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

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

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

North American Construction Group Price Performance

NYSE NOA traded down $0.16 during midday trading on Friday, hitting $20.47. The company had a trading volume of 50,825 shares, compared to its average volume of 70,086. The company has a market capitalization of $547.37 million, a PE ratio of 15.51 and a beta of 1.52. North American Construction Group has a twelve month low of $18.02 and a twelve month high of $26.30. The company has a current ratio of 1.04, a quick ratio of 0.71 and a debt-to-equity ratio of 1.79. The firm has a 50-day moving average price of $22.81 and a 200-day moving average price of $21.88.

North American Construction Group (NYSE:NOA) (TSE:NOA) last posted its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported $0.50 EPS 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 period last year, the firm earned $0.71 EPS. As a group, analysts anticipate that North American Construction Group will post 2.84 earnings per share for the current fiscal year.

North American Construction Group Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, May 31st will be given a $0.0726 dividend. This represents a $0.29 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Friday, May 31st. North American Construction Group’s dividend payout ratio is presently 21.97%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. SkyView Investment Advisors LLC grew its holdings in shares of North American Construction Group by 2.6% during the 3rd quarter. SkyView Investment Advisors LLC now owns 29,961 shares of the oil and gas company’s stock valued at $651,000 after purchasing an additional 771 shares during the last quarter. Shell Asset Management Co. grew its stake in shares of North American Construction Group by 142.3% during the third quarter. Shell Asset Management Co. now owns 1,929 shares of the oil and gas company’s stock worth $42,000 after buying an additional 1,133 shares during the last quarter. 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 worth $133,000 after buying an additional 1,615 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of North American Construction Group by 2.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 79,212 shares of the oil and gas company’s stock valued at $1,765,000 after acquiring an additional 2,180 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in shares of North American Construction Group by 80.1% in the 3rd quarter. New York State Common Retirement Fund now owns 8,947 shares of the oil and gas company’s stock valued at $194,000 after acquiring an additional 3,980 shares during the last quarter. Institutional investors and hedge funds own 74.99% of the company’s stock.

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.