Aecon Group (TSE:ARE) Price Target Lowered to C$18.00 at Desjardins

Aecon Group (TSE:ARE) had its target price decreased by Desjardins from C$20.00 to C$18.00 in a research note issued to investors on Tuesday morning, BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

Other analysts also recently issued research reports about the stock. Raymond James boosted their target price on shares of Aecon Group from C$16.00 to C$17.00 and gave the stock a market perform rating in a research report on Friday, April 26th. TD Securities boosted their target price on shares of Aecon Group from C$14.00 to C$18.50 and gave the stock a hold rating in a research report on Friday, March 8th. BMO Capital Markets boosted their target price on shares of Aecon Group from C$17.50 to C$18.50 in a research report on Friday, April 26th. Paradigm Capital boosted their target price on shares of Aecon Group from C$14.00 to C$17.80 and gave the stock a hold rating in a research report on Friday, April 26th. Finally, ATB Capital lifted their price objective on shares of Aecon Group from C$19.50 to C$21.00 and gave the company an outperform rating in a research note on Friday, April 26th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of C$18.38.

Aecon Group Trading Down 17.5 %

Shares of ARE opened at C$14.01 on Tuesday. Aecon Group has a 1-year low of C$8.42 and a 1-year high of C$17.40. The company has a 50-day moving average of C$16.68 and a 200 day moving average of C$15.50. The firm has a market capitalization of C$872.40 million, a price-to-earnings ratio of 6.52, a PEG ratio of 18.18 and a beta of 1.19. The company has a debt-to-equity ratio of 28.71, a current ratio of 1.50 and a quick ratio of 1.27.

Aecon Group (TSE:ARE) last announced its quarterly earnings data on Wednesday, April 24th. The company reported C($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of C($0.14) by C$0.04. The company had revenue of C$846.59 million during the quarter, compared to analyst estimates of C$1.03 billion. Aecon Group had a net margin of 3.77% and a return on equity of 16.62%. On average, research analysts expect that Aecon Group will post 0.9104803 EPS for the current year.

Aecon Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Wednesday, July 3rd will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.42%. The ex-dividend date of this dividend is Friday, June 21st. Aecon Group’s dividend payout ratio is currently 35.35%.

About Aecon Group

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.