North American Construction Group (NYSE:NOA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of North American Construction Group (NYSE:NOA) (TSE:NOA) from a hold rating to a buy rating in a report issued on Saturday morning,Wall Street Zen reports.

A number of other equities analysts also recently issued reports on the company. BMO Capital Markets restated a “market perform” rating on shares of North American Construction Group in a research report on Thursday, August 13th. Zacks Research cut North American Construction Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 15th. Weiss Ratings reissued a “hold (c-)” rating on shares of North American Construction Group in a research report on Friday, September 4th. Finally, Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of North American Construction Group in a report on Thursday, July 9th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $25.75.

North American Construction Group Price Performance

Shares of NYSE:NOA opened at $12.17 on Friday. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.90 and a current ratio of 1.07. North American Construction Group has a 52 week low of $12.07 and a 52 week high of $17.26. The firm has a market cap of $335.78 million, a PE ratio of 15.40 and a beta of 1.07. The firm’s fifty day moving average is $13.52 and its 200-day moving average is $13.77.

North American Construction Group (NYSE:NOA) (TSE:NOA) last announced its earnings results on Wednesday, August 12th. The oil and gas company reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23. The business had revenue of $321.22 million during the quarter, compared to analyst estimates of $246.65 million. North American Construction Group had a return on equity of 6.23% and a net margin of 2.41%. Sell-side analysts predict that North American Construction Group will post 0.9 earnings per share for the current year.

North American Construction Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, August 28th will be given a dividend of C$0.12 per share. The ex-dividend date is Friday, August 28th. This represents a $0.48 annualized dividend and a dividend yield of 3.9%. North American Construction Group’s dividend payout ratio is presently 43.04%.

Institutional Investors Weigh In On North American Construction Group

A number of hedge funds have recently added to or reduced their stakes in NOA. TD Waterhouse Canada Inc. increased its stake in North American Construction Group by 1.1% in the second quarter. TD Waterhouse Canada Inc. now owns 329,224 shares of the oil and gas company’s stock valued at $4,253,000 after purchasing an additional 3,737 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in shares of North American Construction Group in the 2nd quarter valued at about $144,000. Savant Capital LLC bought a new stake in North American Construction Group in the 4th quarter valued at about $215,000. Morgan Dempsey Capital Management LLC bought a new stake in North American Construction Group in the 1st quarter valued at about $257,000. Finally, Cibc World Market Inc. acquired a new position in North American Construction Group during the 2nd quarter worth approximately $278,000. 74.99% of the stock is currently owned by institutional investors.

About North American Construction Group

North American Construction Group Ltd. is a Canadian heavy construction and mining services company headquartered in Acheson, Alberta. The company provides equipment-intensive services to resource and infrastructure customers, with a particular focus on large-scale earthworks and mine development.

Its services include contract mining, mine-site development and reclamation, heavy civil construction, site preparation, road building, overburden removal, materials handling, crushing and aggregate production, and equipment rental and maintenance.