Aecon Group Inc (ARE) Receives C$20.13 Consensus Target Price from Analysts
Aecon Group Inc (TSE:ARE) has been given an average recommendation of “Buy” by the nine analysts that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is C$20.13.
Several equities analysts recently weighed in on ARE shares. Industrial Alliance Securities upgraded shares of Aecon Group from a “tender” rating to a “hold” rating and reduced their price target for the company from C$20.37 to C$17.50 in a research report on Thursday, May 24th. Royal Bank of Canada reduced their price target on shares of Aecon Group from C$20.00 to C$17.00 and set a “sector perform” rating for the company in a research report on Thursday, May 24th. CIBC reduced their price target on shares of Aecon Group from C$20.37 to C$20.00 in a research report on Thursday, May 24th. Canaccord Genuity increased their price target on shares of Aecon Group from C$20.37 to C$22.00 in a research report on Thursday, May 24th. Finally, Desjardins restated a “buy” rating on shares of Aecon Group in a research report on Thursday, May 24th.
Shares of ARE stock traded down C$0.04 on Wednesday, hitting C$16.57. The stock had a trading volume of 225,000 shares, compared to its average volume of 341,946. Aecon Group has a 12-month low of C$14.27 and a 12-month high of C$20.06.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 21st will be given a dividend of $0.125 per share. The ex-dividend date is Thursday, September 20th. This represents a $0.50 annualized dividend and a yield of 3.02%.
In related news, Director John Michael Beck sold 48,800 shares of the stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of C$16.66, for a total transaction of C$813,008.00.
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.
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