Aecon Group (TSE:ARE) Releases Quarterly Earnings Results

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

Aecon Group Trading Up 0.4%

Shares of ARE stock opened at C$53.46 on Friday. Aecon Group has a 52-week low of C$25.05 and a 52-week high of C$59.96. The stock has a market cap of C$3.66 billion, a price-to-earnings ratio of -56.27, a P/E/G ratio of 18.18 and a beta of 1.16. The firm has a fifty day moving average of C$49.22 and a 200-day moving average of C$45.17. The company has a debt-to-equity ratio of 84.23, a quick ratio of 1.27 and a current ratio of 1.08.

Aecon Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, October 2nd were given a $0.1925 dividend. The ex-dividend date was Tuesday, September 22nd. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.4%. Aecon Group’s dividend payout ratio (DPR) is currently -80.53%.

Analyst Ratings Changes

Several research analysts have recently issued reports on ARE shares. National Bank Financial lifted their price target on Aecon Group from C$64.00 to C$66.00 and gave the stock an “outperform” rating in a research note on Thursday, October 15th. Desjardins raised their price target 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. Finally, Raymond James Financial raised Aecon Group from a “hold” rating to a “moderate buy” rating and upped their price target for the company from C$52.00 to C$60.00 in a research report on Friday, July 3rd. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$55.17.

Insider Activity

In related news, Director Scott Stewart purchased 4,455 shares of Aecon Group stock in a transaction that occurred on Friday, August 28th. The stock was purchased at an average cost of C$44.89 per share, with a total value of C$199,984.95. Following the completion of the transaction, the director owned 24,484 shares of the company’s stock, valued at approximately C$1,099,086.76. This trade represents a 22.24% increase in their position. Also, insider Steven Neil Nackan sold 4,500 shares of the business’s 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 value of C$204,975.00. Following the transaction, the insider directly owned 8,035 shares in the company, valued at approximately C$365,994.25. This trade represents a 35.90% decrease in their position. Insiders sold a total of 7,500 shares of company stock valued at $343,875 in the last 90 days. Corporate 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.