Bird Construction (TSE:BDT) downgraded to “Hold” at TD Securities

TD Securities cuts shares by Bird Building (TSE: BDT – Get Appraisal) from a buy rating to a hold rating in a research note released to investors Monday morning, BayStreet.CA reports. They currently have a target price of CA$8.00 on the stock, down from their previous target price of CA$10.50.

BDT has been the subject of several other reports. Raymond James cut his price target on Bird Construction from C$13.50 to C$12.00 and set an outperform rating for the stock in a Tuesday, July 5 report. Stifel Nicolaus cut his price target on Bird Construction from C$13.75 to C$9.50 in a Monday, July 11 report. Finally, CIBC downgraded Bird Construction from an Outperform rating to a Neutral rating and lowered its price target for the stock from C$12.00 to C$9.00 in a Wednesday, July 13 report. Two investment analysts gave the stock a hold rating and three gave the company a buy rating. According to, the stock currently has a moderate buy consensus rating and a consensus price target of C$10.57.

Bird building stock up 0.3%

Shares of TSE BDT opened at C$7.05 on Monday. The company has a current ratio of 1.22, a quick ratio of 1.20 and a debt ratio of 63.26. The company has a market cap of C$378.55 million and a price-to-earnings ratio of 8.92. Bird Construction has a 12-month low of C$6.85 and a 12-month high of C$10.78. The stock has a 50-day moving average price of C$7.65 and a 200-day moving average price of C$8.53.

Bird Construction (TSE:BDT – Get Rating) last released its results on Tuesday, May 10. The company reported EPS of C$0.12 for the quarter, reaching the consensus estimate of C$0.12. The company posted revenue of C$475.52 million for the quarter, compared to analyst estimates of C$557.34 million. As a group, analysts expect Bird Construction to post 1.07 earnings per share for the current fiscal year.

Bird Construction dividend announcement

The company also recently announced a monthly dividend, which will be paid on Friday, August 19. Investors of record on Friday August 19 will receive a dividend of $0.0325. This represents an annualized dividend of $0.39 and a yield of 5.53%. The ex-dividend date is Thursday July 28. Bird Construction’s payout ratio is currently 28.80%.

About Bird Construction

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Bird Construction Inc operates as a general contractor in Canada. The company primarily focuses on projects in the industrial, commercial and institutional sectors of the general contracting industry. It constructs industrial buildings, including manufacturing, processing, distribution and warehousing facilities; undertakes structural, mechanical, piping, electrical and instrumentation work which includes off-site fabrication of metal and modules; and provides insulation, metal facing and coating, conduit, asbestos removal, and high voltage testing and commissioning services, as well as power line construction.

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