Ernest Chan Sells 521 Shares of Aecon Group (TSE:ARE) Stock

Aecon Group Inc. (TSE:ARE) insider Ernest Chan sold 521 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of C$55.09, for a total value of C$28,701.89. Following the transaction, the insider directly owned 11,003 shares of the company’s stock, valued at approximately C$606,155.27. The trade was a 4.52% decrease in their ownership of the stock.

Aecon Group Trading Down 5.5%

ARE opened at C$50.08 on Wednesday. The firm has a market cap of C$3.43 billion, a P/E ratio of 91.05, a P/E/G ratio of 18.18 and a beta of 1.16. Aecon Group Inc. has a 12 month low of C$17.06 and a 12 month high of C$57.72. The company has a current ratio of 1.16, a quick ratio of 1.27 and a debt-to-equity ratio of 42.80. The stock has a 50-day moving average of C$44.75 and a 200 day moving average of C$36.38.

Aecon Group (TSE:ARE) last released its quarterly earnings results on Tuesday, April 28th. The company reported C($0.21) EPS for the quarter. The company 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%. As a group, research analysts forecast that Aecon Group Inc. will post 1.3793321 EPS for the current year.

Aecon Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Thursday, April 2nd were paid a dividend of $0.1925 per share. This represents a $0.77 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, March 23rd. Aecon Group’s payout ratio is currently 138.64%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. National Bank Financial increased their target price on shares of Aecon Group from C$48.00 to C$59.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. TD Securities boosted their price objective on shares of Aecon Group from C$47.00 to C$49.00 and gave the company a “buy” rating in a report on Monday, March 30th. BMO Capital Markets boosted their target price on shares of Aecon Group from C$45.00 to C$49.00 and gave the company a “market perform” rating in a research report on Wednesday, April 29th. TD boosted their target price on shares of Aecon Group from C$49.00 to C$59.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Raymond James Financial upped their price objective on shares of Aecon Group from C$44.00 to C$54.00 in a research report on Wednesday, April 29th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of C$52.29.

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.