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

North American Construction Group (NYSE:NOA) (TSE:NOA) announced its quarterly earnings results on Wednesday. The oil and gas company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.01), Zacks reports. The company had revenue of $280.90 million for the quarter, compared to analyst estimates of $231.58 million. North American Construction Group had a return on equity of 17.15% and a net margin of 2.82%.

North American Construction Group Stock Performance

Shares of NYSE:NOA traded down $0.39 during trading on Thursday, hitting $14.06. 51,747 shares of the company traded hands, compared to its average volume of 93,181. The stock has a market capitalization of $422.37 million, a price-to-earnings ratio of 16.24 and a beta of 1.29. The business’s fifty day moving average is $14.26 and its 200-day moving average is $15.32. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 1.57. North American Construction Group has a one year low of $12.12 and a one year high of $22.08.

North American Construction Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, November 26th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, November 26th. This is an increase from North American Construction Group’s previous quarterly dividend of $0.09. This represents a $0.48 dividend on an annualized basis and a yield of 3.4%. North American Construction Group’s payout ratio is presently 39.08%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can boosted its position in shares of North American Construction Group by 20.5% in the third quarter. Bank of Montreal Can now owns 2,704,392 shares of the oil and gas company’s stock worth $38,409,000 after buying an additional 459,755 shares during the period. Bank of America Corp DE increased its stake in shares of North American Construction Group by 80.7% in the second quarter. Bank of America Corp DE now owns 326,266 shares of the oil and gas company’s stock worth $5,214,000 after purchasing an additional 145,745 shares during the period. SkyView Investment Advisors LLC increased its holdings in shares of North American Construction Group by 3.0% during the 2nd quarter. SkyView Investment Advisors LLC now owns 70,692 shares of the oil and gas company’s stock worth $1,139,000 after purchasing an additional 2,040 shares during the period. Jane Street Group LLC acquired a new position in North American Construction Group in the 1st quarter valued at approximately $476,000. Finally, Geode Capital Management LLC increased its holdings in North American Construction Group by 51.4% in the 2nd quarter. Geode Capital Management LLC now owns 21,511 shares of the oil and gas company’s stock valued at $344,000 after buying an additional 7,300 shares during the period. 74.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. TD Securities downgraded shares of North American Construction Group from a “buy” rating to a “hold” rating in a report on Thursday, August 14th. Atb Cap Markets lowered North American Construction Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 14th. Cibc World Mkts downgraded North American Construction Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of North American Construction Group in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded shares of North American Construction Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. Seven equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, North American Construction Group presently has a consensus rating of “Hold”.

About North American Construction Group

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.