StockNews.com Upgrades North American Construction Group (NYSE:NOA) to Buy

StockNews.com upgraded shares of North American Construction Group (NYSE:NOA) (TSE:NOA) from a hold rating to a buy rating in a report issued on Thursday.

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

North American Construction Group Stock Up 1.4 %

NYSE:NOA opened at $19.35 on Thursday. The firm has a market capitalization of $517.42 million, a P/E ratio of 14.66 and a beta of 1.50. The company’s fifty day moving average price is $20.11 and its 200-day moving average price is $21.82. North American Construction Group has a 1-year low of $18.30 and a 1-year high of $26.30. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.04 and a quick ratio of 0.81.

North American Construction Group (NYSE:NOA) (TSE:NOA) last released its quarterly earnings data 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 company had revenue of $220.33 million for the quarter, compared to analysts’ expectations of $217.28 million. North American Construction Group had a net margin of 5.21% and a return on equity of 19.48%. During the same quarter in the previous year, the business posted $0.71 EPS. As a group, equities research analysts anticipate that North American Construction Group will post 2.99 EPS for the current year.

North American Construction Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, May 31st were given a $0.0726 dividend. This represents a $0.29 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Friday, May 31st. North American Construction Group’s dividend payout ratio (DPR) is presently 21.97%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in North American Construction Group by 34.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,326 shares of the oil and gas company’s stock worth $133,000 after acquiring an additional 1,615 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in North American Construction Group by 686.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 17,428 shares of the oil and gas company’s stock valued at $387,000 after buying an additional 15,213 shares in the last quarter. PenderFund Capital Management Ltd. lifted its stake in North American Construction Group by 22.5% in the 4th quarter. PenderFund Capital Management Ltd. now owns 24,380 shares of the oil and gas company’s stock valued at $508,000 after buying an additional 4,480 shares in the last quarter. SkyView Investment Advisors LLC purchased a new stake in North American Construction Group during the 1st quarter worth approximately $742,000. Finally, Swiss National Bank raised its holdings in shares of North American Construction Group by 4.4% during the first quarter. Swiss National Bank now owns 49,900 shares of the oil and gas company’s stock valued at $1,109,000 after acquiring an additional 2,100 shares during the last quarter. Hedge funds and other institutional investors 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.