Black Diamond Group (TSE:BDI) Stock Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Black Diamond Group's stock price surpassed its two hundred day moving average, reaching a high of C$14.30 before closing at C$14.10.
• Several analysts have issued target price increases for Black Diamond Group, with estimates now ranging from C$15.00 to C$17.00 and a consensus rating of "Buy."
• The company has also announced a dividend of $0.035 per share, payable on October 15th, yielding approximately 1.0% annually.

Black Diamond Group Limited (TSE:BDI - Get Free Report)'s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$10.36 and traded as high as C$14.30. Black Diamond Group shares last traded at C$14.10, with a volume of 41,939 shares changing hands.

Wall Street Analyst Weigh In

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

Black Diamond Group Trading Down 1.3%

The business's fifty day moving average price is C$12.24 and its 200 day moving average price is C$10.36. 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 firm has a market capitalization of C$929.02 million, a PE ratio of 27.65 and a beta of 0.75.

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 paid 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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