group in a research note on Thursday, May 24th.

Shares of ARE traded down C$0.08 on Wednesday, hitting C$16.49. 209,844 shares of the stock traded hands, compared to its average volume of 341,208. Aecon Group has a 1 year low of C$14.27 and a 1 year high of C$20.06.

Aecon Group (TSE:ARE) last announced its quarterly earnings data on Thursday, July 26th. The company reported C$0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.15 by C($0.02). The firm had revenue of C$754.77 million for the quarter, compared to analysts’ expectations of C$688.83 million. Aecon Group had a net margin of 3.24% and a return on equity of 13.31%.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 21st will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Thursday, September 20th.

In other Aecon Group news, Director John Michael Beck sold 48,800 shares of the stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of C$16.66, for a total transaction of C$813,008.00.

Aecon Group Company Profile

Aecon Group Inc provides construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally. It operates through four segments: Infrastructure, Energy, Mining, and Concessions. The Infrastructure segment is involved in the construction of roads and bridges, and rail and transit systems, as well as in asphalt production and aggregates, municipal construction, commercial site design, and material engineering and design activities.

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Analyst Recommendations for Aecon Group (TSE:ARE)

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