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Bullboard - Stock Discussion Forum Aecon Group Inc T.ARE

Alternate Symbol(s):  AEGXF

Aecon Group Inc. is a Canada-based construction and infrastructure development company. The Company delivers integrated solutions to private and public sector clients throughout Canada and other countries. It operates through two segments within the infrastructure development industry: Construction and Concessions. Its Construction segment includes all aspects of the construction of both public... see more

TSX:ARE - Post Discussion

Aecon Group Inc > Michael Sprung - BNN - Top Pick
View:
Post by Possibleidiot01 on May 02, 2023 4:42pm

Michael Sprung - BNN - Top Pick

Aecon Group (ARE TSX)

Owned personally and by clients, last purchase October 2022 at $10.45

Aecon is a leading construction and infrastructure company. With the recent sales of a 49.9 per cent minority stake in the Bermuda International Airport concession for US$128.5 million and the sale of the Ontario road-building business for $235 million, ARE is in a much stronger financial position. The four remaining problem fixed-price contracts should be substantially completed by next year. Aecon is now in a position to concentrate on more lucrative contracts in a robust bidding environment. At current levels, the stock is yielding near 5.9 per cent.

stockchase.com
 

TOP PICK

Finally some good news for them--sold 49.9% stake in the Bermuda airport (finally), and they just sold their Ontario road construction business. Are in much stronger financial position. Four legacy contracts at a fixed price will run out end-2023/early-2024. After that will be strong margin expansion. Pays around a 6% dividend and trades at a good PE vs. peers.

(Analysts’ price target is $16.09)
contractors
N/A
Owned
Comment by Gabriel on May 04, 2023 9:26am
On BNN Bloomberg: https://www.bnnbloomberg.ca/michael-sprung-s-top-picks-may-2-2023-1.1914970.amp.html