North American Construction Group (NYSE:NOA) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

North American Construction Group (NYSE:NOA) (TSE:NOA) announced its quarterly earnings data on Wednesday. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01), Zacks reports. North American Construction Group had a net margin of 2.64% and a return on equity of 4.45%.

North American Construction Group Stock Performance

Shares of NYSE NOA traded up $0.01 during trading hours on Wednesday, reaching $15.32. The stock had a trading volume of 115,276 shares, compared to its average volume of 116,274. The firm has a 50-day moving average of $13.63 and a 200-day moving average of $14.41. The firm has a market cap of $427.05 million, a price-to-earnings ratio of 19.39 and a beta of 1.06. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 1.80. North American Construction Group has a fifty-two week low of $12.07 and a fifty-two week high of $17.26.

Institutional Investors Weigh In On North American Construction Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp raised its position in North American Construction Group by 63.0% in the 4th quarter. Mackenzie Financial Corp now owns 25,836 shares of the oil and gas company’s stock valued at $368,000 after purchasing an additional 9,981 shares during the last quarter. Boothbay Fund Management LLC grew its position in North American Construction Group by 24.0% during the 4th quarter. Boothbay Fund Management LLC now owns 20,715 shares of the oil and gas company’s stock worth $298,000 after purchasing an additional 4,006 shares during the last quarter. Lazard Asset Management LLC increased its stake in North American Construction Group by 29.9% in the fourth quarter. Lazard Asset Management LLC now owns 16,170 shares of the oil and gas company’s stock valued at $232,000 after purchasing an additional 3,718 shares during the period. Trexquant Investment LP acquired a new position in North American Construction Group in the fourth quarter valued at $260,000. Finally, Susquehanna International Group LLP purchased a new stake in shares of North American Construction Group in the third quarter valued at about $474,000. Hedge funds and other institutional investors own 74.99% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on NOA shares. Zacks Research cut North American Construction Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of North American Construction Group in a report on Tuesday, June 9th. Roth Capital restated a “buy” rating and set a $27.50 price objective on shares of North American Construction Group in a research report on Friday, May 15th. BMO Capital Markets restated a “market perform” rating on shares of North American Construction Group in a report on Thursday, May 14th. Finally, Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of North American Construction Group in a research report on Thursday, July 9th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, North American Construction Group has a consensus rating of “Hold” and a consensus price target of $25.75.

North American Construction Group Company Profile

North American Construction Group Ltd (NYSE: NOA) is a Canadian industrial company headquartered in Edmonton, Alberta, that specializes in providing integrated heavy construction equipment solutions. Through its two core segments—Sales and Rentals—the company offers a comprehensive portfolio of new and used off-highway trucks, wheel loaders, hydraulic excavators, dozers and motor graders, along with aftermarket parts and maintenance services.

In its Sales division, North American Construction Group partners with leading global equipment manufacturers to distribute and support a broad range of heavy machinery across multiple industries.