Aecon Group Inc (TSE:ARE) Director John Michael Beck sold 48,800 shares of the stock in a transaction on Thursday, September 13th. The shares were sold at an average price of C$16.66, for a total transaction of C$813,008.00.
TSE ARE traded up C$0.03 during trading hours on Friday, reaching C$16.64. 113,141 shares of the company traded hands, compared to its average volume of 341,246. Aecon Group Inc has a 12 month low of C$14.27 and a 12 month high of C$20.06.
Aecon Group (TSE:ARE) last posted its quarterly earnings data on Thursday, July 26th. The company reported C$0.13 EPS for the quarter, missing the Zacks’ consensus estimate of C$0.15 by C($0.02). Aecon Group had a net margin of 3.24% and a return on equity of 13.31%. The company had revenue of C$754.77 million for the quarter, compared to the consensus estimate of C$688.83 million.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 21st will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, September 20th. This represents a $0.50 dividend on an annualized basis and a yield of 3.00%.
A number of research analysts have commented on ARE shares. Industrial Alliance Securities upgraded shares of Aecon Group from a “tender” rating to a “hold” rating and reduced their price objective for the company from C$20.37 to C$17.50 in a research note on Thursday, May 24th. Royal Bank of Canada reduced their price objective on shares of Aecon Group from C$20.00 to C$17.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 24th. CIBC reduced their price objective on shares of Aecon Group from C$20.37 to C$20.00 in a research note on Thursday, May 24th. Canaccord Genuity increased their price objective on shares of Aecon Group from C$20.37 to C$22.00 in a research note on Thursday, May 24th. Finally, Desjardins reiterated a “buy” rating on shares of Aecon Group in a research note on Thursday, May 24th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of C$20.13.
Aecon Group Company Profile
Aecon Group Inc provides construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally. It operates through four segments: Infrastructure, Energy, Mining, and Concessions. The Infrastructure segment is involved in the construction of roads and bridges, and rail and transit systems, as well as in asphalt production and aggregates, municipal construction, commercial site design, and material engineering and design activities.
Further Reading: Understanding Average Daily Trade Volume
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