Bird Construction (TSE:BDT) Stock Passes Above 200 Day Moving Average - What's Next?

Key Points

• Bird Construction shares moved above their 200-day moving average, reaching C$71.45 before closing at C$70.08, compared with the 200-day average of C$48.81.
• Analysts remain bullish: nine research firms rate the stock Buy, with a consensus price target of C$62.60. Several analysts recently raised their targets, including National Bank Financial to C$72.00.
• The company reported quarterly revenue of C$783.37 million and earnings of C$0.25 per share, while declaring a monthly dividend of C$0.07 per share, representing a 1.2% yield.

Shares of Bird Construction Inc. (TSE:BDT - Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$48.81 and traded as high as C$71.45. Bird Construction shares last traded at C$70.08, with a volume of 206,191 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BDT shares. Raymond James Financial boosted their price objective on shares of Bird Construction from C$54.00 to C$60.00 and gave the company an "outperform" rating in a research report on Friday, May 15th. National Bank Financial raised their target price on shares of Bird Construction from C$57.00 to C$72.00 and gave the stock an "outperform" rating in a research report on Monday, July 13th. Canaccord Genuity Group lifted their price target on shares of 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. ATB Cormark Capital Markets boosted their price target on Bird Construction from C$48.00 to C$57.00 and gave the company an "outperform" rating in a report on Friday, May 15th. Finally, Stifel Nicolaus set a C$55.00 price objective on Bird Construction and gave the stock a "buy" rating in a research note on Friday, April 17th. Nine equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of C$62.60.

Bird Construction Stock Performance

The company has a debt-to-equity ratio of 88.19, a quick ratio of 1.20 and a current ratio of 1.24. The stock has a market cap of C$3.88 billion, a PE ratio of 77.87, a price-to-earnings-growth ratio of 0.53 and a beta of 0.34. The firm has a fifty day moving average price of C$65.19 and a 200 day moving average price of C$48.81.

Bird Construction (TSE:BDT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 13th. The company reported C$0.25 earnings per share for the quarter. The business 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%. Research analysts forecast that Bird Construction Inc. will post 2.7598533 earnings per share for the current fiscal year.

Bird Construction Dividend Announcement

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

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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