Aecon Group (TSE:ARE) Sets New 12-Month Low After Analyst Downgrade

Aecon Group Inc. (TSE:ARE – Get Rating) shares hit a new 52-week low during mid-day trading on Tuesday after Atb Cap Markets downgraded the stock from an outperform rating to a sector perform rating. The stock traded as low as C$10.72 and last traded at C$10.74, with a volume of 261722 shares trading hands. The stock had previously closed at C$11.10.

ARE has been the subject of a number of other research reports. Raymond James reduced their price target on Aecon Group from C$21.00 to C$17.00 and set an “outperform” rating for the company in a research report on Tuesday. Royal Bank of Canada reduced their price target on Aecon Group from C$16.00 to C$13.00 and set a “sector perform” rating for the company in a research report on Tuesday. National Bankshares cut their price objective on Aecon Group from C$18.00 to C$13.00 and set a “sector perform” rating for the company in a report on Tuesday. TD Securities downgraded Aecon Group from a “buy” rating to a “hold” rating and cut their price objective for the company from C$19.50 to C$12.50 in a report on Tuesday. Finally, ATB Capital cut their price objective on Aecon Group from C$18.25 to C$14.00 in a report on Tuesday. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of C$15.41.

Aecon Group Stock Up 1.6 %

The firm has a 50 day moving average of C$13.25 and a two-hundred day moving average of C$15.19. The firm has a market capitalization of C$668.68 million and a price-to-earnings ratio of 27.43. The company has a quick ratio of 1.26, a current ratio of 1.38 and a debt-to-equity ratio of 110.06.

Aecon Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 5th. Stockholders of record on Tuesday, July 5th were paid a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 6.75%. The ex-dividend date was Thursday, June 23rd. Aecon Group’s payout ratio is 180.00%.

About Aecon Group

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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 primarily on the civil infrastructure, urban transportation systems, nuclear power infrastructure, utility infrastructure, and conventional industrial infrastructure market sectors.

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