Canaccord Genuity Group Issues Positive Forecast for Aecon Group (TSE:ARE) Stock Price

Aecon Group (TSE:ARE) had its price objective raised by Canaccord Genuity Group from C$40.00 to C$52.00 in a report released on Monday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 27.89% from the company’s current price.

A number of other brokerages have also weighed in on ARE. Stifel Nicolaus cut their target price 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. ATB Cormark Capital Markets raised their target price on Aecon Group from C$35.00 to C$39.00 and gave the stock a “sector perform” rating in a research note on Monday. Finally, TD Securities increased their price target on shares of Aecon Group from C$39.00 to C$47.00 in a report on Monday. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Aecon Group presently has a consensus rating of “Hold” and a consensus target price of C$37.48.

Aecon Group Stock Up 0.6%

Shares of ARE traded up C$0.25 during trading hours on Monday, reaching C$40.66. The stock had a trading volume of 454,598 shares, compared to its average volume of 385,928. Aecon Group has a 12 month low of C$15.21 and a 12 month high of C$41.90. The firm has a 50-day simple moving average of C$35.12 and a 200 day simple moving average of C$29.25. The company has a current ratio of 1.10, a quick ratio of 1.27 and a debt-to-equity ratio of 65.17. The company has a market capitalization of C$2.57 billion, a price-to-earnings ratio of 290.43, a P/E/G ratio of 18.18 and a beta of 1.10.

Aecon Group (TSE:ARE) last released its quarterly earnings data on Thursday, March 5th. The company reported C$0.52 earnings per share for the quarter. The firm had revenue of C$1.54 billion for the quarter. Aecon Group had a net margin of 0.28% and a return on equity of 1.66%. Equities research analysts predict that Aecon Group will post 1.3793321 earnings per share for the current fiscal year.

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.