Key Points
- Director Scott Stewart bought 4,455 Aecon Group shares at an average price of C$44.89, investing nearly C$200,000 and increasing his direct ownership by 22.24% to 24,484 shares.
- Aecon shares opened at C$41.72, down 3.9%, and remain below their 50-day and 200-day moving averages. The company reported quarterly EPS of C$0.33 on revenue of C$1.63 billion, while posting negative net margin and return on equity.
- Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and an average price target of C$55.08. Aecon also pays a quarterly dividend of C$0.1925, equivalent to a 1.8% annual yield.
Aecon Group Inc. (TSE:ARE - Get Free Report) Director Scott Stewart purchased 4,455 shares of the stock in a transaction dated Friday, August 28th. The stock was acquired at an average price of C$44.89 per share, for a total transaction of C$199,984.95. Following the completion of the transaction, the director directly owned 24,484 shares of the company's stock, valued at approximately C$1,099,086.76. The trade was a 22.24% increase in their ownership of the stock.
Aecon Group Trading Down 3.9%
Shares of Aecon Group stock opened at C$41.72 on Wednesday. Aecon Group Inc. has a 1 year low of C$19.81 and a 1 year high of C$57.72. The company has a market capitalization of C$2.86 billion, a P/E ratio of -43.92, a P/E/G ratio of 18.18 and a beta of 1.41. The business has a 50 day moving average price of C$47.33 and a 200 day moving average price of C$45.21. The company has a debt-to-equity ratio of 84.23, a current ratio of 1.08 and a quick ratio of 1.27.
Aecon Group (TSE:ARE - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported C$0.33 EPS for the quarter. The business had revenue of C$1.63 billion for the quarter. Aecon Group had a negative return on equity of 6.76% and a negative net margin of 1.10%. Sell-side analysts anticipate that Aecon Group Inc. will post 1.3793321 EPS for the current fiscal year.
Aecon Group Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 3rd. Shareholders of record on Friday, July 3rd were issued a $0.1925 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $0.77 annualized dividend and a yield of 1.8%. Aecon Group's payout ratio is -80.53%.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the stock. Desjardins increased their price target on shares of Aecon Group from C$55.00 to C$61.00 and gave the stock a "hold" rating in a research note on Monday, July 6th. Canaccord Genuity Group increased their price target on Aecon Group from C$56.00 to C$57.00 and gave the company a "buy" rating in a report on Monday, June 29th. Stifel Nicolaus raised Aecon Group from a "hold" rating to a "buy" rating and raised their price objective for the company from C$46.00 to C$54.00 in a research report on Friday, June 26th. TD reduced their price objective on Aecon Group from C$62.00 to C$61.00 and set a "buy" rating on the stock in a research note on Friday, June 26th. Finally, Raymond James Financial upgraded Aecon Group from a "hold" rating to a "moderate buy" rating and upped their price target for the stock from C$52.00 to C$60.00 in a report on Friday, July 3rd. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Aecon Group currently has a consensus rating of "Moderate Buy" and a consensus target price of C$55.08.
Read Our Latest Research Report on Aecon Group
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.
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