Zacks: Brokerages Anticipate North American Construction Group Ltd. (NYSE:NOA) Will Post Quarterly Sales of $129.55 Million

Wall Street analysts predict that North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) will post $129.55 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for North American Construction Group’s earnings. The highest sales estimate is $131.60 million and the lowest is $126.40 million. North American Construction Group posted sales of $70.56 million in the same quarter last year, which would indicate a positive year over year growth rate of 83.6%. The firm is scheduled to announce its next earnings report on Wednesday, October 27th.

According to Zacks, analysts expect that North American Construction Group will report full year sales of $524.12 million for the current year, with estimates ranging from $519.20 million to $528.32 million. For the next year, analysts forecast that the company will post sales of $604.46 million, with estimates ranging from $579.03 million to $631.20 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for North American Construction Group.

North American Construction Group (NYSE:NOA) (TSE:NOA) last released its earnings results on Wednesday, July 28th. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. North American Construction Group had a net margin of 7.19% and a return on equity of 18.72%. The business had revenue of $114.10 million during the quarter, compared to analyst estimates of $121.47 million.

A number of equities research analysts have recently issued reports on NOA shares. BMO Capital Markets upped their target price on shares of North American Construction Group from C$21.00 to C$24.00 and gave the stock an “outperform” rating in a report on Tuesday, June 22nd. Zacks Investment Research raised shares of North American Construction Group from a “strong sell” rating to a “hold” rating in a report on Friday, September 10th. ATB Capital reaffirmed a “buy” rating and set a C$26.00 target price on shares of North American Construction Group in a report on Wednesday, June 23rd. TheStreet lowered shares of North American Construction Group from a “b-” rating to a “c+” rating in a report on Monday, July 19th. Finally, Raymond James upped their price objective on shares of North American Construction Group from C$20.00 to C$24.00 and gave the company an “outperform” rating in a report on Tuesday, June 22nd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, North American Construction Group has an average rating of “Buy” and a consensus price target of $21.57.

A number of hedge funds and other institutional investors have recently bought and sold shares of NOA. Acuitas Investments LLC lifted its position in North American Construction Group by 1,308.7% in the second quarter. Acuitas Investments LLC now owns 3,366,104 shares of the oil and gas company’s stock valued at $222,000 after buying an additional 3,127,147 shares during the last quarter. EAM Global Investors LLC acquired a new position in North American Construction Group in the second quarter valued at about $3,779,000. Renaissance Technologies LLC lifted its position in North American Construction Group by 35.6% in the second quarter. Renaissance Technologies LLC now owns 718,700 shares of the oil and gas company’s stock valued at $10,918,000 after buying an additional 188,600 shares during the last quarter. Virtus ETF Advisers LLC acquired a new position in North American Construction Group in the first quarter valued at about $1,570,000. Finally, Goldman Sachs Group Inc. lifted its position in North American Construction Group by 135.9% in the first quarter. Goldman Sachs Group Inc. now owns 249,245 shares of the oil and gas company’s stock valued at $2,679,000 after buying an additional 143,610 shares during the last quarter. 43.98% of the stock is currently owned by institutional investors.

North American Construction Group stock opened at $14.25 on Tuesday. North American Construction Group has a 52-week low of $6.00 and a 52-week high of $17.30. The firm has a market capitalization of $427.53 million, a price-to-earnings ratio of 14.54 and a beta of 1.48. The company has a fifty day simple moving average of $14.24 and a 200-day simple moving average of $13.45. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 1.43.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 8th. Investors of record on Tuesday, August 31st will be issued a $0.0318 dividend. This represents a $0.13 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Monday, August 30th. North American Construction Group’s dividend payout ratio is currently 10.08%.

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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