North American Construction Group (TSE:NOA) Stock Price Down 20% - What's Next?

Key Points

• North American Construction Group Ltd. shares fell by 20% during mid-day trading, dropping from a previous close of C$22.99 to as low as C$18.27.
• Equities analysts have significantly reduced their price targets for the stock, with BMO Capital Markets lowering their objective from C$34.00 to C$30.00 and Canaccord Genuity downgrading it from a "strong-buy" to a "hold" rating.
• The company recently paid a quarterly dividend of $0.12, reflecting an annualized yield of 2.7% and a payout ratio of 18.81%.

North American Construction Group Ltd. (TSE:NOA - Get Free Report) NYSE: NOA's stock price traded down 20% during trading on Thursday . The company traded as low as C$18.27 and last traded at C$18.40. 205,417 shares were traded during trading, an increase of 152% from the average session volume of 81,641 shares. The stock had previously closed at C$22.99.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. National Bankshares cut their price target on shares of North American Construction Group from C$40.00 to C$28.00 and set an "outperform" rating on the stock in a report on Friday. Canaccord Genuity Group downgraded shares of North American Construction Group from a "strong-buy" rating to a "hold" rating and lowered their price objective for the company from C$33.00 to C$24.50 in a research report on Friday, July 11th. TD Securities downgraded shares of North American Construction Group from a "buy" rating to a "hold" rating and lowered their price objective for the company from C$25.00 to C$21.00 in a research report on Thursday. Raymond James Financial downgraded shares of North American Construction Group from a "strong-buy" rating to an "outperform" rating and set a C$40.00 price objective on the stock. in a research report on Tuesday, April 22nd. Finally, ATB Capital decreased their price target on shares of North American Construction Group from C$37.00 to C$34.00 and set an "outperform" rating on the stock in a research report on Friday, June 27th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of C$32.06.

North American Construction Group Stock Down 4.4%

The company has a market capitalization of C$455.31 million, a PE ratio of 8.00, a PEG ratio of 0.79 and a beta of 1.59. The company's 50 day moving average is C$22.11 and its two-hundred day moving average is C$23.02. The company has a quick ratio of 0.79, a current ratio of 1.13 and a debt-to-equity ratio of 212.25.

North American Construction Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, July 11th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Wednesday, June 4th. North American Construction Group's dividend payout ratio (DPR) is 18.81%.

Insiders Place Their Bets

In related news, Director Martin Robert Ferron sold 10,000 shares of North American Construction Group stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of C$24.74, for a total transaction of C$247,400.00. 8.93% of the stock is owned by insiders.

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.