Aecon Group Inc (ARE.TO) Buy, Sell or Hold

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Aecon Group Inc (ARE.TO)

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43.58

-0.07 (0.16%)

as of Jun 18, 2026, 4:54:23 pm Market Open.

427 watching

Investor Insights

Jun 18, 2026, 12:00 am

This summary was created by AI, based on 20 opinions in the last 12 months.

Aecon Group Inc (ARE-T) is currently navigating a landscape shaped by significant infrastructure investment in Canada, reflected in a record backlog of $10.9 billion. Despite strong revenue growth of 18% last quarter, experts advise caution due to prevailing market volatility and concerns over cost overruns from legacy fixed-price contracts. Many analysts highlight the company's shift towards more sustainable fee-for-service contracts and variable pricing, which enhance cash flow predictability and earnings stability. With ongoing projects in nuclear power and increasing demand for infrastructure, Aecon is poised for potential growth, although some perceive the stock as overbought at its current levels. Overall, experts remain optimistic about its long-term prospects while acknowledging near-term market pressures and volatility.

Consensus

Hold

Valuation

Fair Value

Similar

WSP

DON'T BUY

Ton of demand in the space. Some of its deals were less profitable than originally thought. Big fan of WSP or STN, which focus on the engineering rather than the risk of contract pricing.

BUY

As stocks come off, lots of companies get forgotten. Earnings a bit weak, analysts reduced targets. Price reasonable, dividend safe. Infrastructure pretty inflation resistant. At these levels around $12.50, you'll be a winner.

HOLD

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. They reported a loss of $0.29 vs the expected $0.3. Revenues were up 31% compared to last year at $986 million. Backlog of $6.4B was up nicely from $5.9 a year ago. Saw some good contracts and expansion. Results are fine but cash flows were negative and this trend needs to reverse. Unlock Premium - Try 5i Free

BUY ON WEAKNESS

Does not own shares in company. Company has faced challenges in the past few quarters. Coastal Gas Link disputes has created uncertainty with cash flows. Appears agreement is approaching with Coastal Gas Link which will help share price. Good exposure to construction market and Provincial/Federal projects. Wait to buy on improved earnings.

BUY

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. It has strong market share. Likes it for income although growth is less attractive than WSP. The valuation is at 19x earnings right now. Pays a 4% dividend. Unlock Premium - Try 5i Free

WEAK BUY

Prefers to own the concessions, not the builders. But if you're set on owning E&C, he likes the growth profile and position in the US and globally. Would benefit from increased activity in the US. Also likes WSP, with its strong growth and good margin profile relative to competitors.

PAST TOP PICK

(A Top Pick Jan 11/21, Up 7%) Never bet on the government. Infrastructure bill has sputtered. Stock's on the cheap side, so he's not worried about it.

TOP PICK

There's more infrastructure spending coming. They're the top candidate to build rapid transit to Trudeau Airport. They won a water project in BC. They got a contract from Bruce Nuclear. They scored a big contract in Washington DC near I-95. Aecon is reasonably priced. (Analysts’ price target is $22.19)

TOP PICK

Good run last year, now has come off. Financial results show they've been steadily increasing dividend, earnings, and backlog. Need for services continues to grow. First deal in the US is potentially transformational. Strong fundamental business outlook. Yield is 4.23%. (Analysts’ price target is $22.27)

COMMENT

Likes infrastructure sector especially with USA "build back better" program. Margins under pressure with Aecon. Believes there are better infrastructure investments out there.

BUY

The stock came off because their backlog has been weaker than expected, and the cost overruns of their coastal gaslink. Their future is strong. Well-run and pays a good dividend, but shares will be lumpy and cyclical. You'll be fine buying at the bottom and holding long term.

BUY ON WEAKNESS

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. They announced earnings last week and although EPS beat, revenu missed. Investors are worried about slowing revenue growth. There was a sharp decline in share price, but the infrastructure spending is a tailwind. Okay for a long-term investment. Unlock Premium - Try 5i Free

TOP PICK

Have seen many new highs in stocks in the same group. Will benefit from the trillion dollar infrastructure bill. Pays a 3.2% dividend yield. Cashflow has grown significantly to $110M. Very attractive 12.3x cashflow yield. Sales up 27%, cashflow up 124%. Earnings estimates were bumped up by 9%. (Analysts’ price target is $23.54)

PAST TOP PICK

(A Top Pick Aug 18/20, Up 46%) Finally showing its true value. Ongoing demand for their expertise. Likes cashflow and dividend record. Continues to buy for clients.

PARTIAL BUY

The lockdown in the second quarter brought fear into the projects that Aecon is working on. There is also a global picture where infrastructure projects are coming. One of the better plays for the long term with the infrastructure spending.

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Aecon Group Inc (ARE.TO)