National Bankshares Cuts Aecon Group (TSE:ARE) Price Target to C$23.00

Aecon Group (TSE:ARE) had its target price cut by National Bankshares from C$30.00 to C$23.00 in a research note issued to investors on Friday morning,BayStreet.CA reports. They currently have a sector perform rating on the stock.

ARE has been the subject of a number of other research reports. CIBC lowered their target price on shares of Aecon Group from C$33.00 to C$30.00 in a research note on Friday. National Bank Financial downgraded shares of Aecon Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Stifel Nicolaus downgraded shares of Aecon Group from a “buy” rating to a “hold” rating and decreased their price objective for the company from C$31.00 to C$19.00 in a research note on Friday. BMO Capital Markets decreased their price objective on shares of Aecon Group from C$29.00 to C$24.00 in a research note on Friday. Finally, Desjardins decreased their price objective on shares of Aecon Group from C$32.00 to C$29.00 and set a “buy” rating for the company in a research note on Friday. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of C$24.98.

Aecon Group Stock Performance

Shares of ARE stock opened at C$17.96 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.27 and a debt-to-equity ratio of 32.84. The firm has a fifty day moving average price of C$24.19 and a 200 day moving average price of C$23.92. The company has a market cap of C$1.14 billion, a P/E ratio of -17.67, a PEG ratio of 18.18 and a beta of 1.13. Aecon Group has a 12 month low of C$13.03 and a 12 month high of C$29.70.

Aecon Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, January 3rd were issued a dividend of $0.19 per share. The ex-dividend date was Tuesday, December 24th. This represents a $0.76 annualized dividend and a yield of 4.23%. Aecon Group’s dividend payout ratio is currently -74.76%.

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.