Steven Neil Nackan Sells 1,000 Shares of Aecon Group (TSE:ARE) Stock

Aecon Group Inc. (TSE:ARE) insider Steven Neil Nackan sold 1,000 shares of Aecon Group stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of C$47.72, for a total transaction of C$47,720.00. Following the transaction, the insider owned 14,535 shares of the company’s stock, valued at C$693,610.20. The trade was a 6.44% decrease in their ownership of the stock.

Aecon Group Stock Down 2.1%

ARE stock traded down C$0.99 on Friday, reaching C$46.65. 144,659 shares of the company traded hands, compared to its average volume of 490,319. The firm has a fifty day simple moving average of C$47.13 and a 200-day simple moving average of C$43.99. The company has a market cap of C$3.20 billion, a P/E ratio of -49.11, a price-to-earnings-growth ratio of 18.18 and a beta of 1.41. Aecon Group Inc. has a one year low of C$19.81 and a one year high of C$57.72. 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) last released its earnings results on Thursday, July 30th. The company reported C$0.33 EPS for the quarter. The firm 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%. Research analysts anticipate that Aecon Group Inc. will post 1.3793321 earnings per share for the current year.

Aecon Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 3rd. Stockholders of record on Friday, July 3rd were paid a $0.1925 dividend. This represents a $0.77 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Tuesday, June 23rd. Aecon Group’s dividend payout ratio is currently -80.53%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ARE shares. Jefferies Financial Group boosted their price objective on shares of Aecon Group from C$49.00 to C$59.00 in a report on Monday, April 27th. Desjardins boosted their price target on 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. BMO Capital Markets upped their price target on Aecon Group from C$45.00 to C$49.00 and gave the company a “market perform” rating in a report on Wednesday, April 29th. Royal Bank Of Canada increased their price objective on Aecon Group from C$44.00 to C$49.00 and gave the company a “sector perform” rating in a research report on Thursday, April 30th. Finally, Raymond James Financial raised Aecon Group from a “hold” rating to a “moderate buy” rating and boosted their target price for the stock from C$52.00 to C$60.00 in a research report on Friday, July 3rd. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$55.08.

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.