Aecon Group (TSE:ARE) Releases Earnings Results

Aecon Group (TSE:AREGet Free Report) posted its earnings results on Thursday. The company reported C$0.33 EPS for the quarter, FiscalAI reports. Aecon Group had a return on equity of 3.71% and a net margin of 0.62%.The firm had revenue of C$1.63 billion for the quarter.

Aecon Group Trading Up 1.0%

ARE opened at C$45.23 on Friday. The firm has a market cap of C$3.10 billion, a price-to-earnings ratio of 82.24, a price-to-earnings-growth ratio of 18.18 and a beta of 1.38. Aecon Group has a 52 week low of C$17.06 and a 52 week high of C$57.72. The business’s 50 day moving average is C$46.99 and its two-hundred day moving average is C$43.50. The company has a quick ratio of 1.27, a current ratio of 1.16 and a debt-to-equity ratio of 42.80.

Aecon Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 3rd. Investors 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 1.7%. The ex-dividend date was Tuesday, June 23rd. Aecon Group’s dividend payout ratio (DPR) is currently 138.64%.

Insider Buying and Selling at Aecon Group

In other news, Director John Michael Beck sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of C$49.77, for a total transaction of C$995,400.00. Following the transaction, the director directly owned 201,417 shares in the company, valued at approximately C$10,024,524.09. This trade represents a 9.03% decrease in their ownership of the stock. Also, insider Timothy John Murphy sold 2,930 shares of Aecon Group stock in a transaction on Monday, May 11th. The shares were sold at an average price of C$52.31, for a total transaction of C$153,268.30. Following the completion of the transaction, the insider directly owned 4,801 shares in the company, valued at C$251,140.31. The trade was a 37.90% decrease in their ownership of the stock. Over the last quarter, insiders sold 23,451 shares of company stock worth $1,177,370. 0.82% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ARE. ATB Cormark Capital Markets increased their price objective on 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 increased their price target on shares of Aecon Group from C$49.00 to C$59.00 in a research note on Monday, April 27th. Raymond James Financial raised shares of Aecon Group from a “hold” rating to a “moderate buy” rating and raised their price objective for the stock from C$52.00 to C$60.00 in a report on Friday, July 3rd. Stifel Nicolaus upgraded shares of Aecon Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from C$46.00 to C$54.00 in a research report on Friday, June 26th. Finally, National Bank Financial upped their target price on shares of Aecon Group from C$59.00 to C$65.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$55.08.

Read Our Latest Analysis on ARE

About Aecon Group

(Get Free Report)

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.

Further Reading

Earnings History for Aecon Group (TSE:ARE)

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