Aecon Group (TSE:ARE) Sets New 12-Month High – Still a Buy?

Aecon Group Inc. (TSE:ARE)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as C$44.35 and last traded at C$44.33, with a volume of 116129 shares. The stock had previously closed at C$42.46.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ARE. ATB Cormark Capital Markets increased their target price on Aecon Group from C$35.00 to C$39.00 and gave the stock a “sector perform” rating in a research note on Monday, March 9th. Canaccord Genuity Group upped their price target on shares of Aecon Group from C$40.00 to C$52.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. TD Securities increased their price objective on shares of Aecon Group from C$39.00 to C$47.00 and gave the company a “buy” rating in a research report on Monday, March 9th. National Bank Financial raised their price objective on shares of Aecon Group from C$35.00 to C$45.00 and gave the company an “outperform” rating in a research note on Monday, March 9th. Finally, Stifel Nicolaus decreased their target price on shares of Aecon Group from C$34.25 to C$28.75 and set a “hold” rating for the company in a report on Monday, March 9th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$39.38.

Aecon Group Trading Down 3.7%

The firm has a market cap of C$2.70 billion, a P/E ratio of 183.04, a price-to-earnings-growth ratio of 18.18 and a beta of 1.10. The stock has a fifty day simple moving average of C$37.91 and a 200 day simple moving average of C$31.21. The company has a debt-to-equity ratio of 65.17, a quick ratio of 1.27 and a current ratio of 1.10.

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

Aecon Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Thursday, April 2nd will be issued a dividend of $0.1925 per share. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, March 23rd. Aecon Group’s dividend payout ratio (DPR) is presently 330.43%.

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.