North American Construction Group (NYSE:NOA) Downgraded by StockNews.com

StockNews.com downgraded shares of North American Construction Group (NYSE:NOA) (TSE:NOA) from a buy rating to a hold rating in a research report released on Friday morning.

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

North American Construction Group Price Performance

NOA stock opened at $20.58 on Friday. The stock’s fifty day simple moving average is $22.72 and its 200-day simple moving average is $21.87. North American Construction Group has a 52-week low of $18.02 and a 52-week high of $26.30. 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 stock has a market capitalization of $550.25 million, a price-to-earnings ratio of 15.59 and a beta of 1.52.

North American Construction Group (NYSE:NOA) (TSE:NOA) last posted 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 firm 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 last year, the firm posted $0.71 EPS. Equities research analysts expect that North American Construction Group will post 2.84 EPS for the current year.

North American Construction Group Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.0726 per share. 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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NOA. Connor Clark & Lunn Investment Management Ltd. grew its holdings in North American Construction Group by 101.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 545,500 shares of the oil and gas company’s stock worth $11,819,000 after buying an additional 274,600 shares in the last quarter. Quadrature Capital Ltd lifted its position in shares of North American Construction Group by 325.9% during the 3rd quarter. Quadrature Capital Ltd now owns 299,400 shares of the oil and gas company’s stock valued at $6,551,000 after acquiring an additional 229,100 shares during the last quarter. NewGen Asset Management Ltd acquired a new stake in shares of North American Construction Group during the 4th quarter valued at $4,170,000. Intact Investment Management Inc. purchased a new stake in shares of North American Construction Group in the fourth quarter valued at $3,915,000. Finally, Mackenzie Financial Corp lifted its holdings 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 valued at $29,116,000 after purchasing an additional 164,823 shares in the last quarter. 74.99% of the stock is owned by institutional investors.

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.