Aecon Group (TSE:ARE) Given New C$22.00 Price Target at Royal Bank of Canada

Aecon Group (TSE:ARE) had its price objective boosted by Royal Bank of Canada from C$20.00 to C$22.00 in a research note released on Monday morning, BayStreet.CA reports.

Several other brokerages also recently commented on ARE. Raymond James restated a strong-buy rating and set a C$26.00 price objective on shares of Aecon Group in a research report on Friday, July 26th. Canaccord Genuity raised their price objective on shares of Aecon Group from C$24.00 to C$26.00 in a research report on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of C$24.50.

Shares of ARE stock opened at C$20.42 on Monday. The company has a market cap of $1.23 billion and a P/E ratio of 16.67. Aecon Group has a one year low of C$15.54 and a one year high of C$21.83. The company’s fifty day moving average price is C$19.63. The company has a quick ratio of 1.51, a current ratio of 1.65 and a debt-to-equity ratio of 87.58.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Wednesday, July 3rd were given a dividend of $0.145 per share. The ex-dividend date of this dividend was Thursday, June 20th. This represents a $0.58 annualized dividend and a dividend yield of 2.84%. Aecon Group’s payout ratio is 44.08%.

Aecon Group Company Profile

Aecon Group Inc provides construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally. It operates through three segments: Infrastructure, Industrial, and Concessions. The Infrastructure segment is involved in the construction of roads and bridges, and rail and transit systems, as well as in municipal road construction, asphalt production and aggregates, material engineering and design, and foundation activities.

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Analyst Recommendations for Aecon Group (TSE:ARE)

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