North American Construction Group (NYSE:NOA) Downgraded by Wall Street Zen to “Hold”

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

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

North American Construction Group Stock Down 0.5%

NOA stock opened at $11.82 on Friday. The stock has a market cap of $326.20 million, a P/E ratio of 14.96 and a beta of 1.12. The company has a current ratio of 1.07, a quick ratio of 0.90 and a debt-to-equity ratio of 2.15. North American Construction Group has a twelve month low of $11.72 and a twelve month high of $17.26. The company’s 50 day moving average is $13.22 and its two-hundred day moving average is $13.67.

North American Construction Group (NYSE:NOA) (TSE:NOA) last issued its earnings results on Wednesday, August 12th. The oil and gas company reported $0.23 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.23. North American Construction Group had a net margin of 2.41% and a return on equity of 6.23%. The business had revenue of $321.22 million during the quarter, compared to analysts’ expectations of $246.65 million. Research analysts expect that North American Construction Group will post 0.90 earnings per share for the current fiscal year.

North American Construction Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, August 28th were given a dividend of C$0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Friday, August 28th. North American Construction Group’s dividend payout ratio (DPR) is presently 43.04%.

Institutional Investors Weigh In On North American Construction Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cannell Capital LLC purchased a new position in shares of North American Construction Group during the second quarter worth about $10,423,090. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in North American Construction Group during the 2nd quarter valued at approximately $8,029,000. Bank of America Corp DE acquired a new stake in North American Construction Group during the 2nd quarter worth approximately $3,045,000. Orchard Capital Management LLC acquired a new stake in North American Construction Group during the 2nd quarter worth approximately $3,013,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of North American Construction Group by 65.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 402,413 shares of the oil and gas company’s stock valued at $5,430,000 after purchasing an additional 158,731 shares during the last quarter. 74.99% of the stock is owned by hedge funds and other institutional investors.

North American Construction Group Company Profile

North American Construction Group Ltd. is a Canadian heavy civil construction and mining services company that supports resource development and infrastructure projects. Its operations are concentrated primarily in Western Canada, particularly Alberta’s oil sands region, where it provides services to major mine owners and other industrial customers.

The company’s services include mine development and operations, overburden removal, earthmoving, road construction, site preparation, reclamation and other large-scale civil construction activities.