Black Diamond Group (TSE:BDI) Share Price Passes Above 200-Day Moving Average – Here’s Why

Black Diamond Group Limited (TSE:BDI)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$8.85 and traded as high as C$9.16. Black Diamond Group shares last traded at C$9.05, with a volume of 36,360 shares traded.

Analyst Ratings Changes

Several brokerages have issued reports on BDI. Raymond James boosted their target price on shares of Black Diamond Group from C$12.00 to C$14.00 and gave the company a “strong-buy” rating in a research note on Monday, August 26th. BMO Capital Markets upped their price target on Black Diamond Group from C$11.00 to C$12.00 in a research report on Friday, August 2nd.

Black Diamond Group Price Performance

The company’s 50-day simple moving average is C$9.57 and its 200 day simple moving average is C$8.86. The company has a market capitalization of C$536.79 million, a P/E ratio of 18.67 and a beta of 1.54. The company has a quick ratio of 1.05, a current ratio of 1.18 and a debt-to-equity ratio of 84.84.

Black Diamond Group (TSE:BDI) last issued its quarterly earnings data on Thursday, August 1st. The company reported C$0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.11 by C$0.01. The firm had revenue of C$95.50 million during the quarter, compared to analysts’ expectations of C$93.70 million. Black Diamond Group had a net margin of 7.78% and a return on equity of 10.86%. As a group, sell-side analysts expect that Black Diamond Group Limited will post 0.5349233 earnings per share for the current fiscal year.

Black Diamond Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.56%. This is an increase from Black Diamond Group’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, December 31st. Black Diamond Group’s dividend payout ratio (DPR) is presently 25.00%.

Insiders Place Their Bets

In other news, Director Steve Stein sold 4,100 shares of Black Diamond Group stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of C$10.06, for a total value of C$41,246.00. In other Black Diamond Group news, Senior Officer Edward John Redmond sold 80,000 shares of Black Diamond Group stock in a transaction that occurred on Monday, August 26th. The stock was 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 company’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 value of C$41,246.00. Insiders sold 123,000 shares of company stock valued at $1,215,370 over the last 90 days. 23.83% of the stock is currently owned by company insiders.

Black Diamond Group Company Profile

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.