Bird Construction (TSE:BDT) Hits New 1-Year High Following Analyst Upgrade

Key Points

• Bird Construction shares hit a new 52-week high after National Bank Financial lifted its price target from C$57 to C$72 and maintained an outperform rating. The stock traded as high as C$69.28 and was last up about 1.6%.
• Several analysts have recently turned more bullish on the company, with multiple firms raising their price targets and all nine covering analysts rating it a Buy. MarketBeat says the average target is now C$62.60.
• Bird Construction reported Q1 earnings of C$0.25 per share on revenue of C$783.37 million and also announced a monthly dividend of C$0.07 per share, payable August 20. The dividend implies a yield of about 1.2%.

Bird Construction Inc. (TSE:BDT - Get Free Report) shares reached a new 52-week high on Monday after National Bank Financial raised their price target on the stock from C$57.00 to C$72.00. National Bank Financial currently has an outperform rating on the stock. Bird Construction traded as high as C$69.28 and last traded at C$68.76, with a volume of 150525 shares changing hands. The stock had previously closed at C$67.64.

Several other equities analysts also recently commented on BDT. Raymond James Financial upped their price objective on Bird Construction from C$54.00 to C$60.00 and gave the company an "outperform" rating in a research note on Friday, May 15th. TD Securities raised their target price on Bird Construction from C$31.00 to C$44.00 and gave the stock a "buy" rating in a research report on Monday, March 16th. Canaccord Genuity Group boosted their target price on Bird Construction from C$50.00 to C$62.00 and gave the company a "buy" rating in a research note on Friday, May 15th. Stifel Nicolaus set a C$55.00 price target on Bird Construction and gave the company a "buy" rating in a research report on Friday, April 17th. Finally, Jefferies Financial Group increased their price target on Bird Construction from C$44.00 to C$63.00 in a research note on Monday, April 27th. Nine equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of C$62.60.

Bird Construction Stock Up 1.6%

The stock has a market capitalization of C$3.81 billion, a P/E ratio of 76.32, a price-to-earnings-growth ratio of 0.53 and a beta of 0.34. The company has a debt-to-equity ratio of 88.19, a current ratio of 1.24 and a quick ratio of 1.20. The stock has a fifty day moving average price of C$59.69 and a 200 day moving average price of C$43.57.

Bird Construction (TSE:BDT - Get Free Report) last released its quarterly earnings data on Wednesday, May 13th. The company reported C$0.25 earnings per share (EPS) for the quarter. The company had revenue of C$783.37 million for the quarter. Bird Construction had a return on equity of 11.25% and a net margin of 1.43%. On average, research analysts forecast that Bird Construction Inc. will post 2.7598533 earnings per share for the current year.

Bird Construction Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 20th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 1.2%. Bird Construction's dividend payout ratio is currently 93.33%.

About Bird Construction

Bird Construction Inc operates as a general contractor in the Canadian construction market. The company focuses primarily on projects in the industrial, commercial and institutional sectors of the general contracting industry. It provides construction services such as new construction for industrial, commercial, and institutional markets; industrial maintenance, repair and operations (MRO) services, heavy civil construction and contract surface mining; as well as vertical infrastructure including, electrical, mechanical, and specialty trades.

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