Aecon Group (TSE:ARE) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Aecon Group Inc. (TSE:ARE) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$18.52 and traded as high as C$28.22. Aecon Group shares last traded at C$27.99, with a volume of 145,659 shares.

Analysts Set New Price Targets

Several research analysts have weighed in on ARE shares. National Bank Financial raised Aecon Group from a “hold” rating to a “strong-buy” rating in a research report on Sunday, July 28th. Stifel Nicolaus raised their price objective on shares of Aecon Group from C$30.00 to C$31.00 in a report on Friday, October 4th. Royal Bank of Canada boosted their target price on shares of Aecon Group from C$13.00 to C$17.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Canaccord Genuity Group upped their price objective on Aecon Group from C$28.00 to C$33.00 in a research note on Monday, November 4th. Finally, Stifel Canada raised Aecon Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$25.94.

Aecon Group Stock Performance

The business has a fifty day moving average of C$22.46 and a 200 day moving average of C$18.59. The company has a quick ratio of 1.27, a current ratio of 1.35 and a debt-to-equity ratio of 32.86. The company has a market cap of C$1.80 billion, a P/E ratio of -107.89, a P/E/G ratio of 18.18 and a beta of 1.13.

Aecon Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Wednesday, October 2nd were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.76 annualized dividend and a dividend yield of 2.63%. Aecon Group’s dividend payout ratio is presently -281.48%.

Aecon Group Company Profile

Aecon Group Inc, together with its subsidiaries, provide construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally. It operates through two segments, Construction and Concessions. The Construction segment focuses on civil infrastructure, urban transportation solutions, nuclear power infrastructure, utility infrastructure, and conventional industrial infrastructure market sectors.