North American Construction Group (NYSE:NOA) Upgraded at StockNews.com

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

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

North American Construction Group Stock Performance

NYSE:NOA opened at $19.35 on Thursday. The company has a market capitalization of $517.42 million, a PE ratio of 14.66 and a beta of 1.50. The company has a 50 day simple moving average of $20.11 and a two-hundred day simple moving average of $21.81. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.81 and a current ratio of 1.04. North American Construction Group has a fifty-two week low of $18.30 and a fifty-two week high of $26.30.

North American Construction Group (NYSE:NOA) (TSE:NOA) last announced its quarterly earnings data on Thursday, May 2nd. The oil and gas company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.01). The company had revenue of $220.33 million for the quarter, compared to analyst estimates 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 period last year, the business earned $0.71 EPS. Research analysts anticipate that North American Construction Group will post 2.99 earnings per share for the current year.

North American Construction Group Cuts Dividend

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

Institutional Investors Weigh In On North American Construction Group

Several large investors have recently made changes to their positions in NOA. Hillsdale Investment Management Inc. increased its position in shares of North American Construction Group by 53.6% during the 1st quarter. Hillsdale Investment Management Inc. now owns 839,759 shares of the oil and gas company’s stock valued at $18,681,000 after purchasing an additional 293,070 shares during the last quarter. NewGen Asset Management Ltd purchased a new stake in shares of North American Construction Group during the 4th quarter valued at $4,170,000. Intact Investment Management Inc. purchased a new stake in North American Construction Group in the 4th quarter worth about $3,915,000. Cannell Capital LLC raised its stake in North American Construction Group by 7.2% in the 4th quarter. Cannell Capital LLC now owns 1,478,914 shares of the oil and gas company’s stock valued at $30,835,000 after acquiring an additional 98,926 shares during the period. Finally, K.J. Harrison & Partners Inc raised its stake in North American Construction Group by 69.7% in the 1st quarter. K.J. Harrison & Partners Inc now owns 214,700 shares of the oil and gas company’s stock valued at $4,773,000 after acquiring an additional 88,200 shares during the period. 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. 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.