StockNews.com Lowers North American Construction Group (NYSE:NOA) to Hold

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

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

North American Construction Group Stock Up 0.2 %

Shares of NOA opened at $19.53 on Thursday. North American Construction Group has a 52 week low of $18.78 and a 52 week high of $26.30. The company has a quick ratio of 0.81, a current ratio of 1.04 and a debt-to-equity ratio of 1.79. The company has a market capitalization of $522.17 million, a price-to-earnings ratio of 14.80 and a beta of 1.50. The stock’s 50-day moving average price is $19.97 and its 200-day moving average price is $21.74.

North American Construction Group (NYSE:NOA) (TSE:NOA) last issued its earnings results on Thursday, May 2nd. The oil and gas company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). North American Construction Group had a return on equity of 19.48% and a net margin of 5.21%. The company had revenue of $220.33 million during the quarter, compared to analysts’ expectations of $217.28 million. During the same quarter in the previous year, the company earned $0.71 EPS. On average, sell-side analysts predict that North American Construction Group will post 2.95 EPS for the current year.

North American Construction Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, May 31st were given a $0.0726 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.29 annualized dividend and a dividend yield of 1.49%. North American Construction Group’s dividend payout ratio (DPR) is presently 21.97%.

Hedge Funds Weigh In On North American Construction Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of North American Construction Group by 34.3% in 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 purchasing an additional 1,615 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of North American Construction Group by 686.8% in 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 purchasing an additional 15,213 shares during the last quarter. PenderFund Capital Management Ltd. increased its holdings in shares of North American Construction Group by 22.5% in 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 purchasing an additional 4,480 shares during the last quarter. SkyView Investment Advisors LLC acquired a new stake in shares of North American Construction Group in the first quarter valued at approximately $742,000. Finally, Swiss National Bank increased its holdings in shares of North American Construction Group by 4.4% in 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 purchasing 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.