TD Securities Remains a Hold on Bird Construction

By Carrie Williams

The Materials sector company, Bird Construction (TSX: BDT), has received a rating update from a Wall Street analyst on May 15. TD Securities’ analyst Michael Tupholme reiterates their Hold rating on the shares, with a C$10 price target.

Tupholme observed:

“We have lowered our EBITDA forecast for 2017, reflecting primarily a decline in our margin expectations.”

According to TipRanks.com, Tupholme is ranked #3211 out of 4566 analysts.

Currently, the analyst consensus on Bird Construction is Hold and the average price target is C$9.83, representing a 9.3% upside.

In a report issued on May 15, Scotiabank also maintained a Hold rating on the stock with a C$10 price target.

Based on Bird Construction’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of C$431 million and quarterly net profit of C$5.8 million. In comparison, last year the company earned revenue of C$338 million and had a net profit of C$9.34 million.

Bird Construction, Inc. operates as an investment holding company with interest in construction services. The company through its subsidiaries carries on business as a general contractor with offices in St. John’s, Wabush, Halifax, Saint John, Montreal, Toronto, Winnipeg, Calgary, Edmonton and Vancouver. It focuses primarily on projects in the industrial, mining, commercial and institutional sectors of the general contracting industry. The company serves clients in the industrial, mining, institutional, retail, commercial, multi-tenant residential, light industrial, and renovation and restoration sectors using fixed priced, design-build, unit price, cost reimbursable, guaranteed upset price and construction management contract delivery methods. Bird Construction was founded in March 5, 2010 and is headquartered in Mississauga, Canada.

The company’s shares closed last Tuesday at $8.99.