North American Construction Group (NYSE:NOA) Sets New 52-Week Low at $17.74

North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $17.74 and last traded at $19.09, with a volume of 40889 shares changing hands. The stock had previously closed at $19.96.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NOA shares. TD Cowen raised North American Construction Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. StockNews.com downgraded North American Construction Group from a “buy” rating to a “hold” rating in a report on Thursday, July 25th.

North American Construction Group Price Performance

The company’s 50 day moving average is $19.93 and its 200-day moving average is $21.69. The company has a current ratio of 1.04, a quick ratio of 0.81 and a debt-to-equity ratio of 1.79. The firm has a market capitalization of $514.82 million, a price-to-earnings ratio of 14.59 and a beta of 1.50.

North American Construction Group (NYSE:NOA) (TSE:NOA) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates 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 earnings per share. Equities research analysts anticipate that North American Construction Group Ltd. will post 2.95 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. Investors of record on Friday, May 31st were issued a $0.0726 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.29 dividend on an annualized basis and a dividend yield of 1.51%. North American Construction Group’s dividend payout ratio is presently 21.97%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. increased its position in shares of North American Construction Group by 53.6% during the first quarter. Hillsdale Investment Management Inc. now owns 839,759 shares of the oil and gas company’s stock valued at $18,681,000 after buying an additional 293,070 shares during the period. NewGen Asset Management Ltd purchased a new stake in North American Construction Group in the fourth quarter worth approximately $4,170,000. Intact Investment Management Inc. purchased a new position in shares of North American Construction Group in the fourth quarter worth approximately $3,915,000. Cannell Capital LLC increased its position in North American Construction Group by 7.2% in the fourth quarter. Cannell Capital LLC now owns 1,478,914 shares of the oil and gas company’s stock worth $30,835,000 after buying an additional 98,926 shares in the last quarter. Finally, K.J. Harrison & Partners Inc lifted its position in shares of North American Construction Group by 69.7% in the first 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 in 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.