North American Construction Group (NYSE:NOA) Shares Cross Above Fifty Day Moving Average - Here's What Happened

Key Points

• North American Construction Group shares crossed above their 50-day moving average, reaching $12.68 before closing at $12.6550. The stock remains below its 200-day average of $14.00.
• Analyst sentiment is mixed but leans toward caution: three analysts rate the stock Buy and four rate it Hold, producing a consensus rating of “Hold” and an average price target of $25.75.
• The company reported quarterly EPS of $0.23, in line with estimates, while revenue of $321.22 million exceeded the $246.65 million consensus. It also pays a C$0.12 quarterly dividend, equivalent to a 3.8% annualized yield.

North American Construction Group Ltd. (NYSE:NOA - Get Free Report) TSE: NOA's share price passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $12.56 and traded as high as $12.68. North American Construction Group shares last traded at $12.6550, with a volume of 82,442 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a "hold (c-)" rating on shares of North American Construction Group in a research note on Friday, September 4th. BMO Capital Markets reissued a "market perform" rating on shares of North American Construction Group in a research report on Thursday, August 13th. Canadian Imperial Bank of Commerce reissued a "neutral" rating on shares of North American Construction Group in a research report on Thursday, July 9th. Wall Street Zen cut shares of North American Construction Group from a "buy" rating to a "hold" rating in a report on Saturday, October 10th. Finally, ATB Cormark Capital Markets raised North American Construction Group from a "hold" rating to a "moderate buy" rating in a research report on Monday. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $25.75.

North American Construction Group Price Performance

The stock's 50-day moving average is $12.56 and its 200-day moving average is $14.00. The firm has a market cap of $349.28 million, a P/E ratio of 16.02 and a beta of 1.12. The company has a quick ratio of 0.90, a current ratio of 1.07 and a debt-to-equity ratio of 2.15.

North American Construction Group (NYSE:NOA - Get Free Report) TSE: NOA last issued its quarterly earnings results on Wednesday, August 12th. The oil and gas company reported $0.23 earnings per share for the quarter, meeting analysts' consensus estimates of $0.23. The firm had revenue of $321.22 million during the quarter, compared to the consensus estimate of $246.65 million. North American Construction Group had a net margin of 2.41% and a return on equity of 6.23%. As a group, equities analysts anticipate that North American Construction Group Ltd. will post 0.90 EPS for the current fiscal year.

North American Construction Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, August 28th were paid a C$0.12 dividend. The ex-dividend date of this dividend was Friday, August 28th. This represents a $0.48 dividend on an annualized basis and a yield of 3.8%. North American Construction Group's payout ratio is presently 43.04%.

Institutional Investors Weigh In On North American Construction Group

Several large investors have recently modified their holdings of the stock. WINTON GROUP Ltd acquired a new stake in shares of North American Construction Group during the second quarter worth approximately $144,000. Morgan Dempsey Capital Management LLC bought a new position in shares of North American Construction Group in the first quarter valued at approximately $257,000. Cibc World Market Inc. acquired a new position in shares of North American Construction Group in the 2nd quarter worth approximately $278,000. Sanctuary Advisors LLC acquired a new position in shares of North American Construction Group in the 1st quarter worth approximately $612,000. Finally, OneDigital Investment Advisors LLC bought a new stake in North American Construction Group during the 2nd quarter worth approximately $725,000. 74.99% of the stock is currently owned by institutional investors.

About North American Construction Group

North American Construction Group Inc is a Canadian heavy civil construction and contract mining company serving the resource and infrastructure sectors. The company provides large-scale earthmoving, site development, mine-support and construction services for customers primarily in western Canada.

Its services include contract mining, overburden removal, mine development, heavy civil construction, roadbuilding, reclamation and site preparation. North American Construction Group also provides equipment maintenance, repair and rebuild services, and operates a large fleet of heavy construction and mining equipment to support its projects.

Founded in 1953, the company has developed long-standing expertise in the Canadian oil sands and other resource projects.

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