Aecon Group (TSE:ARE) Hits New 12-Month High – Should You Buy?

Shares of Aecon Group Inc. (TSE:ARE) reached a new 52-week high during trading on Wednesday . The stock traded as high as C$22.06 and last traded at C$22.06, with a volume of 158161 shares. The stock had previously closed at C$21.83.

Analyst Ratings Changes

Several research firms have issued reports on ARE. Desjardins lowered their price objective on shares of Aecon Group from C$20.00 to C$18.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd. CIBC decreased their target price on Aecon Group from C$23.00 to C$22.00 in a research report on Thursday, July 11th. National Bank Financial upgraded Aecon Group from a “hold” rating to a “strong-buy” rating in a report on Sunday, July 28th. Canaccord Genuity Group raised their price target on Aecon Group from C$25.00 to C$28.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Finally, Royal Bank of Canada upped their price objective on shares of Aecon Group from C$13.00 to C$17.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$21.16.

Aecon Group Price Performance

The company has a 50-day simple moving average of C$18.68 and a 200-day simple moving average of C$17.18. The company has a debt-to-equity ratio of 32.86, a current ratio of 1.35 and a quick ratio of 1.27. The stock has a market cap of C$1.38 billion, a PE ratio of -80.85, a PEG ratio of 18.18 and a beta of 1.13.

Aecon Group (TSE:ARE) last announced its earnings results on Wednesday, July 24th. The company reported C($1.99) earnings per share for the quarter, beating the consensus estimate of C($2.53) by C$0.54. Aecon Group had a net margin of 0.32% and a return on equity of 1.40%. The firm had revenue of C$853.80 million during the quarter, compared to the consensus estimate of C$1.01 billion. Sell-side analysts anticipate that Aecon Group Inc. will post 1.3793321 EPS for the current fiscal year.

Aecon Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, October 2nd were paid a $0.19 dividend. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.76 annualized dividend and a yield of 3.44%. Aecon Group’s payout ratio is currently -281.48%.

Insiders Place Their Bets

In related news, Director Scott Stewart purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was purchased at an average price of C$16.54 per share, with a total value of C$165,380.00. In other Aecon Group news, Director Scott Stewart acquired 10,000 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was bought at an average price of C$16.54 per share, with a total value of C$165,380.00. Also, Senior Officer Timothy John Murphy acquired 4,244 shares of the stock in a transaction on Thursday, August 8th. The shares were acquired at an average price of C$17.66 per share, with a total value of C$74,969.84. Insiders have acquired a total of 16,549 shares of company stock valued at $274,762 in the last quarter. 0.82% of the stock is currently owned by company insiders.

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.