Bird Construction (TSE:BDT) Trading 10.8% Higher - Here's What Happened

Key Points

• Bird Construction shares jumped 10.8% on Wednesday, trading as high as C$77.25 after closing at C$68.08 the prior day. Trading volume also rose to 357,837 shares, about 33% above average.
• Recent analyst coverage has been bullish, with firms including BMO, TD, Canaccord, Stifel, and CIBC all maintaining or raising targets and ratings. The stock now carries a consensus Buy rating, though the average price target is C$62.60.
• The company also announced a monthly dividend of C$0.07 per share, payable on August 20, with an ex-dividend date of July 31. Bird Construction reported C$0.25 EPS last quarter on revenue of C$783.37 million.

Bird Construction Inc. (TSE:BDT - Get Free Report) rose 10.8% during trading on Wednesday . The company traded as high as C$77.25 and last traded at C$75.43. 357,837 shares changed hands during trading, an increase of 33% from the average daily volume of 268,560 shares. The stock had previously closed at C$68.08.

Analysts Set New Price Targets

BDT has been the topic of a number of recent analyst reports. BMO Capital Markets boosted their price objective on Bird Construction from C$60.00 to C$70.00 and gave the stock an "outperform" rating in a research note on Monday, May 25th. Canaccord Genuity Group increased their price objective on shares of Bird Construction from C$50.00 to C$62.00 and gave the stock a "buy" rating in a report on Friday, May 15th. Stifel Nicolaus set a C$55.00 price objective on shares of Bird Construction and gave the company a "buy" rating in a research report on Friday, April 17th. TD boosted their target price on shares of Bird Construction from C$63.00 to C$72.00 and gave the stock a "buy" rating in a research note on Tuesday, May 19th. Finally, Canadian Imperial Bank of Commerce upped their target price on shares of Bird Construction from C$65.00 to C$71.00 and gave the stock an "outperformer" rating in a research report on Wednesday, July 8th. Nine analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of C$62.60.

Bird Construction Stock Up 13.6%

The company has a 50-day moving average of C$60.32 and a two-hundred day moving average of C$44.11. The company has a market capitalization of C$4.29 billion, a PE ratio of 85.94, a P/E/G ratio of 0.53 and a beta of 0.34. The company has a debt-to-equity ratio of 88.19, a current ratio of 1.24 and a quick ratio of 1.20.

Bird Construction (TSE:BDT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 13th. The company reported C$0.25 EPS for the quarter. Bird Construction had a net margin of 1.43% and a return on equity of 11.25%. The business had revenue of C$783.37 million during the quarter. Sell-side analysts anticipate 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 1.1%. 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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