Shares of Aecon Group Inc. (ARE – Research Report) were revisited by a Wall Street analyst yesterday. Analyst Industrial Alliance Securities from iA Capital Markets remains bullish on the stock and has a C$16.00 price target.
Aecon Group Inc. has an analyst consensus of Moderate Buy, with a price target consensus of C$13.25, implying a 26.7% upside from current levels. In a report issued on July 27, BMO Capital also assigned a Buy rating to the stock with a C$14.00 price target.
Based on Aecon Group Inc.’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$1.11 billion and GAAP net loss of C$9.44 million. In comparison, last year the company earned revenue of C$986 million and had a GAAP net loss of C$788 million.
Aecon Group Inc is a Canada-based company that operates in two major 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 primarily engaged in the development, financing, construction, and operation of infrastructure projects. Aecon generates the majority of its revenue from the Construction segment.
The company’s shares closed last Friday at C$10.83.
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