North American Construction Group (NOA) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of North American Construction Group (NYSE:NOA) (TSE:NOA) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

According to Zacks, “North American Construction Group Ltd. provides heavy construction and mining services primarily in Canada. It offers services to large oil, natural gas and resource companies. American Construction Group Ltd, formerly known as North American Energy Partners Inc., is based in Alberta, United States. “

Separately, ValuEngine raised North American Construction Group from a buy rating to a strong-buy rating in a report on Saturday, July 28th.

Shares of NOA traded down $0.65 on Tuesday, hitting $9.80. The company’s stock had a trading volume of 12,811 shares, compared to its average volume of 396,792. The company has a market capitalization of $283.42 million, a P/E ratio of 71.29 and a beta of 0.15. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 0.87. North American Construction Group has a fifty-two week low of $4.15 and a fifty-two week high of $12.68.

North American Construction Group (NYSE:NOA) (TSE:NOA) last announced its earnings results on Tuesday, October 30th. The oil and gas company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.05. The business had revenue of $65.14 million for the quarter. North American Construction Group had a return on equity of 10.56% and a net margin of 4.34%. On average, sell-side analysts anticipate that North American Construction Group will post 0.44 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 4th. Investors of record on Friday, November 30th will be given a $0.0153 dividend. This represents a $0.06 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend is Thursday, November 29th. North American Construction Group’s dividend payout ratio (DPR) is presently 42.86%.

In related news, major shareholder Cannell Capital Llc sold 99,854 shares of the business’s stock in a transaction that occurred on Thursday, October 4th. The shares were sold at an average price of $11.04, for a total value of $1,102,388.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 440,652 shares of company stock valued at $5,090,906 in the last 90 days.

Hedge funds have recently bought and sold shares of the stock. Spark Investment Management LLC bought a new position in North American Construction Group in the 2nd quarter worth approximately $808,000. Royce & Associates LP bought a new stake in shares of North American Construction Group during the 2nd quarter valued at $1,434,000. Dimensional Fund Advisors LP bought a new stake in shares of North American Construction Group during the 2nd quarter valued at $129,000. Acadian Asset Management LLC raised its position in shares of North American Construction Group by 4.4% during the 3rd quarter. Acadian Asset Management LLC now owns 1,086,081 shares of the oil and gas company’s stock valued at $10,644,000 after acquiring an additional 45,430 shares during the last quarter. Finally, K.J. Harrison & Partners Inc bought a new stake in shares of North American Construction Group during the 2nd quarter valued at $2,045,000. Hedge funds and other institutional investors own 50.78% of the company’s stock.

North American Construction Group Company Profile

North American Construction Group Ltd. provides 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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