Black Diamond Group (TSE:BDI) Sets New 12-Month High - Here's What Happened

Key Points

• Black Diamond Group's share price reached a new 52-week high, trading as high as C$14.67 and closing at C$14.60.
• Wall Street analysts have increased their target price for Black Diamond Group to C$17.00, with multiple firms giving the stock a "buy" rating.
• The company announced a quarterly dividend of $0.035, representing an annualized yield of 1.0%, with a payout ratio of 26.47%.

Black Diamond Group Limited (TSE:BDI - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The company traded as high as C$14.67 and last traded at C$14.60, with a volume of 13181 shares traded. The stock had previously closed at C$14.41.

Wall Street Analysts Forecast Growth

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

Black Diamond Group Stock Performance

The firm has a fifty day simple moving average of C$12.54 and a 200 day simple moving average of C$10.61. The company has a current ratio of 1.17, a quick ratio of 1.05 and a debt-to-equity ratio of 88.46. The stock has a market cap of C$953.40 million, a price-to-earnings ratio of 28.37 and a beta of 0.78.

Black Diamond Group Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 1.0%. Black Diamond Group's payout ratio is 26.47%.

Black Diamond Group Company Profile

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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