North American Construction Group Ltd (NOA) Receives Average Rating of “Buy” from Brokerages

North American Construction Group Ltd (NYSE:NOA) (TSE:NOA) has earned an average recommendation of “Buy” from the six ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research cut shares of North American Construction Group from a “buy” rating to a “hold” rating in a report on Saturday. Royal Bank of Canada upgraded shares of North American Construction Group from an “outperform” rating to a “strong-buy” rating in a report on Monday. Raymond James upgraded shares of North American Construction Group from an “outperform” rating to a “strong-buy” rating in a research note on Monday. National Bank Financial reiterated a “buy” rating on shares of North American Construction Group in a research note on Tuesday, April 2nd. Finally, CIBC began coverage on shares of North American Construction Group in a research note on Tuesday, April 16th. They issued a “sector outperform” rating on the stock.

NOA traded down $0.25 during midday trading on Monday, reaching $11.51. The company’s stock had a trading volume of 124,193 shares, compared to its average volume of 114,079. The stock has a market cap of $320.46 million, a PE ratio of 27.40 and a beta of 0.48. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.75 and a current ratio of 0.84. North American Construction Group has a 1 year low of $5.35 and a 1 year high of $13.62.

North American Construction Group (NYSE:NOA) (TSE:NOA) last announced its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.03. The business had revenue of $140.21 million for the quarter, compared to analysts’ expectations of $161.58 million. North American Construction Group had a net margin of 2.34% and a return on equity of 12.32%. Equities research analysts predict that North American Construction Group will post 0.78 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, May 31st will be paid a $0.0148 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.06 annualized dividend and a dividend yield of 0.52%. North American Construction Group’s dividend payout ratio is presently 14.29%.

Hedge funds and other institutional investors have recently modified their holdings of the company. State of New Jersey Common Pension Fund D bought a new position in shares of North American Construction Group in the fourth quarter worth approximately $337,000. Morgan Stanley lifted its stake in shares of North American Construction Group by 16.7% in the third quarter. Morgan Stanley now owns 398,898 shares of the oil and gas company’s stock worth $3,909,000 after buying an additional 57,050 shares in the last quarter. ClariVest Asset Management LLC lifted its stake in shares of North American Construction Group by 29.5% in the fourth quarter. ClariVest Asset Management LLC now owns 105,553 shares of the oil and gas company’s stock worth $938,000 after buying an additional 24,058 shares in the last quarter. Wedge Capital Management L L P NC lifted its position in North American Construction Group by 139.2% during the fourth quarter. Wedge Capital Management L L P NC now owns 148,622 shares of the oil and gas company’s stock valued at $1,323,000 after purchasing an additional 86,490 shares during the period. Finally, Marshall Wace LLP bought a new position in North American Construction Group during the third quarter valued at approximately $408,000. Hedge funds and other institutional investors own 54.86% of the company’s stock.

About North American Construction Group

North American Construction Group Ltd. engages in providing mining and heavy construction services. It offers their services to customers in the resource development and industrial construction sectors, primarily within Western Canada. The company focuses on supporting the construction and operation of surface mines, in the oil sands.

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