Bird Construction (TSE:BDT) Hits New 1-Year High Following Dividend Announcement

Bird Construction Inc. (TSE:BDT)’s share price reached a new 52-week high during trading on Tuesday after the company announced a dividend. The company traded as high as C$40.00 and last traded at C$39.15, with a volume of 457062 shares trading hands. The stock had previously closed at C$39.44.

The newly announced dividend which will be paid on Monday, April 20th. Shareholders of record on Monday, April 20th will be issued a dividend of $0.07 per share. This represents a c) annualized dividend and a yield of 2.1%. The ex-dividend date is Tuesday, March 31st. Bird Construction’s payout ratio is 97.67%.

Analyst Ratings Changes

A number of brokerages have commented on BDT. ATB Cormark Capital Markets increased their price objective on shares of Bird Construction from C$35.00 to C$38.00 and gave the company an “outperform” rating in a research report on Friday, March 13th. National Bank Financial boosted their target price on shares of Bird Construction from C$34.00 to C$39.00 and gave the stock an “outperform” rating in a research note on Friday, March 13th. BMO Capital Markets increased their target price on Bird Construction from C$38.00 to C$52.00 and gave the company an “outperform” rating in a report on Thursday, March 26th. Canaccord Genuity Group raised their price target on Bird Construction from C$33.00 to C$37.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Finally, Raymond James Financial raised their price target on Bird Construction from C$34.00 to C$44.00 and gave the company an “outperform” rating in a research note on Friday, March 13th. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Bird Construction has an average rating of “Buy” and a consensus price target of C$41.38.

Bird Construction Price Performance

The company has a market capitalization of C$2.26 billion, a PE ratio of 47.50, a price-to-earnings-growth ratio of 0.53 and a beta of 0.68. The company has a debt-to-equity ratio of 75.66, a current ratio of 1.26 and a quick ratio of 1.20. The company’s 50 day simple moving average is C$32.89 and its 200 day simple moving average is C$30.21.

Bird Construction (TSE:BDT) last issued its quarterly earnings data on Wednesday, March 11th. The company reported C$0.57 earnings per share for the quarter. Bird Construction had a net margin of 1.40% and a return on equity of 10.81%. The business had revenue of C$877.01 million during the quarter. As a group, sell-side analysts predict that Bird Construction Inc. will post 2.7598533 earnings per share for the current year.

Bird Construction Company Profile

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.