Bird Construction (TSE:BDT) Trading Down 12% - What's Next?

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) shares were down 12% during mid-day trading on Thursday . The stock traded as low as C$25.86 and last traded at C$26.46. Approximately 282,931 shares changed hands during mid-day 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 research analysts have recently weighed in on the stock. National Bankshares lowered 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. TD Securities cut their price target on shares of Bird Construction from C$34.00 to C$31.00 and set a "buy" rating for the company in a research report on Monday. CIBC decreased their price objective on Bird Construction from C$35.00 to C$33.00 in a report on Monday. Stifel Nicolaus dropped their target price on Bird Construction from C$37.00 to C$34.00 and set a "buy" rating for the company in a report on Friday. Finally, Raymond James Financial cut Bird Construction from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of C$32.38.

Bird Construction Trading Down 2.3%

The stock has a fifty day moving average of C$28.45 and a 200 day moving average of C$24.82. The company has a market capitalization of C$1.30 billion, a P/E ratio of 14.12, a PEG ratio of 0.53 and a beta of 1.05. The company has a debt-to-equity ratio of 74.70, a quick ratio of 1.20 and a current ratio of 1.25.

Bird Construction Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Wednesday, August 20th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a c) dividend on an annualized basis and a yield of 3.6%. Bird Construction's dividend payout ratio (DPR) is currently 50.87%.

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.