Black Diamond Group (TSE:BDI) Price Target Raised to C$14.00

Black Diamond Group (TSE:BDI) had its price target hoisted by Raymond James from C$12.00 to C$14.00 in a research note issued to investors on Monday, BayStreet.CA reports. Raymond James currently has a strong-buy rating on the stock.

Several other equities research analysts have also weighed in on the stock. Canaccord Genuity Group dropped their price objective on shares of Black Diamond Group from C$11.00 to C$10.25 and set a buy rating on the stock in a research note on Monday, May 6th. BMO Capital Markets upped their target price on Black Diamond Group from C$11.00 to C$12.00 in a report on Friday, August 2nd.

Black Diamond Group Stock Performance

BDI stock opened at C$10.15 on Monday. The stock’s 50 day simple moving average is C$8.86 and its 200 day simple moving average is C$8.68. Black Diamond Group has a 12-month low of C$5.94 and a 12-month high of C$10.20. The firm has a market cap of C$608.09 million, a P/E ratio of 21.15 and a beta of 1.56. The company has a current ratio of 1.18, a quick ratio of 1.05 and a debt-to-equity ratio of 84.84.

Black Diamond Group (TSE:BDI) last released its earnings results on Thursday, August 1st. The company reported C$0.12 earnings per share for the quarter, beating the consensus estimate of C$0.11 by C$0.01. Black Diamond Group had a net margin of 7.78% and a return on equity of 10.86%. The firm had revenue of C$95.50 million during the quarter, compared to analyst estimates of C$93.70 million. As a group, equities research analysts predict that Black Diamond Group will post 0.4201331 EPS for the current year.

Black Diamond Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.03 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.18%. Black Diamond Group’s dividend payout ratio (DPR) is presently 25.00%.

Insider Activity at Black Diamond Group

In other news, Director Steve Stein sold 4,100 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of C$10.06, for a total transaction of C$41,246.00. In related news, Senior Officer Edward John Redmond sold 80,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of C$9.80, for a total value of C$784,000.00. Also, Director Steve Stein sold 4,100 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of C$10.06, for a total transaction of C$41,246.00. Insiders have sold a total of 115,000 shares of company stock worth $1,134,170 in the last ninety days. 23.96% of the stock is owned by insiders.

About Black Diamond Group

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.