North American Construction Group (NYSE:NOA) Sets New 12-Month Low - Here's What Happened

Key Points

• North American Construction Group's stock reached a new 12-month low at $12.39, closing at $12.90, down from $16.77.
• Multiple brokerages have adjusted their ratings on NOA, with Raymond James downgrading to a "moderate buy" and other firms shifting to "hold" ratings.
• The company recently increased its quarterly dividend to $0.0872 per share, raising its annualized yield to 2.7% from the previous $0.09.

Shares of North American Construction Group Ltd. (NYSE:NOA - Get Free Report) TSE: NOA reached a new 52-week low during mid-day trading on Friday . The company traded as low as $12.39 and last traded at $12.90, with a volume of 997059 shares. The stock had previously closed at $16.77.

Wall Street Analysts Forecast Growth

NOA has been the subject of a number of research reports. Canaccord Genuity Group downgraded shares of North American Construction Group from a "buy" rating to a "hold" rating in a research note on Friday, July 11th. Cibc World Mkts downgraded shares of North American Construction Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. CIBC downgraded shares of North American Construction Group to a "neutral" rating in a research note on Friday, August 15th. 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, August 14th. Finally, Wall Street Zen upgraded shares of North American Construction Group from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of "Hold".

North American Construction Group Trading Up 4.9%

The company has a market cap of $391.59 million, a P/E ratio of 14.91 and a beta of 1.26. The stock's 50-day moving average is $15.81 and its two-hundred day moving average is $16.36. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.94 and a quick ratio of 0.75.

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

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 2.7%. North American Construction Group's payout ratio is 40.23%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can raised its position 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 worth $35,941,000 after acquiring an additional 98,646 shares during the period. Claret Asset Management Corp raised 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 purchasing an additional 14,686 shares during the period. Polar Asset Management Partners Inc. raised 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 purchasing an additional 718,884 shares during the period. National Bank of Canada FI raised its position in shares of North American Construction Group by 2.6% during the 1st 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 position in shares of North American Construction Group by 3.9% during the 1st 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. 74.99% of the stock is currently owned by institutional investors.

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.