North American Construction Group Ltd. (NYSE:NOA) to Post Q2 2024 Earnings of $0.52 Per Share, National Bank Financial Forecasts

North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) – Equities researchers at National Bank Financial cut their Q2 2024 earnings estimates for North American Construction Group in a research note issued to investors on Monday, July 15th. National Bank Financial analyst M. Sytchev now expects that the oil and gas company will earn $0.52 per share for the quarter, down from their previous estimate of $0.59. The consensus estimate for North American Construction Group’s current full-year earnings is $2.99 per share. National Bank Financial also issued estimates for North American Construction Group’s FY2025 earnings at $2.94 EPS.

North American Construction Group (NYSE:NOA) (TSE:NOA) last posted its quarterly earnings data on Thursday, May 2nd. The oil and gas company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.01). The company had revenue of $220.33 million during the quarter, compared to the consensus estimate of $217.28 million. North American Construction Group had a return on equity of 19.48% and a net margin of 5.21%. During the same quarter last year, the company posted $0.71 earnings per share.

A number of other research firms have also weighed in on NOA. StockNews.com raised North American Construction Group from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. TD Cowen raised 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 Down 0.9 %

Shares of NOA opened at $19.65 on Wednesday. The firm has a market cap of $525.44 million, a P/E ratio of 14.89 and a beta of 1.50. The stock has a 50 day simple moving average of $20.04 and a two-hundred day simple moving average of $21.77. 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 has a 1 year low of $18.30 and a 1 year high of $26.30.

Hedge Funds Weigh In On North American Construction Group

A number of institutional investors have recently added to or reduced their stakes in NOA. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of 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 valued at $133,000 after acquiring an additional 1,615 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of North American Construction Group by 686.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 17,428 shares of the oil and gas company’s stock valued at $387,000 after acquiring an additional 15,213 shares in the last quarter. PenderFund Capital Management Ltd. increased its holdings in shares of North American Construction Group by 22.5% during the fourth quarter. PenderFund Capital Management Ltd. now owns 24,380 shares of the oil and gas company’s stock valued at $508,000 after acquiring an additional 4,480 shares in the last quarter. SkyView Investment Advisors LLC bought a new position in shares of North American Construction Group during the first quarter valued at $742,000. Finally, Swiss National Bank increased 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 in the last quarter. Institutional investors own 74.99% of the company’s stock.

North American Construction Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, May 31st were issued a $0.0726 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.29 dividend on an annualized basis and a yield of 1.48%. North American Construction Group’s dividend payout ratio (DPR) is 21.97%.

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.