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

Key Points

• North American Construction Group Ltd. has received a consensus rating of “Moderate Buy” from four research firms, with ratings ranging from hold to strong buy.
• The company reported $0.24 earnings per share for the last quarter, falling short of analysts' estimates of $0.66, despite revenue of $235.51 million, which exceeded expectations.
• Significant institutional investment activity has been noted, with 74.99% of the stock currently owned by institutional investors, indicating strong interest in the company.

Shares of North American Construction Group Ltd. (NYSE:NOA - Get Free Report) TSE: NOA have received an average rating of "Hold" from the five research firms that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.

Several equities research analysts have recently commented on NOA shares. Atb Cap Markets downgraded shares of North American Construction Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday. CIBC downgraded shares of North American Construction Group to a "neutral" rating in a research note on Friday. Wall Street Zen upgraded shares of North American Construction Group from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. TD Securities cut shares of North American Construction Group from a "buy" rating to a "hold" rating in a report on Thursday. Finally, Canaccord Genuity Group cut shares of North American Construction Group from a "buy" rating to a "hold" rating in a report on Friday, July 11th.

North American Construction Group Stock Down 4.5%

NOA traded down $0.58 during trading on Thursday, hitting $12.32. The stock had a trading volume of 269,006 shares, compared to its average volume of 130,531. The company has a market capitalization of $371.78 million, a PE ratio of 14.16 and a beta of 1.26. North American Construction Group has a twelve month low of $12.23 and a twelve month high of $22.08. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.74 and a current ratio of 0.94. The stock has a 50 day simple moving average of $16.13 and a two-hundred day simple moving average of $16.48.

North American Construction Group (NYSE:NOA - Get Free Report) TSE: NOA last announced its earnings results on Wednesday, August 13th. The oil and gas company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.42). The firm had revenue of $235.51 million during the quarter, compared to analyst estimates of $231.51 million. North American Construction Group had a net margin of 2.82% and a return on equity of 17.15%. On average, research analysts predict that North American Construction Group will post 2.56 earnings per share for the current year.

North American Construction Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, August 29th will be issued a $0.0872 dividend. The ex-dividend date of this dividend is Friday, August 29th. This is a positive change from North American Construction Group's previous quarterly dividend of $0.09. This represents a $0.35 dividend on an annualized basis and a yield of 2.8%. North American Construction Group's dividend payout ratio is presently 39.08%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. National Bank of Canada FI increased its holdings in North American Construction Group by 2.6% in the first quarter. National Bank of Canada FI now owns 1,368,520 shares of the oil and gas company's stock valued at $21,560,000 after buying an additional 34,720 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of North American Construction Group by 3.9% during the first quarter. Mackenzie Financial Corp now owns 899,609 shares of the oil and gas company's stock worth $14,184,000 after purchasing an additional 34,086 shares in the last quarter. Millennium Management LLC increased its stake in shares of North American Construction Group by 75.3% during the fourth quarter. Millennium Management LLC now owns 60,274 shares of the oil and gas company's stock worth $1,303,000 after purchasing an additional 25,889 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in shares of North American Construction Group during the fourth quarter worth about $295,000. Finally, NewGen Asset Management Ltd purchased a new stake in shares of North American Construction Group during the first quarter worth about $2,368,000. Hedge funds and other institutional investors own 74.99% of the company's stock.

About North American Construction Group

North American Construction Group Ltd. provides mining and heavy civil construction services to customers in the resource development and industrial construction sectors in Australia, Canada, and the United States. The company operates Heavy Equipment - Canada, Heavy Equipment - Australia, and Other segments.