Zacks Investment Research lowered shares of North American Construction Group (NYSE:NOA) (TSE:NOA) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.
According to Zacks, “North American Construction Group Ltd. provides heavy construction and mining services primarily in Canada. It offers services to large oil, natural gas and resource companies. American Construction Group Ltd, formerly known as North American Energy Partners Inc., is based in Alberta, United States. “
NOA has been the topic of several other research reports. ValuEngine raised shares of North American Construction Group from a hold rating to a buy rating in a research note on Saturday, February 2nd. CIBC started coverage on shares of North American Construction Group in a research note on Tuesday, April 16th. They set a sector outperform rating on the stock. Finally, National Bank Financial reissued a buy rating on shares of North American Construction Group in a research note on Tuesday, April 2nd. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $14.00.
NYSE:NOA traded down $0.21 during mid-day trading on Wednesday, hitting $11.73. 167,787 shares of the company’s stock were exchanged, compared to its average volume of 103,752. North American Construction Group has a one year low of $5.35 and a one year high of $13.62. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.84 and a quick ratio of 0.79. The firm has a market capitalization of $318.11 million, a P/E ratio of 27.93 and a beta of 0.48.
North American Construction Group (NYSE:NOA) (TSE:NOA) last posted its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.36 by $0.03. North American Construction Group had a net margin of 2.34% and a return on equity of 12.32%. The business had revenue of $140.21 million for the quarter, compared to analyst estimates of $161.58 million. On average, equities research analysts expect that North American Construction Group will post 1.18 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, May 31st will be paid a dividend of $0.0148 per share. This represents a $0.06 annualized dividend and a yield of 0.51%. The ex-dividend date is Thursday, May 30th. North American Construction Group’s payout ratio is currently 14.29%.
Large investors have recently bought and sold shares of the stock. Whittier Trust Co. bought a new position in shares of North American Construction Group in the fourth quarter worth approximately $27,000. Barclays PLC bought a new position in shares of North American Construction Group in the fourth quarter worth approximately $84,000. Cypress Capital Management LLC WY lifted its stake in shares of North American Construction Group by 3,303.1% in the fourth quarter. Cypress Capital Management LLC WY now owns 11,911 shares of the oil and gas company’s stock worth $106,000 after buying an additional 11,561 shares in the last quarter. Millennium Management LLC bought a new position in shares of North American Construction Group in the fourth quarter worth approximately $111,000. Finally, Jane Street Group LLC bought a new position in shares of North American Construction Group in the third quarter worth approximately $126,000. 54.73% of the stock is currently owned by institutional investors and hedge funds.
North American Construction Group Company Profile
North American Construction Group Ltd. engages in providing mining and heavy construction services. It offers their services to customers in the resource development and industrial construction sectors, primarily within Western Canada. The company focuses on supporting the construction and operation of surface mines, in the oil sands.
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