North American Construction Group Ltd. (NYSE:NOA) Sees Large Decline in Short Interest
North American Construction Group Ltd. (NYSE:NOA – Get Free Report) (TSE:NOA) saw a large drop in short interest in November. As of November 30th, there was short interest totalling 81,000 shares, a drop of 39.4% from the November 15th total of 133,600 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average trading volume of 50,700 shares, the days-to-cover ratio is currently 1.6 days.
Wall Street Analysts Forecast Growth
NOA has been the topic of several recent research reports. TD Cowen reissued a “hold” rating on shares of North American Construction Group in a report on Thursday, September 28th. StockNews.com initiated coverage on North American Construction Group in a report on Thursday, October 5th. They set a “buy” rating on the stock. Finally, TD Securities downgraded North American Construction Group from a “buy” rating to a “hold” rating in a report on Thursday, September 28th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.33.
Read Our Latest Research Report on North American Construction Group
Institutional Trading of North American Construction Group
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Shell Asset Management Co. boosted its stake in shares of North American Construction Group by 142.3% in the 3rd quarter. Shell Asset Management Co. now owns 1,929 shares of the oil and gas company’s stock worth $42,000 after buying an additional 1,133 shares during the last quarter. UBS Group AG boosted its stake in shares of North American Construction Group by 121.4% in the 1st quarter. UBS Group AG now owns 2,216 shares of the oil and gas company’s stock worth $32,000 after buying an additional 1,215 shares during the last quarter. State of Tennessee Treasury Department purchased a new position in shares of North American Construction Group in the 1st quarter worth approximately $40,000. JPMorgan Chase & Co. boosted its stake in shares of North American Construction Group by 114.5% in the 1st quarter. JPMorgan Chase & Co. now owns 2,831 shares of the oil and gas company’s stock worth $41,000 after buying an additional 1,511 shares during the last quarter. Finally, New York State Common Retirement Fund purchased a new position in shares of North American Construction Group in the 1st quarter worth approximately $60,000. 61.68% of the stock is owned by institutional investors.
North American Construction Group Stock Up 0.5 %
North American Construction Group stock traded up $0.09 during midday trading on Wednesday, reaching $19.83. The stock had a trading volume of 32,812 shares, compared to its average volume of 62,283. North American Construction Group has a 12 month low of $12.48 and a 12 month high of $26.30. The company has a market capitalization of $530.25 million, a P/E ratio of 11.35 and a beta of 1.54. The company has a fifty day moving average price of $20.53 and a two-hundred day moving average price of $21.23. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.16.
North American Construction Group (NYSE:NOA – Get Free Report) (TSE:NOA) last issued its earnings results on Wednesday, November 1st. The oil and gas company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). North American Construction Group had a net margin of 8.27% and a return on equity of 24.51%. The firm had revenue of $145.18 million during the quarter, compared to the consensus estimate of $154.85 million. As a group, equities analysts expect that North American Construction Group will post 1.72 EPS for the current fiscal year.
North American Construction Group Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Thursday, November 30th will be issued a dividend of $0.072 per share. This represents a $0.29 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Wednesday, November 29th. North American Construction Group’s dividend payout ratio is currently 16.57%.
About North American Construction Group (Get Free Report)
North American Construction Group Ltd. provides equipment maintenance, and mining and heavy construction services in Canada, the United States, and Australia. Its Heavy Construction & Mining division offers constructability reviews, budgetary cost estimates, design-build construction, project management, contract mining, pre-stripping/pit pioneering, overburden removal and stockpile, muskeg removal and stockpile, site preparation, air strip construction, site dewatering/perimeter ditching, tailings and process pipelines, haulage and access road construction, tailings dam construction and densification, mechanically stabilized earth walls, dyke construction, and reclamation services; and Equipment Maintenance services.
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