Aecon Group (TSE:ARE) Trading Down 15.7% on Analyst Downgrade

Aecon Group Inc. (TSE:ARE) shares traded down 15.7% during trading on Tuesday after Canaccord Genuity Group lowered their price target on the stock from C$26.00 to C$25.00. Canaccord Genuity Group currently has a buy rating on the stock. Aecon Group traded as low as C$13.84 and last traded at C$14.31. 524,191 shares were traded during trading, an increase of 78% from the average session volume of 293,976 shares. The stock had previously closed at C$16.98.

Several other equities research analysts have also recently weighed in on the company. CIBC boosted their target price on Aecon Group from C$22.00 to C$23.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Royal Bank of Canada reduced their price objective on shares of 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. Stifel Nicolaus upped their target price on shares of Aecon Group from C$16.25 to C$16.50 in a report on Wednesday. Raymond James lifted their price target on shares of Aecon Group from C$16.00 to C$17.00 and gave the stock a “market perform” rating in a research note on Friday, April 26th. Finally, ATB Capital upped 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 equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Aecon Group presently has an average rating of “Hold” and an average price target of C$18.32.

Aecon Group Price Performance

The company has a 50-day moving average of C$16.64 and a 200-day moving average of C$15.49. The company has a debt-to-equity ratio of 28.71, a quick ratio of 1.27 and a current ratio of 1.50. The stock has a market cap of C$902.92 million, a price-to-earnings ratio of 6.74, a PEG ratio of 18.18 and a beta of 1.19.

Aecon Group (TSE:ARE) last released its quarterly earnings results on Wednesday, April 24th. The company reported C($0.10) EPS for the quarter, topping the consensus estimate of C($0.14) by C$0.04. Aecon Group had a return on equity of 16.62% and a net margin of 3.77%. The business had revenue of C$846.59 million during the quarter, compared to analysts’ expectations of C$1.03 billion. As a group, equities research analysts predict that Aecon Group Inc. will post 0.9104803 earnings per share for the current year.

Aecon Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Wednesday, July 3rd were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 5.24%. The ex-dividend date of this dividend was Friday, June 21st. Aecon Group’s payout ratio is 35.35%.

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.