Aecon Group Inc. Plans Quarterly Dividend of $0.19 (TSE:ARE)

Aecon Group Inc. (TSE:ARE) announced a quarterly dividend on Friday, September 20th, Zacks reports. Investors of record on Wednesday, October 2nd will be given a dividend of 0.19 per share on Wednesday, October 2nd. This represents a $0.76 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend is Friday, September 20th.

Aecon Group Trading Up 0.8 %

Shares of ARE opened at C$20.04 on Thursday. The stock’s fifty day simple moving average is C$17.05 and its 200 day simple moving average is C$16.72. Aecon Group has a twelve month low of C$8.42 and a twelve month high of C$20.23. The company has a current ratio of 1.35, a quick ratio of 1.27 and a debt-to-equity ratio of 32.86. The firm has a market capitalization of C$1.25 billion, a P/E ratio of -74.22, a price-to-earnings-growth ratio of 18.18 and a beta of 1.12.

Aecon Group (TSE:ARE) last released its quarterly earnings data 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. The business had revenue of C$853.80 million for the quarter, compared to analyst estimates of C$1.01 billion. Aecon Group had a return on equity of 1.40% and a net margin of 0.32%. On average, equities research analysts forecast that Aecon Group will post 1.3804945 earnings per share for the current year.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ARE shares. BMO Capital Markets lowered their price target on shares of Aecon Group from C$17.50 to C$16.50 in a report on Wednesday, July 24th. CIBC cut their price target on shares of Aecon Group from C$23.00 to C$22.00 in a report on Thursday, July 11th. Canaccord Genuity Group decreased their price objective on shares of Aecon Group from C$26.00 to C$25.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. TD Securities cut their target price on shares of Aecon Group from C$17.00 to C$16.00 and set a “hold” rating on the stock in a research note on Friday, July 26th. Finally, Desjardins decreased 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 report on Tuesday, July 2nd. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Aecon Group has a consensus rating of “Moderate Buy” and an average target price of C$20.80.

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.