Bird Construction (TSE:BDT) Reaches New 12-Month High - Time to Buy?

Key Points

• Bird Construction shares reached a new 52-week high of C$83.57 and were recently trading at C$83.15, up 2.1%.
• Analysts have broadly upgraded their outlook, with all nine covering analysts rating the stock a Buy; however, the consensus price target of C$75.60 is below the current share price.
• The company reported quarterly revenue of C$1.04 billion and EPS of C$0.70, while declaring a monthly C$0.07-per-share dividend yielding approximately 1.0%.

Bird Construction Inc. (TSE:BDT - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$83.57 and last traded at C$83.15, with a volume of 367332 shares trading hands. The stock had previously closed at C$81.46.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Canadian Imperial Bank of Commerce increased their price objective on shares of Bird Construction from C$71.00 to C$83.00 in a research report on Friday, August 14th. ATB Cormark Capital Markets boosted their target price on Bird Construction from C$57.00 to C$87.00 and gave the company an "outperform" rating in a research report on Friday, August 14th. Stifel Nicolaus upped their price target on Bird Construction from C$85.00 to C$87.00 and gave the stock a "buy" rating in a research note on Friday, August 14th. BMO Capital Markets raised their price target on Bird Construction from C$75.00 to C$85.00 in a research report on Thursday, August 13th. Finally, Canaccord Genuity Group lifted their price objective on Bird Construction from C$62.00 to C$83.00 in a research note on Friday, August 14th. Nine equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of C$75.60.

Bird Construction Trading Up 2.1%

The company's 50 day moving average price is C$70.86 and its 200 day moving average price is C$58.34. The company has a debt-to-equity ratio of 93.81, a current ratio of 1.32 and a quick ratio of 1.20. The firm has a market cap of C$4.61 billion, a PE ratio of 77.71, a price-to-earnings-growth ratio of 0.53 and a beta of 0.48.

Bird Construction (TSE:BDT - Get Free Report) last announced its earnings results on Wednesday, August 12th. The company reported C$0.70 earnings per share for the quarter. The firm 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 forecast that Bird Construction Inc. will post 2.7598533 EPS for the current fiscal year.

Bird Construction Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Tuesday, October 20th will be given 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 dividend yield of 1.0%. Bird Construction's dividend payout ratio is currently 78.50%.

Bird Construction Company Profile

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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