North American Construction Group (NYSE:NOA) Stock Rating Lowered by TD Securities

Key Points

• North American Construction Group was downgraded by TD Securities from a "buy" rating to a "hold" rating, following a trend where several analysts have recently adjusted their ratings on the stock.
• The company reported earnings of $0.24 per share for the last quarter, missing expectations of $0.66, although its revenue was slightly above consensus estimates.
• Institutional investors own approximately 74.99% of North American Construction Group's stock, with notable increases in stakes from various public investment managers recently.

TD Securities downgraded shares of North American Construction Group (NYSE:NOA - Free Report) TSE: NOA from a buy rating to a hold rating in a research note published on Thursday, MarketBeat.com reports.

A number of other equities research analysts have also issued reports on the stock. Wall Street Zen raised shares of North American Construction Group from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st. Canaccord Genuity Group lowered shares of North American Construction Group from a "buy" rating to a "hold" rating in a report on Friday, July 11th. Finally, Raymond James Financial lowered shares of North American Construction Group from a "strong-buy" rating to a "moderate buy" rating in a report on Tuesday, April 22nd. Five investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, North American Construction Group currently has a consensus rating of "Hold".

North American Construction Group Trading Down 4.5%

Shares of North American Construction Group stock traded down $0.58 during trading on Thursday, reaching $12.32. The company's stock had a trading volume of 269,006 shares, compared to its average volume of 130,531. North American Construction Group has a 52-week low of $12.23 and a 52-week high of $22.08. The company has a market cap of $371.78 million, a price-to-earnings ratio of 14.16 and a beta of 1.26. The firm's 50-day moving average is $16.13 and its two-hundred day moving average is $16.48. 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 (NYSE:NOA - Get Free Report) TSE: NOA last announced its quarterly earnings data on Wednesday, August 13th. The oil and gas company reported $0.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.42). North American Construction Group had a net margin of 2.82% and a return on equity of 17.15%. The business had revenue of $235.51 million during the quarter, compared to analysts' expectations of $231.51 million. On average, sell-side analysts anticipate that North American Construction Group will post 2.56 earnings per share for the current year.

North American Construction Group Increases Dividend

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

Institutional Investors Weigh In On North American Construction Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in North American Construction Group during the 2nd quarter valued at about $122,000. Russell Investments Group Ltd. raised its holdings in North American Construction Group by 284.3% in the fourth quarter. Russell Investments Group Ltd. now owns 7,954 shares of the oil and gas company's stock worth $171,000 after buying an additional 5,884 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in North American Construction Group by 16.7% in the second quarter. Public Employees Retirement System of Ohio now owns 10,307 shares of the oil and gas company's stock worth $165,000 after buying an additional 1,474 shares during the last quarter. Quadrature Capital Ltd purchased a new position in North American Construction Group in the second quarter worth about $182,000. Finally, D. E. Shaw & Co. Inc. purchased a new position in North American Construction Group in the fourth quarter worth about $295,000. 74.99% of the stock is owned by hedge funds and other institutional investors.

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.