Bird Construction (TSE:BDT) Stock Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• Bird Construction shares rose above their 200-day moving average, reaching C$71.97 and last trading at C$70.82, compared with a 200-day average of C$46.97.
• Analysts remain bullish: nine analysts rate the stock a Buy, with a consensus target price of C$62.60, though the current price is above that average target.
• The company reported quarterly revenue of C$783.37 million and earnings of C$0.25 per share, and announced a monthly dividend of C$0.07, representing a 1.2% yield.

Bird Construction Inc. (TSE:BDT - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$46.97 and traded as high as C$71.97. Bird Construction shares last traded at C$70.82, with a volume of 314,687 shares trading hands.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BDT shares. Stifel Nicolaus set a C$55.00 price target on Bird Construction and gave the company a "buy" rating in a research report on Friday, April 17th. Raymond James Financial increased their price objective on Bird Construction from C$54.00 to C$60.00 and gave the stock an "outperform" rating in a report on Friday, May 15th. Jefferies Financial Group raised their price objective on Bird Construction from C$44.00 to C$63.00 in a research report on Monday, April 27th. Canadian Imperial Bank of Commerce boosted their target price on shares of Bird Construction from C$65.00 to C$71.00 and gave the company an "outperformer" rating in a report on Wednesday, July 8th. Finally, Canaccord Genuity Group upped their target price on shares of Bird Construction from C$50.00 to C$62.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. Nine equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of C$62.60.

Bird Construction Stock Up 0.1%

The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 88.19. The company's fifty day moving average price is C$63.97 and its 200-day moving average price is C$46.97. The stock has a market capitalization of C$3.92 billion, a PE ratio of 78.69, a price-to-earnings-growth ratio of 0.53 and a beta of 0.34.

Bird Construction (TSE:BDT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The company reported C$0.25 earnings per share for the quarter. Bird Construction had a return on equity of 11.25% and a net margin of 1.43%.The company had revenue of C$783.37 million for the quarter. Analysts forecast that Bird Construction Inc. will post 2.7598533 earnings per share for the current year.

Bird Construction Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 20th will be issued a $0.07 dividend. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, July 31st. Bird Construction's payout ratio is 93.33%.

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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