Black Diamond Group (TSE:BDI) Shares Up 9.2% Following Dividend Announcement

Black Diamond Group Limited (TSE:BDI)’s share price shot up 9.2% during mid-day trading on Friday after the company announced a dividend. The stock traded as high as C$7.06 and last traded at C$7.02. 98,859 shares were traded during trading, an increase of 18% from the average session volume of 83,648 shares. The stock had previously closed at C$6.43.

The newly announced dividend which will be paid on Monday, January 15th. Stockholders of record on Sunday, December 31st will be given a $0.03 dividend. This is an increase from Black Diamond Group’s previous quarterly dividend of $0.02. This represents a $0.12 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Thursday, December 28th. Black Diamond Group’s dividend payout ratio (DPR) is currently 17.39%.

Analysts Set New Price Targets

Separately, BMO Capital Markets raised their price target on Black Diamond Group from C$8.50 to C$10.00 in a research report on Friday.

Black Diamond Group Trading Up 8.9 %

The company has a market capitalization of C$421.54 million, a price-to-earnings ratio of 15.22 and a beta of 1.44. The company has a 50-day moving average price of C$6.56 and a 200-day moving average price of C$6.35. The company has a quick ratio of 1.05, a current ratio of 1.28 and a debt-to-equity ratio of 87.18.

Black Diamond Group (TSE:BDI) last released its earnings results on Thursday, August 3rd. The company reported C$0.08 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.09 by C($0.01). Black Diamond Group had a return on equity of 10.96% and a net margin of 7.66%. The firm had revenue of C$91.10 million for the quarter, compared to analyst estimates of C$84.30 million. Research analysts predict that Black Diamond Group Limited will post 0.4604478 EPS for the current fiscal year.

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.