North American Construction Group (NYSE:NOA) Cut to “Hold” at ValuEngine

ValuEngine lowered shares of North American Construction Group (NYSE:NOA) (TSE:NOA) from a buy rating to a hold rating in a research note published on Monday, June 3rd, ValuEngine reports.

Several other research firms have also issued reports on NOA. Zacks Investment Research lowered shares of North American Construction Group from a buy rating to a hold rating in a report on Saturday, May 11th. 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, May 13th. National Bank Financial restated a buy rating on shares of North American Construction Group in a report on Tuesday, April 2nd. CIBC initiated coverage on shares of North American Construction Group in a report on Tuesday, April 16th. They set a sector outperform rating for the company. Finally, Raymond James upgraded shares of North American Construction Group from an outperform rating to a strong-buy rating in a report on Monday, May 13th. One research analyst has rated the stock with a hold rating, two have given a buy rating and three have given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $14.00.

North American Construction Group stock traded up $0.12 during trading hours on Monday, reaching $10.80. 75,463 shares of the stock were exchanged, compared to its average volume of 110,903. The company has a market cap of $264.61 million, a P/E ratio of 25.71 and a beta of 0.63. 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 twelve month low of $5.35 and a twelve month high of $13.62. The stock has a 50 day moving average price of $11.07.

North American Construction Group (NYSE:NOA) (TSE:NOA) last issued its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. The business had revenue of $140.21 million during the quarter, compared to analyst estimates of $161.58 million. North American Construction Group had a net margin of 2.34% and a return on equity of 12.32%. On average, sell-side analysts predict that North American Construction Group will post 1.24 earnings per share for the current year.

The business 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 dividend of $0.0148 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Thursday, May 30th. North American Construction Group’s dividend payout ratio (DPR) is 14.29%.

Several hedge funds have recently made changes to their positions in NOA. Whittier Trust Co. bought a new stake in shares of North American Construction Group during the 4th quarter worth $27,000. Barclays PLC bought a new stake in North American Construction Group in the 4th quarter valued at about $84,000. Cypress Capital Management LLC WY raised its stake in North American Construction Group by 3,303.1% in the 4th quarter. Cypress Capital Management LLC WY now owns 11,911 shares of the oil and gas company’s stock valued at $106,000 after acquiring an additional 11,561 shares during the period. Millennium Management LLC bought a new stake in North American Construction Group in the 4th quarter valued at about $111,000. Finally, Greenwood Capital Associates LLC bought a new stake in North American Construction Group in the 1st quarter valued at about $193,000. 60.86% 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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