North American Construction Group (NYSE:NOA) Announces Earnings Results, Misses Estimates By $0.66 EPS

Key Points

• Earnings miss: NOA reported EPS of ($0.16) versus a $0.50 consensus (a $0.66 miss), although revenue beat at $250.51M versus $222.43M expected.
• The stock plunged about 24.6% (down $4.12 to $12.63) on the news, trading above average volume and leaving a market cap near $363M.
• North American Construction Group declared a quarterly dividend of $0.12 (annualized $0.48, ~3.8% yield) and carries a consensus analyst rating of "Hold" with an average target of $24.50.

North American Construction Group (NYSE:NOA - Get Free Report) TSE: NOA issued its quarterly earnings data on Wednesday. The oil and gas company reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.50 by ($0.66), Zacks reports. The company had revenue of $250.51 million during the quarter, compared to analysts' expectations of $222.43 million. North American Construction Group had a return on equity of 13.29% and a net margin of 3.02%.

North American Construction Group Stock Down 24.6%

NYSE NOA traded down $4.12 during mid-day trading on Thursday, reaching $12.63. The stock had a trading volume of 122,594 shares, compared to its average volume of 98,969. The stock has a market cap of $363.23 million, a PE ratio of 13.40 and a beta of 1.09. North American Construction Group has a 1 year low of $12.12 and a 1 year high of $18.24. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.91 and a quick ratio of 0.73. The company has a fifty day moving average price of $15.78 and a 200 day moving average price of $14.66.

North American Construction Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Thursday, March 26th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Thursday, March 26th. North American Construction Group's payout ratio is presently 36.17%.

Institutional Trading of North American Construction Group

A number of institutional investors and hedge funds have recently modified their holdings of NOA. Raymond James Financial Inc. bought a new position in shares of North American Construction Group during the second quarter valued at $122,000. Qube Research & Technologies Ltd bought a new stake in North American Construction Group in the 3rd quarter worth about $153,000. Dynamic Technology Lab Private Ltd bought a new stake in North American Construction Group in the 4th quarter worth about $165,000. Lazard Asset Management LLC raised its position in North American Construction Group by 1,424.1% in the 3rd quarter. Lazard Asset Management LLC now owns 12,452 shares of the oil and gas company's stock worth $177,000 after buying an additional 11,635 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new position in North American Construction Group in the 4th quarter worth about $190,000. Institutional investors own 74.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NOA. Roth Mkm initiated coverage on North American Construction Group in a report on Thursday, February 5th. They set a "buy" rating and a $25.00 target price on the stock. Loop Capital set a $24.00 price target on North American Construction Group in a research report on Friday, December 19th. Zacks Research cut North American Construction Group from a "hold" rating to a "strong sell" rating in a research note on Monday, February 2nd. Wall Street Zen upgraded North American Construction Group from a "hold" rating to a "buy" rating in a report on Saturday, January 24th. Finally, ATB Cormark Capital Markets reissued a "sector perform" rating on shares of North American Construction Group in a research report on Friday, December 19th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, North American Construction Group currently has a consensus rating of "Hold" and an average target price of $24.50.

North American Construction Group Company Profile

North American Construction Group Ltd NYSE: NOA is a Canadian industrial company headquartered in Edmonton, Alberta, that specializes in providing integrated heavy construction equipment solutions. Through its two core segments—Sales and Rentals—the company offers a comprehensive portfolio of new and used off-highway trucks, wheel loaders, hydraulic excavators, dozers and motor graders, along with aftermarket parts and maintenance services.

In its Sales division, North American Construction Group partners with leading global equipment manufacturers to distribute and support a broad range of heavy machinery across multiple industries.

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