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

North American Construction Group (NYSE:NOA) (TSE:NOA) posted 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. North American Construction Group had a return on equity of 17.15% and a net margin of 2.82%.

North American Construction Group Trading Up 1.8%

North American Construction Group stock traded up $0.26 during mid-day trading on Wednesday, reaching $14.43. 128,340 shares of the company traded hands, compared to its average volume of 93,390. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.94 and a quick ratio of 0.75. North American Construction Group has a 52-week low of $12.12 and a 52-week high of $22.08. The firm has a market capitalization of $433.61 million, a price-to-earnings ratio of 16.59 and a beta of 1.29. The firm’s 50 day moving average price is $14.24 and its 200 day moving average price is $15.32.

Institutional Investors Weigh In On North American Construction Group

A number of large investors have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in North American Construction Group in the second quarter worth about $122,000. Geode Capital Management LLC boosted its position in North American Construction Group by 51.4% during 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 acquiring an additional 7,300 shares in the last quarter. Jane Street Group LLC bought a new position in shares of North American Construction Group in the 1st quarter worth approximately $476,000. SkyView Investment Advisors LLC raised its position in shares of North American Construction Group by 3.0% in 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 acquiring an additional 2,040 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of North American Construction Group by 80.7% during the second quarter. Bank of America Corp DE now owns 326,266 shares of the oil and gas company’s stock valued at $5,214,000 after purchasing an additional 145,745 shares in the last quarter. Institutional investors own 74.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NOA shares. Weiss Ratings reissued a “hold (c)” rating on shares of North American Construction Group in a research note on Wednesday, October 8th. TD Securities cut North American Construction Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 14th. Zacks Research raised North American Construction Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Cibc World Mkts cut shares of North American Construction Group from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. Finally, CIBC lowered shares of North American Construction Group to a “neutral” rating in a report on Friday, August 15th. Seven analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock 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.