Black Diamond Group (TSE:BDI) Shares Cross Above 200 Day Moving Average - What's Next?

Key Points

• Black Diamond Group shares have crossed above their 200-day moving average, trading as high as C$14.72, while the stock is currently priced at C$14.41.
• Multiple analysts have raised their price targets for Black Diamond Group, with the average consensus target now at C$17.00 and a unanimous "Buy" rating from research firms.
• The company declared a quarterly dividend of $0.035 per share, representing a 1.0% dividend yield and a payout ratio of 26.47%.

Black Diamond Group Limited (TSE:BDI - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$10.61 and traded as high as C$14.72. Black Diamond Group shares last traded at C$14.41, with a volume of 77,087 shares changing hands.

Analyst Ratings Changes

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

Black Diamond Group Stock Down 1.1%

The firm has a 50 day simple moving average of C$12.54 and a two-hundred day simple moving average of C$10.61. The company has a quick ratio of 1.05, a current ratio of 1.17 and a debt-to-equity ratio of 88.46. The stock has a market capitalization of C$949.45 million, a P/E ratio of 28.25 and a beta of 0.78.

Black Diamond Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend 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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