Aecon Group Inc. (TSE:ARE – Get Free Report)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$42.98 and traded as high as C$51.95. Aecon Group shares last traded at C$50.31, with a volume of 222,513 shares changing hands.
Analyst Upgrades and Downgrades
Several equities analysts have commented on ARE shares. ATB Cormark Capital Markets upped their price objective on shares of Aecon Group from C$42.00 to C$49.00 and gave the company a “sector perform” rating in a report on Thursday, April 30th. Jefferies Financial Group lifted their target price on shares of Aecon Group from C$49.00 to C$59.00 in a report on Monday, April 27th. Desjardins upped their price target on shares of Aecon Group from C$55.00 to C$61.00 and gave the company a “hold” rating in a research note on Monday, July 6th. BMO Capital Markets increased their price target on shares of Aecon Group from C$45.00 to C$49.00 and gave the company a “market perform” rating in a report on Wednesday, April 29th. Finally, Stifel Nicolaus upgraded shares of Aecon Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from C$46.00 to C$54.00 in a research report on Friday, June 26th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$55.08.
View Our Latest Stock Report on ARE
Aecon Group Stock Performance
Aecon Group (TSE:ARE – Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The company reported C($0.21) earnings per share for the quarter. The business had revenue of C$1.26 billion during the quarter. Aecon Group had a return on equity of 3.71% and a net margin of 0.62%. Equities analysts anticipate that Aecon Group Inc. will post 1.3793321 EPS for the current year.
Aecon Group Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 3rd. Shareholders of record on Friday, July 3rd were paid a dividend of $0.1925 per share. This represents a $0.77 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Tuesday, June 23rd. Aecon Group’s dividend payout ratio (DPR) is 138.64%.
Insiders Place Their Bets
In other Aecon Group news, insider Ernest Chan sold 521 shares of Aecon Group stock in a transaction on Friday, May 8th. The stock was sold at an average price of C$55.09, for a total value of C$28,701.89. Following the completion of the transaction, the insider directly owned 11,003 shares of the company’s stock, valued at C$606,155.27. The trade was a 4.52% decrease in their position. Also, Director John Michael Beck sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of C$49.77, for a total value of C$995,400.00. Following the sale, the director owned 201,417 shares of the company’s stock, valued at approximately C$10,024,524.09. The trade was a 9.03% decrease in their ownership of the stock. Insiders have sold a total of 23,451 shares of company stock worth $1,177,370 in the last 90 days. Company insiders own 0.82% of the company’s stock.
Aecon Group Company Profile
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.
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