North American Construction Group (TSE:NOA) Stock Price Up 13.7% Following Dividend Announcement

North American Construction Group Ltd. (TSE:NOA) (NYSE:NOA) shares rose 13.7% during trading on Thursday after the company announced a dividend. The stock traded as high as C$27.53 and last traded at C$27.21. Approximately 22,064 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 65,813 shares. The stock had previously closed at C$23.93.

The newly announced dividend which will be paid on Friday, January 3rd. Stockholders of record on Wednesday, November 27th will be given a $0.12 dividend. This is a boost from North American Construction Group’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Wednesday, November 27th. North American Construction Group’s payout ratio is currently 21.86%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NOA shares. ATB Capital lowered their price objective on North American Construction Group from C$40.00 to C$38.00 in a research note on Friday. National Bankshares increased their price objective on shares of North American Construction Group from C$39.00 to C$40.00 and gave the company an “outperform” rating in a research report on Friday. Canaccord Genuity Group raised their price objective on shares of North American Construction Group from C$30.00 to C$32.00 and gave the company a “buy” rating in a research note on Friday. TD Securities dropped their target price on shares of North American Construction Group from C$34.00 to C$33.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, BMO Capital Markets lowered their price objective on North American Construction Group from C$37.00 to C$32.00 in a research report on Thursday, August 1st. 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 a consensus target price of C$36.25.

North American Construction Group Trading Up 0.7 %

The stock has a 50 day simple moving average of C$25.19 and a 200-day simple moving average of C$26.57. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 210.33. The firm has a market capitalization of C$730.80 million, a P/E ratio of 14.94, a P/E/G ratio of 0.79 and a beta of 1.59.

North American Construction Group (TSE:NOA) (NYSE:NOA) last announced its earnings results on Wednesday, July 31st. The company reported C$0.85 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of C$314.61 million. On average, equities research analysts forecast that North American Construction Group Ltd. will post 4.0597484 EPS for the current fiscal year.

Insider Activity

In other news, Director Maryse C. Saint-Laurent bought 2,000 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were bought at an average price of C$25.88 per share, for a total transaction of C$51,760.00. In other North American Construction Group news, Director Maryse C. Saint-Laurent acquired 2,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was purchased at an average price of C$25.88 per share, with a total value of C$51,760.00. Also, Director Martin Robert Ferron acquired 3,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were bought at an average cost of C$24.15 per share, with a total value of C$72,460.80. Insiders acquired a total of 12,000 shares of company stock valued at $290,121 in the last 90 days. Company insiders own 8.93% of the company’s stock.

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.