North American Construction Group (NYSE:NOA) Downgraded by 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 issued on Friday morning.

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

North American Construction Group Stock Performance

Shares of NYSE NOA opened at $20.58 on Friday. The firm’s 50-day moving average price is $22.72 and its 200-day moving average price is $21.87. The company has a quick ratio of 0.81, a current ratio of 1.04 and a debt-to-equity ratio of 1.79. The company has a market cap of $550.25 million, a PE ratio of 15.59 and a beta of 1.52. North American Construction Group has a 52-week low of $18.02 and a 52-week high of $26.30.

North American Construction Group (NYSE:NOA) (TSE:NOA) last announced its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The company had revenue of $220.33 million for the quarter, compared to analysts’ expectations 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 in the previous year, the business earned $0.71 EPS. As a group, analysts anticipate that North American Construction Group will post 2.84 EPS for the current year.

North American Construction Group Cuts Dividend

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 paid a $0.0726 dividend. This represents a $0.29 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Friday, May 31st. North American Construction Group’s dividend payout ratio (DPR) is presently 21.97%.

Hedge Funds Weigh In On North American Construction Group

Several institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp increased its stake in shares of North American Construction Group by 13.5% in the third quarter. Mackenzie Financial Corp now owns 1,381,810 shares of the oil and gas company’s stock worth $29,116,000 after purchasing an additional 164,823 shares in the last quarter. TD Asset Management Inc bought a new position in North American Construction Group in the 3rd quarter worth $499,000. New York State Common Retirement Fund increased its stake in 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 worth $194,000 after buying an additional 3,980 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of North American Construction Group by 48.7% in the third quarter. Janney Montgomery Scott LLC now owns 71,277 shares of the oil and gas company’s stock valued at $1,548,000 after acquiring an additional 23,334 shares in the last quarter. Finally, Shell Asset Management Co. lifted its position in shares of North American Construction Group by 142.3% in the third quarter. Shell Asset Management Co. now owns 1,929 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 1,133 shares in the last quarter. Institutional investors 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.