Short Interest in North American Construction Group Ltd. (NYSE:NOA) Grows By 44.3%

Key Points

• North American Construction Group experienced a 44.3% increase in short interest in August, with total short interest reaching 886,900 shares.
• The company recently declared a quarterly dividend of $0.0872 per share, boosting its annual dividend yield to 2.6%.
• After a recent earnings report, North American Construction Group missed consensus EPS estimates by $0.42, reporting earnings of $0.24 per share.

North American Construction Group Ltd. (NYSE:NOA - Get Free Report) TSE: NOA saw a large increase in short interest in August. As of August 15th, there was short interest totaling 886,900 shares, an increase of 44.3% from the July 31st total of 614,500 shares. Approximately 3.4% of the shares of the stock are sold short. Based on an average daily volume of 101,000 shares, the days-to-cover ratio is currently 8.8 days. Based on an average daily volume of 101,000 shares, the days-to-cover ratio is currently 8.8 days. Approximately 3.4% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

NOA has been the topic of several analyst reports. Atb Cap Markets lowered North American Construction Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 14th. CIBC downgraded shares of North American Construction Group to a "neutral" rating in a research note on Friday, August 15th. Canaccord Genuity Group lowered shares of North American Construction Group from a "buy" rating to a "hold" rating in a research report on Friday, July 11th. Wall Street Zen raised North American Construction Group from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st. Finally, TD Securities downgraded North American Construction Group from a "buy" rating to a "hold" rating in a report on Thursday, August 14th. Five equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce".

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can lifted its stake in North American Construction Group by 4.6% in the second quarter. Bank of Montreal Can now owns 2,244,637 shares of the oil and gas company's stock valued at $35,941,000 after buying an additional 98,646 shares during the period. Claret Asset Management Corp lifted its position in shares of North American Construction Group by 0.7% during the 2nd quarter. Claret Asset Management Corp now owns 2,064,325 shares of the oil and gas company's stock valued at $33,026,000 after acquiring an additional 14,686 shares during the period. Polar Asset Management Partners Inc. lifted its position in shares of North American Construction Group by 70.3% during the 1st quarter. Polar Asset Management Partners Inc. now owns 1,740,985 shares of the oil and gas company's stock valued at $27,577,000 after acquiring an additional 718,884 shares during the period. National Bank of Canada FI raised its holdings in shares of North American Construction Group by 2.6% during 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 purchasing an additional 34,720 shares during the period. Finally, Mackenzie Financial Corp raised its holdings 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 valued at $14,184,000 after purchasing an additional 34,086 shares during the period. Institutional investors and hedge funds own 74.99% of the company's stock.

North American Construction Group Trading Up 1.2%

Shares of NOA stock traded up $0.17 during mid-day trading on Friday, reaching $13.66. 37,634 shares of the stock traded hands, compared to its average volume of 91,246. The stock's fifty day simple moving average is $14.67 and its two-hundred day simple moving average is $15.77. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 1.57. North American Construction Group has a 1-year low of $12.12 and a 1-year high of $22.08. The company has a market cap of $412.17 million, a price-to-earnings ratio of 15.69 and a beta of 1.23.

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

North American Construction Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, August 29th will be paid a $0.0872 dividend. This is an increase from North American Construction Group's previous quarterly dividend of $0.09. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, August 29th. North American Construction Group's payout ratio is presently 40.23%.

North American Construction Group Company Profile

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.