North American Construction Group (TSE:NOA) Rating Increased to Strong-Buy at Raymond James

Raymond James upgraded shares of North American Construction Group (TSE:NOA) (NYSE:NOA) from an outperform rating to a strong-buy rating in a research report sent to investors on Thursday,BayStreet.CA reports. Raymond James currently has C$40.00 price target on the stock.

NOA has been the topic of several other research reports. Canaccord Genuity Group raised their target price on shares of North American Construction Group from C$32.00 to C$33.00 in a report on Friday, December 6th. National Bankshares reduced their price objective on shares of North American Construction Group from C$45.00 to C$44.00 and set an “outperform” rating on the stock in a report on Thursday. Cibc World Mkts raised shares of North American Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 5th. ATB Capital dropped their target price on North American Construction Group from C$40.00 to C$38.00 in a report on Friday, November 1st. Finally, CIBC raised North American Construction Group from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from C$30.00 to C$38.00 in a report on Thursday, December 5th. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of C$38.13.

North American Construction Group Stock Down 0.8 %

Shares of TSE:NOA opened at C$28.22 on Thursday. The firm’s 50-day moving average is C$29.51 and its two-hundred day moving average is C$27.14. 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 has a 1 year low of C$22.68 and a 1 year high of C$34.87. The firm has a market capitalization of C$754.32 million, a PE ratio of 15.42, a price-to-earnings-growth ratio of 0.79 and a beta of 1.59.

North American Construction Group (TSE:NOA) (NYSE:NOA) last posted its quarterly earnings data on Wednesday, October 30th. The company reported C$1.12 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.10 by C$0.02. North American Construction Group had a return on equity of 15.19% and a net margin of 4.99%. The business had revenue of C$286.86 million for the quarter, compared to analyst estimates of C$294.95 million. During the same quarter in the prior year, the company earned $0.50 earnings per share. Analysts predict that North American Construction Group will post 4.0597484 EPS for the current year.

North American Construction Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, January 3rd were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.70%. This is a boost from North American Construction Group’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Wednesday, November 27th. North American Construction Group’s dividend payout ratio is presently 21.86%.

Insiders Place Their Bets

In other news, Director Martin Robert Ferron sold 6,209 shares of the firm’s stock in a transaction on Wednesday, January 1st. The shares were sold at an average price of C$31.60, for a total value of C$196,204.40. 8.93% of the stock is owned by insiders.

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.