North American Construction Group (TSE:NOA) Shares Break Below 200 Day Moving Average - What's Next?

Key Points

• Shares fell below their 200-day moving average, trading as low as C$17.62 versus the C$19.23 average, and last changing hands at C$17.73.
• Analysts remain broadly positive, with a “Moderate Buy” consensus and an average target price of C$22.71, although National Bank Financial lowered its target from C$30 to C$28.
• The company reported C$0.32 in quarterly EPS on C$400.96 million in revenue and declared a quarterly dividend of $0.12 per share, representing a 2.7% yield; insiders also purchased 280,000 shares over the past three months.

North American Construction Group Ltd. (TSE:NOA - Get Free Report) NYSE: NOA shares crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of C$19.23 and traded as low as C$17.62. North American Construction Group shares last traded at C$17.73, with a volume of 75,394 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, National Bank Financial cut their price objective on North American Construction Group from C$30.00 to C$28.00 and set an "outperform" rating on the stock in a research report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$22.71.

North American Construction Group Trading Up 0.3%

The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 246.95. The firm has a market cap of C$477.19 million, a P/E ratio of 15.83, a price-to-earnings-growth ratio of 0.79 and a beta of 0.89. The firm's 50-day simple moving average is C$18.92 and its 200 day simple moving average is C$19.23.

North American Construction Group (TSE:NOA - Get Free Report) NYSE: NOA last released its earnings results on Wednesday, August 12th. The company reported C$0.32 earnings per share for the quarter. The firm had revenue of C$400.96 million during the quarter. North American Construction Group had a net margin of 2.41% and a return on equity of 7.40%. As a group, analysts expect that North American Construction Group Ltd. will post 4.0597484 earnings per share for the current year.

North American Construction Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, October 2nd will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, August 28th. North American Construction Group's dividend payout ratio is 42.86%.

Insiders Place Their Bets

In other news, insider North American Construction Group Ltd. bought 110,000 shares of the stock in a transaction on Wednesday, August 12th. The shares were purchased at an average cost of C$19.01 per share, for a total transaction of C$2,091,100.00. Following the completion of the purchase, the insider directly owned 110,000 shares in the company, valued at C$2,091,100. This represents a ∞ increase in their position. Also, Director Martin Robert Ferron purchased 5,000 shares of the company's stock in a transaction dated Thursday, July 2nd. The shares were purchased at an average cost of C$17.76 per share, for a total transaction of C$88,800.00. Following the transaction, the director directly owned 2,300,738 shares in the company, valued at approximately C$40,861,106.88. The trade was a 0.22% increase in their ownership of the stock. Insiders acquired 280,000 shares of company stock valued at $5,338,000 over the last three months. Company insiders own 8.93% of the company's stock.

North American Construction Group Company Profile

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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