CIBC Raises Aecon Group (TSE:ARE) Price Target to C$23.00

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

ARE has been the topic of several other research reports. TD Securities increased their target price on shares of 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. Raymond James upped their price target on shares of Aecon Group from C$14.00 to C$16.00 and gave the stock a market perform rating in a report on Thursday, March 7th. National Bankshares upped their price target on shares of Aecon Group from C$15.00 to C$18.00 and gave the stock a sector perform rating in a report on Friday. BMO Capital Markets upped their price target on shares of Aecon Group from C$17.50 to C$18.50 in a report on Friday. Finally, Stifel Nicolaus upped their price target on shares of Aecon Group from C$17.00 to C$18.25 in a report on Friday. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of C$19.17.

Aecon Group Price Performance

Shares of TSE:ARE opened at C$17.05 on Friday. The company has a debt-to-equity ratio of 39.29, a quick ratio of 1.27 and a current ratio of 1.42. The firm has a fifty day moving average price of C$16.15 and a 200 day moving average price of C$13.61. Aecon Group has a fifty-two week low of C$8.42 and a fifty-two week high of C$17.40. The firm has a market cap of C$1.06 billion, a price-to-earnings ratio of 8.12, a P/E/G ratio of 18.18 and a beta of 1.16.

Aecon Group (TSE:ARE) last released its quarterly earnings results on Wednesday, April 24th. The company reported C($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C($0.14) by C$0.04. The company had revenue of C$846.59 million for the quarter, compared to the consensus estimate of C$1.03 billion. Aecon Group had a net margin of 3.49% and a return on equity of 16.04%. As a group, sell-side analysts expect that Aecon Group will post 0.7603047 earnings per share for the current fiscal year.

Aecon Group Increases Dividend

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

Insiders Place Their Bets

In other Aecon Group news, Senior Officer Adam Robert Borgatti bought 4,231 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were bought at an average cost of C$13.07 per share, for a total transaction of C$55,299.17. In other news, Senior Officer Martina Doyle sold 2,265 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of C$16.42, for a total value of C$37,191.30. Also, Senior Officer Adam Robert Borgatti purchased 4,231 shares of the 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. 1.72% of the stock is 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.