Doman Building Materials Group (TSE:DBM) Share Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• Doman Building Materials Group shares crossed above their 200-day moving average, reaching C$10.81 and last trading at C$10.70, compared with the C$10.56 long-term average.
• Analysts remain bullish: five analysts rate the stock a Buy, with a consensus price target of C$12.65. Recent target increases ranged from C$12.25 to C$14.00.
• The company reported quarterly revenue of C$904.47 million and EPS of C$0.36, while maintaining a quarterly dividend of C$0.14, equivalent to a 5.2% annualized yield.

Doman Building Materials Group Ltd. (TSE:DBM - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$10.56 and traded as high as C$10.81. Doman Building Materials Group shares last traded at C$10.70, with a volume of 70,074 shares changing hands.

Analysts Set New Price Targets

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

Doman Building Materials Group Stock Down 0.6%

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$940.47 million, a PE ratio of 11.15 and a beta of 1.51. The company's 50 day moving average is C$11.35 and its two-hundred day moving average is C$10.56.

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

Doman Building Materials Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 15th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date was Tuesday, June 30th. Doman Building Materials Group's payout ratio is currently 58.33%.

About Doman Building Materials Group

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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