North American Construction Group (NYSE:NOA) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of North American Construction Group (NYSE:NOA) (TSE:NOA) from a buy rating to a hold rating in a research report report published on Saturday morning,Wall Street Zen reports.

A number of other analysts have also recently commented on the company. BMO Capital Markets reaffirmed a “market perform” rating on shares of North American Construction Group in a research note on Thursday, August 13th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of North American Construction Group in a report on Thursday, July 9th. Weiss Ratings restated a “hold (c-)” rating on shares of North American Construction Group in a report on Friday, September 4th. Finally, Zacks Research cut shares of North American Construction Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 15th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $25.75.

North American Construction Group Trading Down 0.7%

NOA opened at $11.71 on Friday. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.07 and a quick ratio of 0.90. The company has a market cap of $323.33 million, a price-to-earnings ratio of 14.83 and a beta of 1.12. The firm has a 50 day simple moving average of $13.18 and a 200 day simple moving average of $13.65. North American Construction Group has a fifty-two week low of $11.66 and a fifty-two week high of $17.26.

North American Construction Group (NYSE:NOA) (TSE:NOA) last announced its quarterly earnings data on Wednesday, August 12th. The oil and gas company reported $0.23 earnings per share for the quarter, meeting the consensus estimate of $0.23. The business had revenue of $321.22 million for the quarter, compared to analyst estimates of $246.65 million. North American Construction Group had a net margin of 2.41% and a return on equity of 6.23%. On average, sell-side analysts anticipate that North American Construction Group will post 0.90 earnings per share for the current year.

North American Construction Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, August 28th were paid a dividend of C$0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Friday, August 28th. North American Construction Group’s dividend payout ratio (DPR) is currently 43.04%.

Institutional Trading of North American Construction Group

Several hedge funds and other institutional investors have recently modified their holdings of NOA. Orchard Capital Management LLC bought a new stake in North American Construction Group in the 2nd quarter valued at $3,013,000. Arrowstreet Capital Limited Partnership increased its position in North American Construction Group by 65.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 402,413 shares of the oil and gas company’s stock worth $5,430,000 after buying an additional 158,731 shares during the period. Bank of America Corp DE bought a new position in North American Construction Group during the 2nd quarter worth $3,045,000. Cannell Capital LLC bought a new position in North American Construction Group during the 2nd quarter worth $10,423,090. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of North American Construction Group during the second quarter worth $8,029,000. Institutional investors own 74.99% of the company’s stock.

North American Construction Group Company Profile

North American Construction Group Ltd. is a Canadian heavy civil construction and mining services company that supports resource development and infrastructure projects. Its operations are concentrated primarily in Western Canada, particularly Alberta’s oil sands region, where it provides services to major mine owners and other industrial customers.

The company’s services include mine development and operations, overburden removal, earthmoving, road construction, site preparation, reclamation and other large-scale civil construction activities.