North American Construction Group (NYSE:NOA) Posts Earnings Results

North American Construction Group (NYSE:NOA) (TSE:NOA) released its quarterly earnings results on Wednesday. The oil and gas company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.12), Zacks reports. North American Construction Group had a net margin of 2.65% and a return on equity of 6.63%.

North American Construction Group Stock Performance

Shares of NOA stock traded down $0.15 during trading hours on Wednesday, reaching $14.40. 103,923 shares of the company traded hands, compared to its average volume of 118,807. The firm has a 50-day moving average price of $14.36 and a 200 day moving average price of $14.67. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.88 and a quick ratio of 0.70. North American Construction Group has a 12-month low of $12.07 and a 12-month high of $18.24. The company has a market cap of $409.11 million, a P/E ratio of 17.99 and a beta of 1.11.

North American Construction Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 9th. Stockholders of record on Thursday, March 26th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Thursday, March 26th. North American Construction Group’s payout ratio is presently 43.75%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NOA. Bank of Montreal Can lifted its holdings in North American Construction Group by 20.5% in the 3rd quarter. Bank of Montreal Can now owns 2,704,392 shares of the oil and gas company’s stock worth $38,409,000 after purchasing an additional 459,755 shares in the last quarter. Millennium Management LLC purchased a new position in North American Construction Group in the 4th quarter worth approximately $4,877,000. Jane Street Group LLC purchased a new position in North American Construction Group in the 4th quarter worth approximately $2,615,000. Bank of America Corp DE lifted its holdings in North American Construction Group by 80.7% in the 2nd quarter. Bank of America Corp DE now owns 326,266 shares of the oil and gas company’s stock worth $5,214,000 after purchasing an additional 145,745 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in North American Construction Group in the 4th quarter worth approximately $1,705,000. 74.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on NOA shares. Wall Street Zen cut North American Construction Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Roth Mkm started coverage on North American Construction Group in a research report on Thursday, February 5th. They set a “buy” rating and a $25.00 price objective on the stock. ATB Cormark Capital Markets cut North American Construction Group from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Canaccord Genuity Group raised North American Construction Group from a “hold” rating to a “buy” rating in a research report on Friday, March 13th. Finally, Zacks Research raised North American Construction Group from a “strong sell” rating to a “hold” rating in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, North American Construction Group currently has an average rating of “Hold” and a consensus price target of $24.50.

About North American Construction Group

North American Construction Group Ltd (NYSE: NOA) is a Canadian industrial company headquartered in Edmonton, Alberta, that specializes in providing integrated heavy construction equipment solutions. Through its two core segments—Sales and Rentals—the company offers a comprehensive portfolio of new and used off-highway trucks, wheel loaders, hydraulic excavators, dozers and motor graders, along with aftermarket parts and maintenance services.

In its Sales division, North American Construction Group partners with leading global equipment manufacturers to distribute and support a broad range of heavy machinery across multiple industries.