Aecon Group (TSE:ARE) Announces Earnings Results

Aecon Group (TSE:ARE) issued its earnings results on Thursday. The company reported C$0.86 earnings per share (EPS) for the quarter, FiscalAI reports. Aecon Group had a negative net margin of 1.10% and a negative return on equity of 6.76%. The business had revenue of C$1.92 billion for the quarter.

Aecon Group Stock Down 7.9%

ARE opened at C$49.23 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.08 and a debt-to-equity ratio of 84.23. The firm has a 50 day moving average price of C$49.31 and a 200-day moving average price of C$45.25. Aecon Group has a twelve month low of C$25.05 and a twelve month high of C$59.96. The stock has a market capitalization of C$3.37 billion, a price-to-earnings ratio of -51.82, a PEG ratio of 18.18 and a beta of 1.16.

Aecon Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, October 2nd were paid a dividend of $0.1925 per share. This represents a $0.77 annualized dividend and a yield of 1.6%. The ex-dividend date was Tuesday, September 22nd. Aecon Group’s dividend payout ratio (DPR) is currently -80.53%.

Analysts Set New Price Targets

A number of brokerages have recently commented on ARE. National Bank Financial increased their price target on shares of Aecon Group from C$64.00 to C$66.00 and gave the stock an “outperform” rating in a report on Thursday, October 15th. Desjardins upped their target price on shares of Aecon Group from C$55.00 to C$61.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Finally, Raymond James Financial increased their target price on Aecon Group from C$60.00 to C$65.00 and gave the company an “outperform” rating in a research note on Friday. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$55.58.

Insider Activity

In related news, insider Steven Neil Nackan sold 4,500 shares of Aecon Group stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of C$45.55, for a total transaction of C$204,975.00. Following the sale, the insider owned 8,035 shares of the company’s stock, valued at approximately C$365,994.25. This trade represents a 35.90% decrease in their position. Also, Director Scott Stewart acquired 4,455 shares of the company’s stock in a transaction on Friday, August 28th. The shares were bought at an average cost of C$44.89 per share, with a total value of C$199,984.95. Following the acquisition, the director directly owned 24,484 shares in the company, valued at approximately C$1,099,086.76. The trade was a 22.24% increase in their ownership of the stock. Insiders sold 7,500 shares of company stock worth $343,875 over the last three months. Insiders own 0.82% of the company’s stock.

About Aecon Group

Aecon Group Inc (TSX: ARE) is a North American construction and infrastructure development company with global experience. Aecon delivers integrated solutions to private and public-sector clients through its Construction segment in the Civil, Urban Transportation, Nuclear, Utility and Industrial sectors, and provides project development, financing, investment, management, and operations and maintenance services through its Concessions segment.