North American Construction Group (NYSE:NOA) Downgraded by StockNews.com

StockNews.com cut shares of North American Construction Group (NYSE:NOA) (TSE:NOA) from a buy rating to a hold rating in a research note issued to investors on Friday.

Separately, TD Cowen upgraded North American Construction Group from a hold rating to a buy rating in a research note on Thursday, April 18th.

North American Construction Group Price Performance

Shares of NYSE NOA opened at $20.47 on Friday. The business’s 50 day moving average price is $22.81 and its two-hundred day moving average price is $21.88. The company has a market cap of $547.31 million, a PE ratio of 15.51 and a beta of 1.52. The company has a quick ratio of 0.81, a current ratio of 1.04 and a debt-to-equity ratio of 1.79. North American Construction Group has a twelve month low of $18.02 and a twelve month high of $26.30.

North American Construction Group (NYSE:NOA) (TSE:NOA) last announced its earnings results on Thursday, May 2nd. The oil and gas company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The firm had revenue of $220.33 million for the quarter, compared to the consensus estimate of $217.28 million. North American Construction Group had a return on equity of 19.48% and a net margin of 5.21%. During the same quarter last year, the business posted $0.71 EPS. On average, analysts predict that North American Construction Group will post 2.84 EPS for the current year.

North American Construction Group Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, May 31st will be issued a $0.0726 dividend. This represents a $0.29 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, May 31st. North American Construction Group’s dividend payout ratio is presently 21.97%.

Institutional Investors Weigh In On North American Construction Group

A number of large investors have recently modified their holdings of NOA. Shell Asset Management Co. boosted its holdings in shares of North American Construction Group by 142.3% during the 3rd quarter. Shell Asset Management Co. now owns 1,929 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 1,133 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of North American Construction Group by 34.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,326 shares of the oil and gas company’s stock valued at $133,000 after acquiring an additional 1,615 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of North American Construction Group by 80.1% during the 3rd quarter. New York State Common Retirement Fund now owns 8,947 shares of the oil and gas company’s stock valued at $194,000 after acquiring an additional 3,980 shares in the last quarter. Tacita Capital Inc acquired a new stake in shares of North American Construction Group during the 3rd quarter valued at $484,000. Finally, TD Asset Management Inc acquired a new stake in shares of North American Construction Group during the 3rd quarter valued at $499,000. Institutional investors and hedge funds own 74.99% of the company’s stock.

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.