Bird Construction (BDT.TO)

[zylon]

Revenues from Q1 2011 were down from a year ago.

The price drop on Friday (June 3) looks like an opportunity to me; of course it could go lower. The day's volume of 76.5k although slightly above average, does not hint of a wash out.

At Friday's close of $11.24 the monthly dividend (0.055) yields 5.8%

Revenues were $171 million, down from $181 million.

The company said construction revenues declined due to lower construction activity in the Alberta oilsands. It said it also saw lower gross profit margins due to high competition.

Bird Construction converted from an income trust to a corporation in January, which made it subject to different tax rules.
Winnipeg Free Press

Bird's home page

Charts: daily / weekly

Disclosure: I own shares in BDT with average cost just under $12

[al42]

I have had this on my watch list foe a while now. Almost pulled the trigger yesterday @ $11.50 but didn't. When it got below 11.5 I was hoping for 11.00 but never got there. maybe Monday?

Is your average cost of below $12.00,before the 3 for 1 split?

[zylon]

Is your average cost of below $12.00,before the 3 for 1 split?

I wish it was before the split

No, I bought around $36 before the split, and added some yesterday to bring my average down.

These one day hits are becoming more common in many stocks and recoveries don't happen quickly if at all. To me, that's an indicator of more weakness to come this summer. However, it being the 3rd year of the US election cycle, I would be surprised to see the year end lower in US & Cdn indices. I'm buying small amounts of Cdn dividend stocks and precious metals miners.

[al42]

[QUOTE=zylon;67958]I wish it was before the split

No, I bought around $36 before the split, and added some yesterday to bring my average down.

Ah, too bad it would have been a nice profit if you had. But looking back it looks like it only got to the low $14 dollar range back in 08 - 09.

I think it should be OK though, Oil should stay above the 70 - 75 dollar range for the foreseeable future. This would be important for Bird as allot of their business is coming from the oil sands and most of the projects will go ahead with strong oil prices.

[daddybigbucks]

Does Bird have a drip program?

Ive been wanting to get into Bird for a while as well, ill check the financials tonite to see if there are any warning flags.

took a look over the finanicials and they look ok. Im suprised how much cash they have outstanding.

They can pretty much pay off all they debt with their cash.

I think it is a great long term hold at 5%. I might try to take a position as well this week.

[al42]

[QUOTE=daddybigbucks;68201]Does Bird have a drip program?

I don't think so ... I wasn't able to find anything that suggested that they did.

[zylon]

I think al has it right - no drip.

extensive list of DRIPs - perhaps not up to date.

[gibor]

Just wondering if anyone took position in BDT?
Fundamentals are great: P/E, P/S, Payout ratio....

[al42]

Just wondering if anyone took position in BDT?
Fundamentals are great: P/E, P/S, Payout ratio....

Not yet, got scared after seeing what happened to Armtech.
Not the same company but seems to be the same earnings compression.

Highlights
----------
(000's except per share amounts) Three months ended March 31
2011 2010
------------ ------------
Construction Revenue $171,155 $181,626
Income before income taxes 5,792 16,903
------------ ------------
Net income and comprehensive income for the
period $4,109 $13,813
------------ ------------
Basic and diluted earnings per share $0.10 $0.33

Earnings per share amounts reflect the stock split effective in April
2011

- Construction revenue declined by 5.8% to $171.2 million in 2011
compared to 2010, primarily due to lower construction activity in the
Alberta oil sands.
- Income before taxes of $5.8 million was $11.1 million lower in 2011
than 2010, reflecting the impact of lower gross profit margins
resulting from the continuation of a very competitive market
associated with recent economic conditions.
- Net income of $4.1 million in 2011 was $9.7 million lower than 2010,
resulting from lower construction margins and the impact of Bird's
income being fully subject to income tax in 2011.
- Backlog remains robust at $1,071.4 million at March 31, 2011.

[Eder]

There's a lot of risk in construction/engineering stocks compared to other industries. They scare me to death.