Bird Construction (TSE:BDT) Stock Price Breaks Above 50 Day Moving Average - What's Next?

Key Points

• Bird Construction shares rose above their 50-day moving average of C$75.93, reaching C$77.04 and last trading at C$76.89.
• Analyst sentiment is broadly positive: eight analysts rate the stock Buy and one Hold, for a “Moderate Buy” consensus. The average price target is C$76, though several recent targets were raised to C$85–C$87.
• The company reported quarterly EPS of C$1.13 on C$1.30 billion in revenue and announced a monthly dividend of C$0.07 per share, equivalent to a 1.1% annualized yield.

Bird Construction Inc. (TSE:BDT - Get Free Report) shares passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of C$75.93 and traded as high as C$77.04. Bird Construction shares last traded at C$76.89, with a volume of 482,600 shares traded.

Analyst Upgrades and Downgrades

BDT has been the subject of several analyst reports. ATB Cormark Capital Markets raised their target price 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. Canadian Imperial Bank of Commerce upped their price target on Bird Construction from C$83.00 to C$87.00 in a research report on Thursday, October 29th. BMO Capital Markets increased their price objective on Bird Construction from C$75.00 to C$85.00 in a research note on Thursday, August 13th. Stifel Nicolaus lifted their price objective on Bird Construction from C$85.00 to C$87.00 and gave the company a "buy" rating in a report on Friday, August 14th. Finally, Canaccord Genuity Group cut Bird Construction from a "buy" rating to a "hold" rating and set a C$83.00 price objective for the company. in a report on Thursday, October 15th. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Bird Construction currently has an average rating of "Moderate Buy" and a consensus price target of C$76.00.

Bird Construction Price Performance

The stock has a market capitalization of C$4.26 billion, a P/E ratio of 71.86, a PEG ratio of 0.53 and a beta of -0.01. The company's 50 day simple moving average is C$75.93 and its two-hundred day simple moving average is C$57.96. The company has a debt-to-equity ratio of 93.81, a current ratio of 1.32 and a quick ratio of 1.20.

Bird Construction (TSE:BDT - Get Free Report) last posted its earnings results on Wednesday, November 11th. The company reported C$1.13 earnings per share (EPS) for the quarter. The company had revenue of C$1.30 billion during the quarter. Bird Construction had a net margin of 1.63% and a return on equity of 13.41%. As a group, equities analysts expect that Bird Construction Inc. will post 2.76 EPS for the current fiscal year.

Bird Construction Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 20th will be given a $0.07 dividend. The ex-dividend date is Friday, October 30th. This represents a $0.84 annualized dividend 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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