North American Construction Group (NOA) Raised to Strong-Buy at Raymond James

Raymond James upgraded shares of North American Construction Group (NYSE:NOA) (TSE:NOA) from an outperform rating to a strong-buy rating in a report issued on Monday morning, Briefing.com Automated Import reports.

A number of other research firms have also recently issued reports on NOA. Zacks Investment Research cut North American Construction Group from a buy rating to a hold rating in a research report on Saturday, May 11th. ValuEngine raised North American Construction Group from a hold rating to a buy rating in a research report on Saturday, February 2nd. National Bank Financial reaffirmed a buy rating on shares of North American Construction Group in a research report on Tuesday, April 2nd. Finally, CIBC started coverage on North American Construction Group in a research report on Tuesday, April 16th. They issued a sector outperform rating for the company. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $14.00.

Shares of NYSE NOA opened at $12.21 on Monday. North American Construction Group has a 52 week low of $5.35 and a 52 week high of $13.62. The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 2.17. The company has a market cap of $316.37 million, a P/E ratio of 29.05 and a beta of 0.48.

North American Construction Group (NYSE:NOA) (TSE:NOA) last issued its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.36 by $0.03. North American Construction Group had a return on equity of 12.32% and a net margin of 2.34%. The firm had revenue of $140.21 million during the quarter, compared to analysts’ expectations of $161.58 million. As a group, equities research analysts anticipate that North American Construction Group will post 0.78 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, May 31st will be given a $0.0148 dividend. The ex-dividend date is Thursday, May 30th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.49%. North American Construction Group’s payout ratio is 14.29%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NOA. Whittier Trust Co. acquired a new stake in shares of North American Construction Group in the fourth quarter valued at approximately $27,000. SEI Investments Co acquired a new stake in shares of North American Construction Group in the first quarter valued at approximately $69,000. Barclays PLC acquired a new stake in shares of North American Construction Group in the fourth quarter valued at approximately $84,000. Cypress Capital Management LLC WY lifted its position in shares of North American Construction Group by 3,303.1% in the fourth quarter. Cypress Capital Management LLC WY now owns 11,911 shares of the oil and gas company’s stock valued at $106,000 after buying an additional 11,561 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of North American Construction Group in the fourth quarter valued at approximately $111,000. 55.52% of the stock is owned by institutional investors.

North American Construction Group Company Profile

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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