Bird Construction (TSE:BDT) Stock Breaks Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Bird Construction shares broke above their 200-day moving average, reaching C$83.10 and last trading at C$82.79, up 2.8%. The stock’s 200-day average is C$63.35.
• Analysts broadly remain bullish: nine analysts rate the stock a Buy, while several raised their price targets, including National Bank Financial to C$92. The consensus target is C$75.60.
• The company reported quarterly EPS of C$0.70 on C$1.04 billion in revenue and declared a monthly dividend of C$0.07 per share, equivalent to an annualized C$0.84 and a 1.0% yield.

Bird Construction Inc. (TSE:BDT - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of C$63.35 and traded as high as C$83.10. Bird Construction shares last traded at C$82.79, with a volume of 458,571 shares.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group boosted their target price on shares of Bird Construction from C$62.00 to C$83.00 in a report on Friday, August 14th. National Bank Financial upped their price target on shares of Bird Construction from C$72.00 to C$92.00 and gave the stock an "outperform" rating in a research report on Friday, August 14th. ATB Cormark Capital Markets increased their price target on shares of Bird Construction from C$57.00 to C$87.00 and gave the company an "outperform" rating in a research note on Friday, August 14th. BMO Capital Markets lifted their price objective on shares of Bird Construction from C$75.00 to C$85.00 in a research report on Thursday, August 13th. Finally, Stifel Nicolaus lifted their price objective on shares of Bird Construction from C$85.00 to C$87.00 and gave the company a "buy" rating in a research report on Friday, August 14th. Nine investment analysts have rated the stock with a Buy rating. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of C$75.60.

Bird Construction Stock Up 2.8%

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 cap of C$4.59 billion, a price-to-earnings ratio of 77.37, a P/E/G ratio of 0.53 and a beta of 0.14. The stock has a fifty day moving average price of C$74.00 and a two-hundred day moving average price of C$63.35.

Bird Construction (TSE:BDT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported C$0.70 earnings per share for the quarter. The company had revenue of C$1.04 billion during the quarter. Bird Construction had a net margin of 1.63% and a return on equity of 13.41%. As a group, sell-side analysts expect that Bird Construction Inc. will post 2.76 EPS for the current year.

Bird Construction Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 20th will be given a dividend of $0.07 per share. This represents a $0.84 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, October 30th. Bird Construction's dividend payout ratio (DPR) is currently 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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