BMO Capital Markets Cuts Black Diamond Group (TSE:BDI) Price Target to C$11.00

Black Diamond Group (TSE:BDI) had its price target reduced by BMO Capital Markets from C$12.00 to C$11.00 in a research note issued to investors on Tuesday, BayStreet.CA reports.

Several other brokerages have also recently commented on BDI. Acumen Capital lifted their price objective on shares of Black Diamond Group from C$12.00 to C$12.50 and gave the company a buy rating in a research note on Monday, March 4th. Canaccord Genuity Group lifted their price objective on shares of Black Diamond Group from C$9.50 to C$11.00 and gave the company a buy rating in a research note on Monday, March 4th.

Black Diamond Group Price Performance

BDI stock opened at C$8.69 on Tuesday. The firm has a 50 day moving average of C$8.94 and a 200 day moving average of C$8.36. The stock has a market capitalization of C$523.22 million, a PE ratio of 17.73 and a beta of 1.73. The company has a quick ratio of 1.05, a current ratio of 1.10 and a debt-to-equity ratio of 72.03. Black Diamond Group has a 52 week low of C$5.35 and a 52 week high of C$9.92.

Black Diamond Group (TSE:BDI) last released its earnings results on Thursday, February 29th. The company reported C$0.13 EPS for the quarter, topping analysts’ consensus estimates of C$0.10 by C$0.03. The company had revenue of C$103.40 million during the quarter, compared to analysts’ expectations of C$89.70 million. Black Diamond Group had a net margin of 7.72% and a return on equity of 11.11%. Sell-side analysts forecast that Black Diamond Group will post 0.4599247 earnings per share for the current year.

Black Diamond Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Sunday, March 31st were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Wednesday, March 27th. Black Diamond Group’s payout ratio is 24.49%.

Insider Transactions at Black Diamond Group

In other news, Director Trevor Haynes sold 10,000 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of C$8.75, for a total transaction of C$87,520.00. In other Black Diamond Group news, Senior Officer Tobias Gerald Labrie sold 5,000 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of C$9.05, for a total value of C$45,250.00. Also, Director Trevor Haynes sold 10,000 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of C$8.75, for a total transaction of C$87,520.00. Insiders sold 53,850 shares of company stock valued at $479,979 over the last 90 days. 24.18% of the stock is currently owned by corporate insiders.

Black Diamond Group Company Profile

Black Diamond Group Limited rents and sells modular space and workforce accommodation solutions. It operates through two segments, Modular Space Solutions and Workforce Solutions. The Modular Space Solutions segment provides modular space rentals to customers in the construction, real estate development, education, manufacturing, health care, financial, government, and defense industries in North America.