Aecon Group (TSE:ARE) Reaches New 52-Week High – Time to Buy?

Aecon Group Inc. (TSE:ARE) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$42.53 and last traded at C$42.48, with a volume of 279752 shares. The stock had previously closed at C$41.26.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ARE. Stifel Nicolaus cut their price objective on shares of Aecon Group from C$34.25 to C$28.75 and set a “hold” rating for the company in a research report on Monday, March 9th. Canaccord Genuity Group increased their price target on shares of Aecon Group from C$40.00 to C$52.00 and gave the company a “buy” rating in a research note on Monday, March 9th. ATB Cormark Capital Markets raised their price target on shares of Aecon Group from C$35.00 to C$39.00 and gave the stock a “sector perform” rating in a report on Monday, March 9th. National Bank Financial lifted their price target on shares of Aecon Group from C$35.00 to C$45.00 and gave the company an “outperform” rating in a research report on Monday, March 9th. Finally, Raymond James Financial upped their price objective on Aecon Group from C$33.00 to C$41.00 and gave the company a “market perform” rating in a report on Tuesday, March 10th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of C$39.38.

Aecon Group Stock Up 3.0%

The business’s fifty day moving average price is C$36.25 and its 200 day moving average price is C$30.12. The firm has a market capitalization of C$2.69 billion, a price-to-earnings ratio of 303.64, a PEG ratio of 18.18 and a beta of 1.10. The company has a current ratio of 1.10, a quick ratio of 1.27 and a debt-to-equity ratio of 65.17.

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

Aecon Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Thursday, April 2nd will be issued a dividend of $0.1925 per share. The ex-dividend date of this dividend is Monday, March 23rd. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.8%. Aecon Group’s dividend payout ratio (DPR) is currently 542.86%.

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.