CIBC Issues Positive Forecast for Bird Construction (TSE:BDT) Stock Price

Bird Construction (TSE:BDT) had its price target boosted by CIBC from C$29.50 to C$34.00 in a report released on Friday,BayStreet.CA reports.

A number of other brokerages have also weighed in on BDT. ATB Capital lifted their target price on Bird Construction from C$33.00 to C$35.00 in a research report on Thursday, October 10th. Stifel Nicolaus upped their price target on shares of Bird Construction from C$37.00 to C$38.00 in a research report on Thursday, November 7th. National Bankshares lifted their price objective on shares of Bird Construction from C$23.00 to C$28.00 in a report on Thursday, October 10th. BMO Capital Markets lifted their price target on Bird Construction from C$30.00 to C$35.00 in a report on Thursday, October 10th. Finally, Raymond James boosted their target price on shares of Bird Construction from C$30.00 to C$35.00 in a report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$33.00.

Bird Construction Price Performance

BDT opened at C$27.55 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.25 and a debt-to-equity ratio of 70.40. The business has a fifty day moving average of C$29.59 and a 200 day moving average of C$26.09. Bird Construction has a 52-week low of C$13.25 and a 52-week high of C$32.67. The stock has a market cap of C$1.53 billion, a P/E ratio of 17.66, a PEG ratio of 0.53 and a beta of 1.05.

Bird Construction (TSE:BDT) last issued its earnings results on Tuesday, November 5th. The company reported C$0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.67 by C$0.02. The firm had revenue of C$898.94 million during the quarter, compared to analyst estimates of C$961.37 million. Bird Construction had a net margin of 2.68% and a return on equity of 26.97%. As a group, sell-side analysts anticipate that Bird Construction will post 2.7598533 EPS for the current year.

Bird Construction Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 20th will be given a $0.07 dividend. This is a positive change from Bird Construction’s previous monthly dividend of $0.05. This represents a $0.84 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Friday, November 29th. Bird Construction’s dividend payout ratio (DPR) is presently 53.85%.

About Bird Construction

Bird Construction Inc provides construction services in Canada. The company primarily focuses on projects in the industrial, and institutional, and infrastructure markets. It constructs large, complex industrial buildings, including manufacturing, processing, distribution, and warehouse facilities; and provides electrical and instrumentation, high voltage testing and commissioning services, as well as power line construction, structural, mechanical, and piping, including off-site metal and modular fabrication.