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

Raymond James lowered shares of Doman Building Materials Group (TSE:DBMGet 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:DBMGet 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

(Get Rating)

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.

Further Reading

Analyst Recommendations for Doman Building Materials Group (TSE:DBM)

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