Bird Construction (TSE:BDT) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Shares of Bird Construction Inc. (TSE:BDT) passed 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 trading hands.

Analysts Set New Price Targets

A number of research firms recently weighed in on BDT. ATB Cormark Capital Markets upped their target price on shares of Bird Construction from C$57.00 to C$87.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. BMO Capital Markets increased their target price on shares of Bird Construction from C$75.00 to C$85.00 in a research note on Thursday, August 13th. National Bank Financial raised their price target on shares of Bird Construction from C$72.00 to C$92.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Stifel Nicolaus boosted their price target 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. Finally, Canadian Imperial Bank of Commerce boosted their price target on shares of Bird Construction from C$71.00 to C$83.00 in a research report on Friday, August 14th. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$75.60.

Bird Construction Price Performance

The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 93.81. The company has a market capitalization of C$4.28 billion, a P/E ratio of 72.12, a P/E/G ratio of 0.53 and a beta of 0.14. The business’s fifty day moving average price is C$74.21 and its 200-day moving average price is C$63.64.

Bird Construction (TSE:BDT) last announced its earnings results on Wednesday, August 12th. The company reported C$0.70 earnings per share (EPS) 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 predict that Bird Construction Inc. will post 2.76 earnings per share for the current fiscal year.

Bird Construction Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 20th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $0.84 annualized dividend and a yield of 1.1%. Bird Construction’s payout ratio is 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.