Bird Construction (TSE:BDT) Sets New 12-Month High Following Dividend Announcement

Key Points

• Shares of Bird Construction hit a new 52-week high of C$40.00 after the company announced a C$0.07 dividend, payable April 20 with an ex-dividend date of March 31.
• Multiple analysts raised price targets (BMO to C$52, Raymond James to C$44) and the stock carries a consensus Buy rating with an average target of C$41.38.
• Bird has a market capitalization of C$2.17 billion and a P/E of 45.52 with a 2.1% dividend yield, but a high payout ratio of about 97.7%, meaning most earnings are being distributed as dividends.

Shares of Bird Construction Inc. (TSE:BDT - Get Free Report) hit a new 52-week high on Tuesday following a dividend announcement from the company. The stock traded as high as C$40.00 and last traded at C$39.15, with a volume of 457062 shares trading hands. The stock had previously closed at C$39.44.The newly announced dividend which will be paid on Monday, April 20th. Stockholders of record on Monday, April 20th will be given a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 2.1%. Bird Construction's dividend payout ratio is currently 97.67%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. BMO Capital Markets increased their price target on shares of Bird Construction from C$38.00 to C$52.00 and gave the stock an "outperform" rating in a research note on Thursday, March 26th. Canaccord Genuity Group boosted their price objective on shares of Bird Construction from C$33.00 to C$37.00 and gave the stock a "buy" rating in a research note on Friday, March 13th. Raymond James Financial upped their price objective on shares of Bird Construction from C$34.00 to C$44.00 and gave the stock an "outperform" rating in a report on Friday, March 13th. National Bank Financial raised their target price on shares of Bird Construction from C$34.00 to C$39.00 and gave the company an "outperform" rating in a research note on Friday, March 13th. Finally, ATB Cormark Capital Markets lifted their target price on shares of Bird Construction from C$35.00 to C$38.00 and gave the company an "outperform" rating in a report on Friday, March 13th. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of C$41.38.

Bird Construction Price Performance

The firm has a fifty day moving average price of C$32.47 and a two-hundred day moving average price of C$30.05. The company has a quick ratio of 1.20, a current ratio of 1.26 and a debt-to-equity ratio of 75.66. The stock has a market capitalization of C$2.17 billion, a P/E ratio of 45.52, a P/E/G ratio of 0.53 and a beta of 0.68.

Bird Construction (TSE:BDT - Get Free Report) last announced its quarterly earnings results on Wednesday, March 11th. The company reported C$0.57 earnings per share (EPS) for the quarter. Bird Construction had a net margin of 1.40% and a return on equity of 10.81%. The company had revenue of C$877.01 million for the quarter. On average, analysts expect that Bird Construction Inc. will post 2.7598533 EPS for the current year.

Bird Construction Company Profile

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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