North American Construction Group Ltd. (NYSE:NOA) Receives Average Rating of "Hold" from Brokerages

Key Points

• Analysts maintain a “Hold” consensus on North American Construction Group, with one sell, four hold and two buy ratings. The average 12-month price target is $25.75.
• Institutional investors own approximately 74.99% of the company, with several firms increasing their stakes or initiating new positions.
• NOA opened at $12.52, near its 12-month low, while its latest quarterly results met EPS expectations and exceeded revenue estimates. The company also declared a quarterly dividend of C$0.12, representing an annualized yield of about 3.8%.

North American Construction Group Ltd. (NYSE:NOA - Get Free Report) TSE: NOA has been assigned a consensus rating of "Hold" from the seven brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $25.75.

A number of research analysts have recently commented on the company. Canadian Imperial Bank of Commerce reaffirmed a "neutral" rating on shares of North American Construction Group in a research note on Thursday, July 9th. Weiss Ratings reissued a "hold (c-)" rating on shares of North American Construction Group in a research note on Friday, September 4th. BMO Capital Markets restated a "market perform" rating on shares of North American Construction Group in a report on Thursday, August 13th. Finally, Zacks Research downgraded North American Construction Group from a "hold" rating to a "strong sell" rating in a research report on Tuesday, September 15th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NOA. CIBC Asset Management Inc lifted its holdings in shares of North American Construction Group by 22.3% in the 4th quarter. CIBC Asset Management Inc now owns 1,442,155 shares of the oil and gas company's stock worth $20,812,000 after buying an additional 262,673 shares during the period. Aegis Financial Corp increased its stake in shares of North American Construction Group by 23.3% during the fourth quarter. Aegis Financial Corp now owns 1,038,177 shares of the oil and gas company's stock valued at $14,967,000 after buying an additional 196,243 shares during the period. Cannell Capital LLC bought a new stake in shares of North American Construction Group in the second quarter valued at about $10,423,090. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of North American Construction Group in the second quarter valued at about $8,029,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in North American Construction Group by 65.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 402,413 shares of the oil and gas company's stock worth $5,430,000 after acquiring an additional 158,731 shares during the period. 74.99% of the stock is currently owned by hedge funds and other institutional investors.

North American Construction Group Price Performance

North American Construction Group stock opened at $12.52 on Friday. North American Construction Group has a 12-month low of $12.07 and a 12-month high of $17.26. The company has a current ratio of 1.07, a quick ratio of 0.90 and a debt-to-equity ratio of 2.15. The firm has a 50-day moving average price of $13.56 and a 200-day moving average price of $13.83. The firm has a market capitalization of $345.58 million, a PE ratio of 15.85 and a beta of 1.07.

North American Construction Group (NYSE:NOA - Get Free Report) TSE: NOA last issued its quarterly earnings results on Wednesday, August 12th. The oil and gas company reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23. The company had revenue of $321.22 million for the quarter, compared to the consensus estimate of $246.65 million. North American Construction Group had a net margin of 2.41% and a return on equity of 6.23%. As a group, equities research analysts forecast that North American Construction Group will post 0.9 EPS for the current year.

North American Construction Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, August 28th will be issued a C$0.12 dividend. The ex-dividend date is Friday, August 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.8%. North American Construction Group's payout ratio is presently 43.04%.

About North American Construction Group

North American Construction Group Ltd. is a Canadian heavy construction and mining services company headquartered in Acheson, Alberta. The company provides equipment-intensive services to resource and infrastructure customers, with a particular focus on large-scale earthworks and mine development.

Its services include contract mining, mine-site development and reclamation, heavy civil construction, site preparation, road building, overburden removal, materials handling, crushing and aggregate production, and equipment rental and maintenance.

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