Bird Construction (TSE:BDT) Trading Down 12% - Here's What Happened

Key Points

• Bird Construction's stock fell 12% during mid-day trading, reaching a low of C$25.86 and closing at C$26.46, significantly down from its previous close of C$30.08.
• Several analysts have adjusted their price targets for Bird Construction, with a consensus target price of C$32.44, reflecting mixed sentiment in the market.
• The company declared a monthly dividend of $0.07 per share, offering a yield of 3.3%, with a payout ratio of 50.87%.

Bird Construction Inc. (TSE:BDT - Get Free Report)'s stock price was down 12% on Thursday . The company traded as low as C$25.86 and last traded at C$26.46. Approximately 282,931 shares were traded during trading, an increase of 54% from the average daily volume of 183,544 shares. The stock had previously closed at C$30.08.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BDT shares. Stifel Nicolaus reduced their price objective on shares of Bird Construction from C$37.00 to C$34.00 and set a "buy" rating for the company in a research report on Friday. 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. TD Securities upped their price objective on shares of Bird Construction from C$26.00 to C$31.00 in a report on Thursday, May 22nd. National Bankshares dropped their price objective on shares of Bird Construction from C$28.00 to C$26.00 and set an "outperform" rating for the company in a report on Friday. Finally, BMO Capital Markets increased their target price on shares of Bird Construction from C$28.00 to C$30.00 in a research note on Thursday, May 22nd. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Bird Construction currently has an average rating of "Buy" and an average price target of C$32.19.

Bird Construction Trading Down 3.7%

The company's 50 day moving average price is C$28.61 and its 200 day moving average price is C$24.83. The company has a debt-to-equity ratio of 74.70, a current ratio of 1.25 and a quick ratio of 1.20. The firm has a market cap of C$1.37 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 0.53 and a beta of 1.05.

Bird Construction Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 20th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a c) annualized dividend and a dividend yield of 3.4%. Bird Construction's dividend payout ratio (DPR) is presently 50.87%.

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.