Aecon Group (ARE) Sets New 52-Week High at $20.04

Shares of Aecon Group Inc (TSE:ARE) reached a new 52-week high on Thursday . The company traded as high as C$20.04 and last traded at C$19.90, with a volume of 71939 shares trading hands. The stock had previously closed at C$19.84.

ARE has been the subject of a number of analyst reports. National Bank Financial lowered shares of Aecon Group from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from C$20.00 to C$23.00 in a research note on Monday, October 23rd. Raymond James Financial reduced their price objective on shares of Aecon Group from C$21.00 to C$19.00 and set an “outperform” rating for the company in a research note on Monday, October 16th. CIBC lowered shares of Aecon Group from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from C$21.00 to C$20.37 in a research note on Friday, October 27th. Desjardins raised their price objective on shares of Aecon Group from C$19.00 to C$20.37 in a research note on Friday, October 27th. Finally, Industrial Alliance Securities lowered shares of Aecon Group from a “strong-buy” rating to a “tender” rating and reduced their price objective for the company from C$20.50 to C$20.37 in a research note on Friday, October 27th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of C$20.21.

The stock has a market capitalization of $1,170.00, a P/E ratio of 39.80 and a beta of 0.61.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Tuesday, January 2nd will be paid a $0.125 dividend. The ex-dividend date is Thursday, December 21st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.51%. Aecon Group’s dividend payout ratio is presently 98.00%.

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About Aecon Group

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 four segments: Infrastructure, Energy, Mining, and Concessions. The Infrastructure segment is involved in the construction of roads and bridges, and rail and transit systems, as well as in asphalt production and aggregates, municipal construction, commercial site design, and material engineering and design activities.

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