Doman Building Materials Group (TSE:DBM) Shares Break Above Two Hundred Day Moving Average - Here's Why

Key Points

• Doman Building Materials Group shares broke above their 200-day moving average, reaching C$11.14 before closing at C$10.97, compared with the C$10.65 long-term average.
• Analysts remain bullish: five analysts rate the stock a Buy, while National Bank Financial and Raymond James raised their price targets to C$14.00 and C$12.50, respectively. The consensus target is C$12.65.
• The company reported quarterly EPS of C$0.36 on C$904.47 million in revenue and maintains a quarterly dividend of C$0.14 per share, equivalent to a 5.1% annualized yield.

Doman Building Materials Group Ltd. (TSE:DBM - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$10.65 and traded as high as C$11.14. Doman Building Materials Group shares last traded at C$10.97, with a volume of 49,826 shares traded.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. National Bank Financial lifted their price objective on shares of Doman Building Materials Group from C$13.50 to C$14.00 and gave the company an "outperform" rating in a research note on Wednesday, July 22nd. Raymond James Financial increased their target price on shares of Doman Building Materials Group from C$12.00 to C$12.50 and gave the company an "outperform" rating in a research report on Thursday, August 6th. Five analysts have rated the stock with a Buy rating, According to MarketBeat, Doman Building Materials Group has an average rating of "Buy" and a consensus target price of C$12.65.

Doman Building Materials Group Stock Performance

The stock has a market cap of C$964.20 million, a P/E ratio of 11.43 and a beta of 1.62. The company has a fifty day moving average of C$11.13 and a 200 day moving average of C$10.65. The company has a debt-to-equity ratio of 153.48, a current ratio of 3.27 and a quick ratio of 1.11.

Doman Building Materials Group (TSE:DBM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported C$0.36 earnings per share (EPS) for the quarter. Doman Building Materials Group had a return on equity of 12.64% and a net margin of 2.71%.The firm had revenue of C$904.47 million during the quarter. On average, equities analysts predict that Doman Building Materials Group Ltd. will post 0.8051471 earnings per share for the current fiscal 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 paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.56 annualized dividend and a yield of 5.1%. Doman Building Materials Group's dividend payout ratio (DPR) 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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