North American Construction Group (TSE:NOA) Stock Price Passes Below Two Hundred Day Moving Average - Here's Why

Key Points

• North American Construction Group's stock price dropped below its 200-day moving average, reaching a low of C$20.22, with the last traded price at C$20.61.
• Multiple analysts have adjusted their price targets for the stock, with TD Securities lowering it from C$33.00 to C$27.00, while Canaccord Genuity cut theirs from C$33.00 to C$24.50.
• The company recently announced a quarterly dividend of $0.12 per share, resulting in an annualized yield of 2.3%.

North American Construction Group Ltd. (TSE:NOA - Get Free Report) NYSE: NOA's share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$23.57 and traded as low as C$20.22. North American Construction Group shares last traded at C$20.61, with a volume of 49,265 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NOA. Canaccord Genuity Group downgraded shares of North American Construction Group from a "strong-buy" rating to a "hold" rating and reduced their price target for the company from C$33.00 to C$24.50 in a report on Friday, July 11th. BMO Capital Markets reduced their price target on shares of North American Construction Group from C$34.00 to C$30.00 in a report on Thursday, April 17th. ATB Capital dropped their price objective on shares of North American Construction Group from C$37.00 to C$34.00 and set an "outperform" rating for the company in a research note on Friday, June 27th. CIBC dropped their price objective on shares of North American Construction Group from C$37.00 to C$36.00 in a research note on Thursday, May 22nd. Finally, TD Securities dropped their price objective on shares of North American Construction Group from C$33.00 to C$27.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of C$34.17.

North American Construction Group Stock Up 2.0%

The firm has a market cap of C$601.72 million, a price-to-earnings ratio of 10.57, a PEG ratio of 0.79 and a beta of 1.59. The company has a debt-to-equity ratio of 212.25, a quick ratio of 0.79 and a current ratio of 1.13. The business's 50-day moving average is C$22.45 and its 200-day moving average is C$23.36.

North American Construction Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, July 11th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, June 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.1%. North American Construction Group's dividend payout ratio (DPR) is 18.81%.

Insider Activity

In related news, Director Martin Robert Ferron sold 10,000 shares of the 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 company insiders.

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.