CIBC Boosts Aecon Group (TSE:ARE) Price Target to C$22.00

Aecon Group (TSE:ARE) had its price objective increased by CIBC from C$21.00 to C$22.00 in a research report report published on Thursday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts have also issued reports on the stock. Stifel Nicolaus boosted their target price on shares of Aecon Group from C$13.00 to C$16.50 and gave the company a hold rating in a research note on Thursday, March 7th. Royal Bank of Canada upped their target price on shares of Aecon Group from C$10.00 to C$13.00 and gave the stock a sector perform rating in a research note on Thursday, March 7th. Desjardins lifted their price target on shares of Aecon Group from C$16.00 to C$20.00 and gave the company a buy rating in a research note on Thursday, March 7th. ATB Capital increased their price objective on Aecon Group from C$15.25 to C$19.50 and gave the stock an outperform rating in a research note on Thursday, March 7th. Finally, 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 report on Thursday, March 7th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of C$18.23.

Aecon Group Stock Performance

Shares of TSE:ARE opened at C$17.04 on Thursday. The company has a current ratio of 1.42, a quick ratio of 1.27 and a debt-to-equity ratio of 39.29. Aecon Group has a 12 month low of C$8.42 and a 12 month high of C$17.40. The company has a market capitalization of C$1.06 billion, a price-to-earnings ratio of 8.11, a PEG ratio of 18.18 and a beta of 1.16. The firm’s 50-day moving average is C$15.86 and its 200 day moving average is C$13.39.

Aecon Group (TSE:ARE) last released its earnings results on Tuesday, March 5th. The company reported C$0.15 EPS for the quarter, missing analysts’ consensus estimates of C$0.17 by C($0.02). Aecon Group had a net margin of 3.49% and a return on equity of 16.04%. The business had revenue of C$1.13 billion for the quarter, compared to the consensus estimate of C$1.22 billion. Research analysts predict that Aecon Group will post 0.7603047 EPS for the current year.

Aecon Group Increases Dividend

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

Insider Buying and Selling

In other Aecon Group news, Senior Officer Martina Doyle sold 2,265 shares of Aecon Group stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of C$16.42, for a total value of C$37,191.30. In related news, Senior Officer Martina Doyle sold 2,265 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of C$16.42, for a total transaction of C$37,191.30. Also, Director Stuart Lee bought 7,000 shares of the stock in a transaction on Friday, March 22nd. The stock was purchased at an average price of C$16.33 per share, with a total value of C$114,310.00. 1.72% of the stock is currently owned by company insiders.

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.