Sunday, 20 October, 2019


Chinese construction group to buy Canada's Aecon

Chinese construction group to buy Canada's Aecon Chinese construction group to buy Canada's Aecon
Conrad Doyle | 27 October, 2017, 16:58

Raymond James Financial, Inc. dropped their price target on Aecon Group from C$21.00 to C$19.00 and set an "outperform" rating for the company in a research report on Monday, October 16th. They expect $0.03 EPS, down 91.43% or $0.32 from last year's $0.35 per share. If you are accessing this story on another publication, it was copied illegally and republished in violation of US & global trademark & copyright legislation. After $0.01 actual earnings per share reported by Aecon Group Inc for the previous quarter, Wall Street now forecasts 4,100.00 % EPS growth. The rating was maintained by RBC Capital Markets with "Sector Perform" on Wednesday, March 8. T_ARE's profit would be $24.70M giving it 9.83 P/E if the $0.42 EPS is correct.

CCCI has developed several large and medium-sized ports and navigation channels along China's coast and inland rivers and has actively participated in and competed for projects under external assistance and the worldwide contracting projects. Finally, TD Securities lifted their price target on shares of Aecon Group from C$19.50 to C$20.00 and gave the company a "buy" rating in a research note on Monday, July 31st. On Tuesday, May 9 the stock rating was maintained by RBC Capital Markets with "Sector Perform". Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The firm's 50-day moving average price is $17.20 and its 200 day moving average price is $16.06. Aecon shares jumped more than 19% to C$19.73 on Thursday.

Aecon, which traces its roots back to 1877, has been named one of Canada's best employers every year since 2007 and in 2013 was named a top employer by the Globe and Mail.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. The ex-dividend date was Thursday, September 21st. Royal Bank Of Canada restated a "sector perform" rating and set a C$18.00 price objective on shares of Aecon Group in a report on Monday. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.03%.

Aecon Group will be delisted from the Toronto Stock Exchange following completion of the deal, which remains subject to regulatory approvals from China and Canada. Aecon has a strong management team that has made it a leading construction company in Canada and a pioneer in public-private partnerships (PPP) and concession operations.

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