North American Construction Group (TSE:NOA) Hits New 1-Year Low on Analyst Downgrade

North American Construction Group Ltd. (TSE:NOA) (NYSE:NOA) shares reached a new 52-week low during trading on Wednesday after Canaccord Genuity Group lowered their price target on the stock from C$34.00 to C$30.00. Canaccord Genuity Group currently has a buy rating on the stock. North American Construction Group traded as low as C$23.38 and last traded at C$23.60, with a volume of 74492 shares changing hands. The stock had previously closed at C$24.07.

Other research analysts also recently issued research reports about the stock. Ventum Financial dropped their price objective on shares of North American Construction Group from C$52.00 to C$47.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Raymond James lowered their price target on shares of North American Construction Group from C$40.00 to C$35.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. BMO Capital Markets lowered their price target on shares of North American Construction Group from C$37.00 to C$32.00 in a report on Thursday, August 1st. TD Securities lowered their price target on shares of North American Construction Group from C$34.00 to C$33.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, National Bankshares lowered their price target on shares of North American Construction Group from C$47.00 to C$39.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$36.13.

Insiders Place Their Bets

In other news, Director Maryse C. Saint-Laurent acquired 2,000 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was acquired at an average price of C$25.88 per share, with a total value of C$51,760.00. In other North American Construction Group news, Director Martin Robert Ferron acquired 7,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average cost of C$23.70 per share, with a total value of C$165,900.00. Also, Director Maryse C. Saint-Laurent acquired 2,000 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were acquired at an average cost of C$25.88 per share, for a total transaction of C$51,760.00. Insiders bought a total of 12,000 shares of company stock valued at $290,121 over the last 90 days. Insiders own 8.93% of the company’s stock.

North American Construction Group Trading Down 2.9 %

The company has a market capitalization of C$624.41 million, a PE ratio of 12.77, a price-to-earnings-growth ratio of 0.79 and a beta of 1.59. The company’s fifty day moving average is C$25.31 and its 200-day moving average is C$27.10. The company has a debt-to-equity ratio of 210.33, a current ratio of 1.03 and a quick ratio of 0.79.

North American Construction Group (TSE:NOA) (NYSE:NOA) last released its quarterly earnings results on Wednesday, July 31st. The company reported C$0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.79 by C$0.06. North American Construction Group had a net margin of 4.99% and a return on equity of 15.19%. The business had revenue of C$276.31 million for the quarter, compared to analyst estimates of C$314.61 million. On average, analysts anticipate that North American Construction Group Ltd. will post 4.0597484 EPS for the current fiscal year.

North American Construction Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, August 30th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Friday, August 30th. North American Construction Group’s dividend payout ratio is currently 21.86%.

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.