North American Construction Group Ltd (NYSE:NOA) (TSE:NOA) – Research analysts at National Bank Financial raised their FY2019 earnings estimates for North American Construction Group in a report released on Wednesday, October 31st. National Bank Financial analyst M. Sytchev now anticipates that the oil and gas company will post earnings of $1.14 per share for the year, up from their previous forecast of $1.10. National Bank Financial also issued estimates for North American Construction Group’s FY2020 earnings at $1.27 EPS.
Several other brokerages have also recently issued reports on NOA. Zacks Investment Research upgraded North American Construction Group from a “hold” rating to a “strong-buy” rating and set a $13.00 price target for the company in a research note on Tuesday, October 9th. ValuEngine cut North American Construction Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 8th.
North American Construction Group (NYSE:NOA) (TSE:NOA) last issued its quarterly earnings results on Tuesday, October 30th. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.05. The business had revenue of $65.14 million during the quarter. North American Construction Group had a return on equity of 10.56% and a net margin of 4.34%.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC raised its position in North American Construction Group by 4.4% during the third 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 purchasing an additional 45,430 shares in the last quarter. Renaissance Technologies LLC acquired a new position in North American Construction Group during the second quarter valued at approximately $6,205,000. Cumberland Partners Ltd acquired a new position in North American Construction Group during the second quarter valued at approximately $5,047,000. Signia Capital Management LLC acquired a new position in North American Construction Group during the second quarter valued at approximately $4,897,000. Finally, K.J. Harrison & Partners Inc acquired a new position in North American Construction Group during the second quarter valued at approximately $2,045,000. Institutional investors and hedge funds own 51.21% of the company’s stock.
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 stock was sold at an average price of $11.04, for a total value of $1,102,388.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 4th. Investors of record on Friday, November 30th will be paid a $0.0153 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Thursday, November 29th. North American Construction Group’s dividend payout ratio (DPR) is currently 42.86%.
About North American Construction Group
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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