Doman Building Materials Group (TSE:DBM) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Doman Building Materials Group shares crossed above their 200-day moving average, reaching C$11.30 and closing at C$11.11, compared with a 200-day average of C$10.52.
• Analysts remain bullish, with five Buy ratings and a consensus price target of C$12.65; several firms recently raised their targets to between C$12.25 and C$14.00.
• The company reported quarterly EPS of C$0.36 on C$904.47 million in revenue and pays a quarterly dividend of C$0.14, equivalent to an annualized yield of about 5.0%.

Doman Building Materials Group Ltd. (TSE:DBM - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$10.52 and traded as high as C$11.30. Doman Building Materials Group shares last traded at C$11.11, with a volume of 90,833 shares traded.

Analysts Set New Price Targets

DBM has been the subject of several research analyst reports. National Bank Financial raised their target price on shares of Doman Building Materials Group from C$13.50 to C$14.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 22nd. Stifel Nicolaus boosted their price target on shares of Doman Building Materials Group from C$12.00 to C$12.25 and gave the company a "buy" rating in a research report on Tuesday, May 12th. Desjardins increased their price target on shares of Doman Building Materials Group from C$12.00 to C$12.50 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. Finally, Raymond James Financial increased their price target on shares of Doman Building Materials Group from C$12.00 to C$12.50 and gave the stock an "outperform" rating in a research note on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of C$12.65.

Doman Building Materials Group Stock Down 1.9%

The company has a quick ratio of 1.11, a current ratio of 3.27 and a debt-to-equity ratio of 153.48. The company has a market capitalization of C$976.50 million, a P/E ratio of 11.57 and a beta of 1.51. The company has a 50-day moving average of C$11.36 and a two-hundred day moving average of C$10.52.

Doman Building Materials Group (TSE:DBM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported C$0.36 earnings per share for the quarter. The company had revenue of C$904.47 million for the quarter. Doman Building Materials Group had a return on equity of 12.64% and a net margin of 2.71%. On average, research analysts predict that Doman Building Materials Group Ltd. will post 0.8051471 EPS for the current year.

Doman Building Materials Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 15th were given a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.0%. Doman Building Materials Group's dividend payout ratio is currently 58.33%.

Doman Building Materials Group Company Profile

Doman Building Materials Group Ltd is a wholesale distributor of building materials and home renovation products. The company services the new home construction, home renovation and industrial markets by supplying the retail and wholesale lumber and building materials industry, hardware stores, industrial and furniture manufacturers and similar concerns. Its operations also include timber ownership and management of private timberlands and forest licenses, and agricultural post-peeling and pressure treating through CanWel Fibre Corp.

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