North American Construction Group (NYSE:NOA) Posts Earnings Results, Misses Expectations By $0.01 EPS

North American Construction Group (NYSE:NOA) (TSE:NOA) announced its quarterly earnings data on Wednesday. The oil and gas company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates 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 Stock Performance

Shares of NOA traded up $0.26 during mid-day trading on Wednesday, reaching $14.43. The company’s stock had a trading volume of 128,340 shares, compared to its average volume of 93,367. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 1.57. North American Construction Group has a 1-year low of $12.12 and a 1-year high of $22.08. The business has a 50-day simple moving average of $14.24 and a two-hundred day simple moving average of $15.32. The stock has a market cap of $433.61 million, a P/E ratio of 16.59 and a beta of 1.29.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On North American Construction Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NOA. Bank of America Corp DE raised its position in shares of North American Construction Group by 80.7% in the second 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 period. SkyView Investment Advisors LLC boosted its holdings in shares of North American Construction Group by 3.0% during the 2nd quarter. SkyView Investment Advisors LLC now owns 70,692 shares of the oil and gas company’s stock worth $1,139,000 after buying an additional 2,040 shares during the period. Jane Street Group LLC acquired a new position in North American Construction Group in the 1st quarter valued at about $476,000. Geode Capital Management LLC raised its holdings in North American Construction Group by 51.4% in the 2nd quarter. Geode Capital Management LLC now owns 21,511 shares of the oil and gas company’s stock valued at $344,000 after acquiring an additional 7,300 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in North American Construction Group during the second quarter worth approximately $122,000. 74.99% of the stock is owned by institutional investors.

North American Construction Group Company Profile

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.