Aecon Group (TSE:ARE) Reaches New 52-Week High – What’s Next?

Aecon Group Inc. (TSE:ARE)’s share price reached a new 52-week high on Thursday . The company traded as high as C$47.41 and last traded at C$47.35, with a volume of 41352 shares traded. The stock had previously closed at C$46.47.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ARE shares. BMO Capital Markets upped their target price on shares of Aecon Group from C$40.00 to C$45.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. ATB Cormark Capital Markets upped their target price on shares of Aecon Group from C$39.00 to C$42.00 and gave the stock a “sector perform” rating in a research note on Monday, March 30th. Raymond James Financial upped their target price on shares of Aecon Group from C$41.00 to C$44.00 and gave the stock a “market perform” rating in a research note on Tuesday, March 31st. Royal Bank Of Canada upped their target price on shares of Aecon Group from C$41.00 to C$44.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 9th. Finally, National Bank Financial upped their target price on shares of Aecon Group from C$45.00 to C$48.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 8th. Four investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Aecon Group presently has an average rating of “Hold” and an average target price of C$46.15.

Aecon Group Trading Up 1.4%

The stock’s fifty day simple moving average is C$41.38 and its 200-day simple moving average is C$34.07. The firm has a market cap of C$3.23 billion, a PE ratio of 204.83, a PEG ratio of 18.18 and a beta of 0.97. The company has a debt-to-equity ratio of 65.17, a current ratio of 1.10 and a quick ratio of 1.27.

Aecon Group (TSE:ARE) last posted its quarterly earnings results on Thursday, March 5th. The company reported C$0.52 earnings per share (EPS) for the quarter. The business had revenue of C$1.54 billion during the quarter. Aecon Group had a net margin of 0.28% and a return on equity of 1.66%. On average, sell-side analysts forecast that Aecon Group Inc. will post 1.3793321 earnings per share for the current year.

Aecon Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Thursday, April 2nd were issued a $0.1925 dividend. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.6%. Aecon Group’s dividend payout ratio (DPR) is currently 330.43%.

Insider Activity

In related news, Director Eric Stuart Rosenfeld sold 125,000 shares of the firm’s stock in a transaction on Friday, March 27th. The shares were sold at an average price of C$41.64, for a total transaction of C$5,205,000.00. Following the completion of the transaction, the director owned 184,200 shares of the company’s stock, valued at C$7,670,088. This trade represents a 40.43% decrease in their ownership of the stock. 0.82% of the stock is currently owned by company insiders.

About Aecon Group

Aecon Group Inc is a Canada-based company that operates in two segments: Construction and Concessions. The Construction segment includes various aspects of the construction of public and private infrastructure projects, mainly in the transportation sector. Its concessions segment is engaged in the development, financing, construction, and operation of infrastructure projects. Aecon generates the majority of its revenue from the Construction segment.