Bird Construction (TSE:BDT) Hits New 1-Year High - Here's Why

Key Points

• Bird Construction shares reached a new 52-week high of C$77.95, up from a previous close of C$75.50, amid strong trading activity.
• Analysts broadly remain bullish: nine analysts rate the stock a Buy, while several raised their price targets, including National Bank Financial’s target of C$92.00.
• The company reported quarterly EPS of C$0.70 on C$1.04 billion in revenue and announced a monthly dividend of C$0.07 per share, yielding approximately 1.1% annually.

Shares of Bird Construction Inc. (TSE:BDT - Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as C$77.95 and last traded at C$77.88, with a volume of 231677 shares trading hands. The stock had previously closed at C$75.50.

Analysts Set New Price Targets

Several research analysts have recently commented on BDT shares. Canadian Imperial Bank of Commerce lifted their target price on Bird Construction from C$71.00 to C$83.00 in a research note on Friday, August 14th. Canaccord Genuity Group lifted their target price on Bird Construction from C$62.00 to C$83.00 in a report on Friday, August 14th. BMO Capital Markets upped their target price on Bird Construction from C$75.00 to C$85.00 in a research report on Thursday, August 13th. National Bank Financial boosted their price target on Bird Construction from C$72.00 to C$92.00 and gave the stock an "outperform" rating in a report on Friday, August 14th. Finally, ATB Cormark Capital Markets boosted their price objective on Bird Construction from C$57.00 to C$87.00 and gave the stock an "outperform" rating in a research report on Friday, August 14th. Nine research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of C$75.60.

Bird Construction Price Performance

The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 93.81. The company has a market capitalization of C$4.32 billion, a P/E ratio of 72.90, a price-to-earnings-growth ratio of 0.53 and a beta of 0.48. The business's 50-day moving average is C$69.88 and its two-hundred day moving average is C$56.99.

Bird Construction (TSE:BDT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported C$0.70 EPS for the quarter. The company had revenue of C$1.04 billion for the quarter. Bird Construction had a net margin of 1.63% and a return on equity of 13.41%. As a group, analysts predict that Bird Construction Inc. will post 2.7598533 earnings per share for the current year.

Bird Construction Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Tuesday, October 20th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a c) dividend on an annualized basis and a yield of 1.1%. Bird Construction's payout ratio is presently 78.50%.

About Bird Construction

Bird Construction Inc operates as a general contractor in the Canadian construction market. The company focuses primarily on projects in the industrial, commercial and institutional sectors of the general contracting industry. It provides construction services such as new construction for industrial, commercial, and institutional markets; industrial maintenance, repair and operations (MRO) services, heavy civil construction and contract surface mining; as well as vertical infrastructure including, electrical, mechanical, and specialty trades.

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