Aecon Group (TSE:ARE) Share Price Passes Above 200-Day Moving Average – What’s Next?

Aecon Group Inc. (TSE:ARE)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$38.53 and traded as high as C$45.80. Aecon Group shares last traded at C$45.57, with a volume of 288,851 shares changing hands.

Analyst Ratings Changes

ARE has been the subject of several recent analyst reports. Royal Bank Of Canada increased their target price on Aecon Group from C$44.00 to C$49.00 and gave the company a “sector perform” rating in a research note on Thursday, April 30th. Canaccord Genuity Group upped their price target on Aecon Group from C$52.00 to C$56.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Canadian Imperial Bank of Commerce upped their price target on Aecon Group from C$45.00 to C$48.00 in a report on Thursday, April 9th. 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. Finally, Desjardins upped their price target on Aecon Group from C$45.00 to C$52.00 and gave the company a “hold” rating in a report on Thursday, April 30th. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of C$52.29.

Aecon Group Stock Performance

The firm has a fifty day simple moving average of C$46.78 and a 200 day simple moving average of C$38.53. The company has a current ratio of 1.16, a quick ratio of 1.27 and a debt-to-equity ratio of 42.80. The stock has a market cap of C$3.12 billion, a price-to-earnings ratio of 82.85, a PEG ratio of 18.18 and a beta of 1.36.

Aecon Group (TSE:ARE) last posted its quarterly earnings results on Tuesday, April 28th. The company reported C($0.21) EPS for the quarter. The firm had revenue of C$1.26 billion during the quarter. Aecon Group had a net margin of 0.62% and a return on equity of 3.71%. As a group, sell-side analysts expect that Aecon Group Inc. will post 1.3793321 earnings per share for the current year.

Aecon Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Thursday, April 2nd were issued a $0.1925 dividend. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.7%. Aecon Group’s dividend payout ratio is presently 138.64%.

Insider Buying and Selling

In other news, Director John Michael Beck sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of C$49.77, for a total value of C$995,400.00. Following the completion of the transaction, the director directly owned 201,417 shares of the company’s stock, valued at approximately C$10,024,524.09. This represents a 9.03% decrease in their position. Also, Director Eric Stuart Rosenfeld sold 125,000 shares of the stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of C$41.64, for a total value of C$5,205,000.00. Following the completion of the transaction, the director directly owned 184,200 shares of the company’s stock, valued at approximately C$7,670,088. The trade was a 40.43% decrease in their ownership of the stock. In the last quarter, insiders sold 148,451 shares of company stock valued at $6,382,370. 0.82% of the stock is currently owned by corporate insiders.

Aecon Group Company Profile

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.