North American Construction Group (NYSE:NOA) Releases Quarterly Earnings Results, Misses Expectations By $0.42 EPS

Key Points

• North American Construction Group reported quarterly earnings of $0.24 per share, missing expectations by $0.42, although their revenue of $235.51 million exceeded estimates.
• The company’s stock price fell by $4.06 to $12.71 following the earnings announcement, with analysts downgrading ratings from "buy" to "hold".
• Hedge fund Geode Capital Management increased its stake in North American Construction Group by 51.4%, highlighting institutional interest despite the recent earnings miss.

North American Construction Group (NYSE:NOA - Get Free Report) TSE: NOA posted its quarterly earnings results on Wednesday. The oil and gas company reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.42), reports. North American Construction Group had a net margin of 2.82% and a return on equity of 17.15%. The firm had revenue of $235.51 million for the quarter, compared to analysts' expectations of $231.51 million.

North American Construction Group Stock Performance

NOA traded down $0.58 during trading on Friday, hitting $12.32. The company's stock had a trading volume of 269,006 shares, compared to its average volume of 130,531. The company has a quick ratio of 0.74, a current ratio of 0.94 and a debt-to-equity ratio of 1.57. North American Construction Group has a one year low of $12.23 and a one year high of $22.08. The firm has a market cap of $371.78 million, a PE ratio of 14.16 and a beta of 1.26. The business's 50 day simple moving average is $16.13 and its 200-day simple moving average is $16.48.

North American Construction Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, August 29th will be given a $0.0872 dividend. The ex-dividend date is Friday, August 29th. This is a boost from North American Construction Group's previous quarterly dividend of $0.09. This represents a $0.35 annualized dividend and a yield of 2.8%. North American Construction Group's payout ratio is 39.08%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new position in North American Construction Group in the second quarter worth approximately $122,000. Geode Capital Management LLC raised its position in North American Construction Group by 51.4% in the second quarter. Geode Capital Management LLC now owns 21,511 shares of the oil and gas company's stock worth $344,000 after acquiring an additional 7,300 shares during the period. Jane Street Group LLC bought a new position in North American Construction Group in the first quarter worth approximately $476,000. SkyView Investment Advisors LLC raised its position in North American Construction Group by 3.0% in the second quarter. SkyView Investment Advisors LLC now owns 70,692 shares of the oil and gas company's stock worth $1,139,000 after acquiring an additional 2,040 shares during the period. Finally, Bank of America Corp DE raised its position in North American Construction Group by 80.7% in the second quarter. Bank of America Corp DE now owns 326,266 shares of the oil and gas company's stock worth $5,214,000 after acquiring an additional 145,745 shares during the period. 74.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NOA shares. Raymond James Financial cut shares of North American Construction Group from a "strong-buy" rating to a "moderate buy" rating in a report on Tuesday, April 22nd. Canaccord Genuity Group downgraded 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 upgraded shares of North American Construction Group from a "sell" rating to a "hold" rating in a research report on Wednesday, May 21st. TD Securities downgraded shares of North American Construction Group from a "buy" rating to a "hold" rating in a research report on Thursday. Finally, Atb Cap Markets downgraded shares of North American Construction Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, North American Construction Group has an average rating of "Hold".

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.