Aecon Group (TSE:ARE) Shares Cross Above 200-Day Moving Average – Here’s Why

Aecon Group Inc. (TSE:ARE)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$22.91 and traded as high as C$31.43. Aecon Group shares last traded at C$31.11, with a volume of 193,562 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. TD Securities boosted their price objective on shares of Aecon Group from C$34.00 to C$39.00 and gave the company a “buy” rating in a research report on Sunday, November 2nd. Desjardins cut shares of Aecon Group from a “buy” rating to a “hold” rating and lifted their target price for the stock from C$22.00 to C$35.00 in a research note on Friday, October 31st. Canaccord Genuity Group increased their price target on Aecon Group from C$29.00 to C$40.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. ATB Capital cut Aecon Group from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from C$28.00 to C$32.00 in a report on Friday, October 31st. Finally, Royal Bank Of Canada upped their target price on Aecon Group from C$26.00 to C$30.00 and gave the company a “sector perform” rating in a research note on Monday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$33.00.

Aecon Group Trading Down 0.5%

The firm has a market capitalization of C$1.96 billion, a price-to-earnings ratio of 221.00, a P/E/G ratio of 18.18 and a beta of 1.53. The company has a debt-to-equity ratio of 32.84, a quick ratio of 1.27 and a current ratio of 1.19. The business has a fifty day moving average price of C$27.44 and a 200 day moving average price of C$23.02.

Aecon Group (TSE:ARE) last issued its earnings results on Wednesday, October 29th. The company reported C$0.53 earnings per share for the quarter. Aecon Group had a negative return on equity of 6.40% and a negative net margin of 1.56%.The firm had revenue of C$1.53 billion for the quarter. As a group, equities analysts forecast that Aecon Group Inc. will post 1.3793321 earnings per share for the current year.

Aecon Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, October 2nd were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, September 22nd. Aecon Group’s payout ratio is currently 542.86%.

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.