Raymond James Downgrades Doman Building Materials Group (TSE:DBM) to Market Perform

Raymond James lowered shares of Doman Building Materials Group (TSE:DBM – Get Rating) from an outperform rating to a market perform rating in a report published on Tuesday, BayStreet.CA reports. Raymond James currently has C$7.50 price objective on the stock, down from their prior price objective of C$9.50. Raymond James also issued estimates for Doman Building Materials Group’s Q2 2022 earnings at $0.30 EPS, Q3 2022 earnings at $0.12 EPS, Q4 2022 earnings at $0.16 EPS, FY2022 earnings at $1.07 EPS and FY2023 earnings at $0.73 EPS.

A number of other analysts have also recently issued reports on DBM. Stifel Nicolaus cut Doman Building Materials Group from a buy rating to a hold rating and lowered their target price for the stock from C$9.00 to C$7.00 in a research note on Monday, June 6th. Royal Bank of Canada cut Doman Building Materials Group from an outperform rating to a hold rating and lowered their target price for the stock from C$10.00 to C$7.00 in a research note on Monday, July 18th. Finally, CIBC cut shares of Doman Building Materials Group from an outperform rating to a hold rating and decreased their price target for the stock from C$9.00 to C$7.50 in a research note on Friday, July 8th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Doman Building Materials Group presently has an average rating of Hold and an average target price of C$8.83.

Doman Building Materials Group Price Performance

TSE DBM opened at C$5.95 on Tuesday. The business has a 50 day simple moving average of C$6.47 and a 200 day simple moving average of C$7.32. Doman Building Materials Group has a 52-week low of C$5.83 and a 52-week high of C$8.82. The company has a debt-to-equity ratio of 181.45, a quick ratio of 1.38 and a current ratio of 3.20. The stock has a market cap of C$516.67 million and a price-to-earnings ratio of 4.54.

Doman Building Materials Group (TSE:DBM – Get Rating) last posted its earnings results on Thursday, August 4th. The company reported C$0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.40 by C($0.16). The company had revenue of C$870.72 million during the quarter, compared to analyst estimates of C$866.20 million. Analysts anticipate that Doman Building Materials Group will post 0.67 earnings per share for the current fiscal year.

Doman Building Materials Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Friday, July 15th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 9.41%. The ex-dividend date was Wednesday, June 29th. Doman Building Materials Group’s payout ratio is presently 39.69%.

Insider Activity

In related news, Director Marc Seguin acquired 15,000 shares of the business’s stock in a transaction dated Tuesday, May 24th. The stock was bought at an average price of C$6.69 per share, with a total value of C$100,350.00. Following the acquisition, the director now owns 223,200 shares in the company, valued at approximately C$1,493,208.

Doman Building Materials Group Company Profile

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Doman Building Materials Group Ltd. distributes building materials and related products in Canada, the United States, and Hawai. It distributes a range of building materials, lumber, renovation, and electrical products. The company owns approximately 117,000 acres of private timberlands, and strategic licenses and tenures.