Black Diamond Group (TSE:BDI) Hits New 52-Week High - Still a Buy?

Key Points

• Black Diamond Group's stock price recently hit a new 52-week high, reaching C$14.58, with analysts providing a positive outlook and raising target prices to C$17.00.
• The company announced a quarterly dividend of $0.035 per share, reflecting an annualized dividend of $0.14 and a yield of 1.0% for shareholders of record on September 30th.
• With a market capitalization of C$958.67 million, Black Diamond Group has received a consensus "Buy" rating based on its strong performance and analyst evaluations.

Black Diamond Group Limited (TSE:BDI - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$14.58 and last traded at C$14.55, with a volume of 99000 shares. The stock had previously closed at C$14.22.

Wall Street Analyst Weigh In

BDI has been the subject of several analyst reports. Acumen Capital boosted their target price on shares of Black Diamond Group from C$14.50 to C$17.00 and gave the company a "buy" rating in a research note on Tuesday, September 23rd. BMO Capital Markets increased their price target on shares of Black Diamond Group from C$15.00 to C$17.00 in a research report on Tuesday, September 23rd. Finally, Canaccord Genuity Group raised their target price on shares of Black Diamond Group from C$13.50 to C$17.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of C$17.00.

Black Diamond Group Price Performance

The stock has a market capitalization of C$958.67 million, a price-to-earnings ratio of 28.53 and a beta of 0.78. The company has a 50-day simple moving average of C$12.32 and a two-hundred day simple moving average of C$10.45. The company has a debt-to-equity ratio of 88.46, a current ratio of 1.17 and a quick ratio of 1.05.

Black Diamond Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 1.0%. Black Diamond Group's dividend payout ratio is currently 26.47%.

About Black Diamond Group

Black Diamond Group Ltd rents and sells space rental solutions and modular workforce accommodations to business customers in Canada, the United States and Australia. The company also provides specialized field rentals to the oil and gas industries of Canada and the United States. Besides, Black Diamond Group provides turnkey lodging services, as well as a host of related services that include transportation, installation, dismantling, repairs, maintenance, and ancillary field equipment rentals.

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