North American Construction Group (NYSE:NOA) Issues Earnings Results

North American Construction Group (NYSE:NOA) (TSE:NOA) posted its quarterly earnings data on Wednesday. The oil and gas company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.01), Zacks reports. North American Construction Group had a return on equity of 17.15% and a net margin of 2.82%.

North American Construction Group Price Performance

Shares of NYSE NOA traded up $0.26 during trading hours on Wednesday, hitting $14.43. 128,340 shares of the stock were exchanged, compared to its average volume of 93,367. The company’s fifty day simple moving average is $14.24 and its two-hundred day simple moving average is $15.32. The company has a market cap of $433.61 million, a PE ratio of 16.59 and a beta of 1.29. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.75 and a current ratio of 0.94. North American Construction Group has a 1-year low of $12.12 and a 1-year high of $22.08.

Institutional Investors Weigh In On North American Construction Group

A number of large investors have recently modified their holdings of NOA. Bank of America Corp DE increased its stake in shares of North American Construction Group by 80.7% in the 2nd quarter. Bank of America Corp DE now owns 326,266 shares of the oil and gas company’s stock valued at $5,214,000 after purchasing an additional 145,745 shares during the last quarter. SkyView Investment Advisors LLC boosted its stake in North American Construction Group by 3.0% in the second quarter. SkyView Investment Advisors LLC now owns 70,692 shares of the oil and gas company’s stock valued at $1,139,000 after buying an additional 2,040 shares in the last quarter. Jane Street Group LLC bought a new position in North American Construction Group in the first quarter valued at about $476,000. Geode Capital Management LLC raised its stake in North American Construction Group by 51.4% during the second quarter. Geode Capital Management LLC now owns 21,511 shares of the oil and gas company’s stock worth $344,000 after acquiring an additional 7,300 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in North American Construction Group during the second quarter worth about $122,000. Institutional investors and hedge funds own 74.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NOA shares. TD Securities downgraded shares of North American Construction Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 14th. Cibc World Mkts lowered shares of North American Construction Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. CIBC cut shares of North American Construction Group to a “neutral” rating in a report on Friday, August 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of North American Construction Group in a research report on Wednesday, October 8th. Finally, Zacks Research raised North American Construction Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 14th. Seven analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.

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.