Bird Construction (TSE:BDT) Shares Up 10.8% – Should You Buy?

Bird Construction Inc. (TSE:BDT)’s share price was up 10.8% during mid-day trading on Wednesday . The stock traded as high as C$77.25 and last traded at C$75.43. 357,837 shares traded hands during trading, an increase of 33% from the average daily volume of 268,560 shares. The stock had previously closed at C$68.08.

Analyst Upgrades and Downgrades

BDT has been the topic of a number of recent research reports. National Bank Financial raised their target price on shares of Bird Construction from C$57.00 to C$72.00 and gave the stock an “outperform” rating in a report on Monday. BMO Capital Markets raised their price objective on Bird Construction from C$60.00 to C$70.00 and gave the stock an “outperform” rating in a research note on Monday, May 25th. Canaccord Genuity Group boosted their target price on Bird Construction from C$50.00 to C$62.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Jefferies Financial Group upped their target price on Bird Construction from C$44.00 to C$63.00 in a report on Monday, April 27th. Finally, Canadian Imperial Bank of Commerce raised their target price on Bird Construction from C$65.00 to C$71.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 8th. Nine research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$62.60.

Bird Construction Trading Up 13.6%

The business has a 50-day moving average of C$60.32 and a 200-day moving average of C$44.11. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 88.19. The stock has a market cap of C$4.29 billion, a price-to-earnings ratio of 85.94, a PEG ratio of 0.53 and a beta of 0.34.

Bird Construction (TSE:BDT) last issued its quarterly earnings data on Wednesday, May 13th. The company reported C$0.25 earnings per share for the quarter. The firm had revenue of C$783.37 million for the quarter. Bird Construction had a net margin of 1.43% and a return on equity of 11.25%. As a group, research analysts forecast that Bird Construction Inc. will post 2.7598533 earnings per share for the current year.

Bird Construction Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 20th will be given a dividend of $0.07 per share. This represents a c) annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, July 31st. Bird Construction’s dividend payout ratio is presently 93.33%.

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.