Bird Construction (TSE:BDT) Shares Cross Above 200-Day Moving Average - Here's Why

Key Points

• Bird Construction's stock price has climbed above its 200-day moving average, reaching as high as C$30.39 before settling at C$30.30 during trading.
• A recent wave of analyst upgrades has shifted Bird Construction's ratings, with National Bank Financial moving it to a "strong-buy" and various firms adjusting target prices higher, now averaging C$33.50.
• The company has announced a monthly dividend of C$0.07 per share, which will contribute to an annualized yield of 2.8%, with the ex-dividend date set for October 31st.

Bird Construction Inc. (TSE:BDT - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$25.77 and traded as high as C$30.39. Bird Construction shares last traded at C$30.30, with a volume of 174,330 shares trading hands.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. National Bank Financial upgraded shares of Bird Construction from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 3rd. ATB Capital upped their target price on shares of Bird Construction from C$30.00 to C$33.00 and gave the company an "outperform" rating in a report on Friday, September 5th. National Bankshares upped their target price on shares of Bird Construction from C$28.00 to C$34.00 and gave the company an "outperform" rating in a report on Wednesday, September 24th. Stifel Nicolaus upped their target price on shares of Bird Construction from C$34.00 to C$36.00 and gave the company a "buy" rating in a report on Friday, September 5th. Finally, Raymond James Financial lowered shares of Bird Construction from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of C$33.50.

Bird Construction Stock Performance

The stock's 50-day moving average is C$27.03 and its 200-day moving average is C$25.77. The stock has a market cap of C$1.68 billion, a price-to-earnings ratio of 16.83, a P/E/G ratio of 0.53 and a beta of 0.62. The company has a current ratio of 1.25, a quick ratio of 1.20 and a debt-to-equity ratio of 74.70.

Bird Construction Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, November 20th will be given a dividend of $0.07 per share. This represents a c) dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Friday, October 31st. Bird Construction's dividend payout ratio is 41.49%.

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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