North American Construction Group (TSE:NOA) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

North American Construction Group Ltd. (TSE:NOA) (NYSE:NOA) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$20.00 and traded as high as C$23.05. North American Construction Group shares last traded at C$22.76, with a volume of 62,237 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NOA. TD Securities dropped their target price on shares of North American Construction Group from C$21.00 to C$19.00 and set a “hold” rating for the company in a research report on Friday, December 19th. Roth Mkm upgraded North American Construction Group to a “strong-buy” rating in a research note on Thursday, February 5th. National Bank Financial set a C$28.00 price target on North American Construction Group and gave the stock an “outperform” rating in a report on Monday, December 22nd. ATB Cormark Capital Markets set a C$26.00 price objective on North American Construction Group and gave the company a “sector perform” rating in a research note on Thursday, October 23rd. Finally, Canadian Imperial Bank of Commerce decreased their target price on North American Construction Group from C$22.00 to C$20.00 in a research report on Tuesday, December 30th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, North American Construction Group presently has a consensus rating of “Moderate Buy” and an average price target of C$28.06.

North American Construction Group Stock Performance

The company has a 50-day moving average of C$20.62 and a 200-day moving average of C$20.00. The firm has a market capitalization of C$661.75 million, a P/E ratio of 17.92, a price-to-earnings-growth ratio of 0.79 and a beta of 0.35. The company has a current ratio of 1.13, a quick ratio of 0.79 and a debt-to-equity ratio of 212.25.

North American Construction Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, January 9th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Wednesday, November 26th. North American Construction Group’s payout ratio is 37.80%.

North American Construction Group Company Profile

North American Construction Group Ltd is Canada’s provider of heavy civil construction and mining contractors. The company has provided services to the oil, natural gas and resource companies.