National Bank Financial Estimates NOA FY2024 Earnings

North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) – Research analysts at National Bank Financial lowered their FY2024 earnings per share (EPS) estimates for North American Construction Group in a research note issued to investors on Wednesday, January 22nd. National Bank Financial analyst M. Sytchev now expects that the oil and gas company will earn $2.47 per share for the year, down from their prior forecast of $2.73. The consensus estimate for North American Construction Group’s current full-year earnings is $2.65 per share. National Bank Financial also issued estimates for North American Construction Group’s Q4 2024 earnings at $0.69 EPS and FY2025 earnings at $2.69 EPS.

Several other equities research analysts have also recently issued reports on the stock. Cibc World Mkts upgraded shares of North American Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 5th. CIBC upgraded shares of North American Construction Group from a “neutral” rating to a “sector outperform” rating in a report on Thursday, December 5th. Finally, Raymond James upgraded shares of North American Construction Group from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, January 21st. One analyst has rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy”.

North American Construction Group Stock Down 2.1 %

NYSE NOA opened at $19.90 on Monday. North American Construction Group has a 12 month low of $16.46 and a 12 month high of $25.92. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 1.85. The stock has a market cap of $552.79 million, a PE ratio of 13.82 and a beta of 1.46. The stock’s 50 day moving average is $20.68 and its 200 day moving average is $19.47.

Institutional Investors Weigh In On North American Construction Group

Large investors have recently bought and sold shares of the business. Polar Asset Management Partners Inc. lifted its position in North American Construction Group by 59.8% during the third quarter. Polar Asset Management Partners Inc. now owns 1,709,868 shares of the oil and gas company’s stock valued at $31,981,000 after purchasing an additional 639,857 shares during the last quarter. National Bank of Canada FI raised its position in shares of North American Construction Group by 69.1% during the 3rd quarter. National Bank of Canada FI now owns 1,177,109 shares of the oil and gas company’s stock valued at $22,012,000 after buying an additional 480,885 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of North American Construction Group by 15.3% in the 3rd quarter. Bank of Montreal Can now owns 2,154,347 shares of the oil and gas company’s stock valued at $40,519,000 after acquiring an additional 285,225 shares during the last quarter. Millennium Management LLC grew its position in North American Construction Group by 240.4% in the second quarter. Millennium Management LLC now owns 225,336 shares of the oil and gas company’s stock worth $4,344,000 after acquiring an additional 159,142 shares in the last quarter. Finally, CIBC Asset Management Inc grew its position in North American Construction Group by 11.9% in the third quarter. CIBC Asset Management Inc now owns 1,291,883 shares of the oil and gas company’s stock worth $24,167,000 after acquiring an additional 137,327 shares in the last quarter. Institutional investors own 74.99% of the company’s stock.

North American Construction Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Wednesday, November 27th were paid a $0.089 dividend. This is an increase from North American Construction Group’s previous quarterly dividend of $0.07. The ex-dividend date was Wednesday, November 27th. This represents a $0.36 dividend on an annualized basis and a yield of 1.79%. North American Construction Group’s payout ratio is presently 25.69%.

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.