Aecon Group (TSE:ARE) Stock Price Crosses Below 50 Day Moving Average – Time to Sell?

Aecon Group Inc. (TSE:ARE) crossed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of C$49.31 and traded as low as C$48.57. Aecon Group shares last traded at C$49.23, with a volume of 1,240,233 shares traded.

Analyst Upgrades and Downgrades

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

Aecon Group Trading Down 7.9%

The firm has a market cap of C$3.38 billion, a price-to-earnings ratio of -63.94, a price-to-earnings-growth ratio of 18.18 and a beta of 1.16. The company has a quick ratio of 1.27, a current ratio of 1.10 and a debt-to-equity ratio of 56.97. The business has a 50 day moving average of C$49.31 and a 200 day moving average of C$45.25.

Aecon Group (TSE:ARE) last issued its quarterly earnings data on Thursday, October 29th. The company reported C$0.86 earnings per share (EPS) for the quarter. Aecon Group had a negative net margin of 0.83% and a negative return on equity of 5.32%. The company had revenue of C$1.92 billion during the quarter. On average, research analysts forecast that Aecon Group Inc. will post 1.38 earnings per share for the current fiscal year.

Aecon Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, October 2nd were given a dividend of $0.1925 per share. The ex-dividend date of this dividend was Tuesday, September 22nd. This represents a $0.77 dividend on an annualized basis and a yield of 1.6%. Aecon Group’s payout ratio is currently -99.68%.

Insider Buying and Selling at Aecon Group

In other Aecon Group news, insider Steven Neil Nackan sold 4,500 shares of the stock in a transaction 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 completion of the transaction, the insider directly owned 8,035 shares in the company, valued at C$365,994.25. This represents a 35.90% decrease in their ownership of the stock. Also, Director Scott Stewart purchased 4,455 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The shares were acquired at an average cost of C$44.89 per share, with a total value of C$199,984.95. Following the completion of the purchase, the director owned 24,484 shares of the company’s stock, valued at C$1,099,086.76. The trade was a 22.24% increase in their ownership of the stock. Insiders sold a total of 7,500 shares of company stock worth $343,875 in 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.