North American Construction Group (TSE:NOA) Share Price Breaks Below 200 Day Moving Average - Here's Why

Key Points

• North American Construction Group shares fell below their 200-day moving average, declining to as low as C$16.52 versus the C$19.01 average, and last traded at C$16.81.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of C$22.71, though National Bank Financial reduced its target from C$30 to C$28.
• The company reported quarterly EPS of C$0.32 on C$400.96 million in revenue and pays an annualized dividend of C$0.48 per share, yielding about 2.9%.

North American Construction Group Ltd. (TSE:NOA - Get Free Report) NYSE: NOA shares passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$19.01 and traded as low as C$16.52. North American Construction Group shares last traded at C$16.81, with a volume of 161,755 shares traded.

Analyst Upgrades and Downgrades

Separately, National Bank Financial dropped their price objective on shares of North American Construction Group from C$30.00 to C$28.00 and set an "outperform" rating for the company in a research note on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of C$22.71.

North American Construction Group Trading Down 0.8%

The company has a 50-day moving average price of C$18.40 and a two-hundred day moving average price of C$19.01. The stock has a market cap of C$452.42 million, a P/E ratio of 15.01, a P/E/G ratio of 0.79 and a beta of 0.83. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 246.95.

North American Construction Group (TSE:NOA - Get Free Report) NYSE: NOA last issued its quarterly earnings results on Wednesday, August 12th. The company reported C$0.32 earnings per share (EPS) for the quarter. The company had revenue of C$400.96 million during the quarter. North American Construction Group had a return on equity of 7.40% and a net margin of 2.41%. On average, research analysts expect that North American Construction Group Ltd. will post 4.06 EPS for the current fiscal year.

North American Construction Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, October 2nd were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.9%. North American Construction Group's payout ratio is currently 42.86%.

Insiders Place Their Bets

In other North American Construction Group news, insider North American Construction Group Ltd. bought 110,000 shares of the company's stock in a transaction on Wednesday, August 12th. The stock was acquired at an average price of C$19.01 per share, for a total transaction of C$2,091,100.00. Following the completion of the transaction, the insider directly owned 110,000 shares of the company's stock, valued at approximately C$2,091,100. This represents a ∞ increase in their ownership of the stock. 8.93% of the stock is owned by company insiders.

About North American Construction Group

North American Construction Group Ltd. is a premier provider of heavy civil construction and mining services in Australia, Canada, and the U.S. For over 70 years, NACG has provided services to the mining, resource and infrastructure construction markets.

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