North American Construction Group Ltd. (NYSE: NOA) expects quarterly dividend of $0.06

North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) declared a quarterly dividend on Friday, February 18, the wall street journal reports. Shareholders of record on Friday, March 4 will receive a dividend of 0.063 per share from the oil and gas company on Friday, April 8. This represents a dividend of $0.25 on an annualized basis and a yield of 1.61%. The ex-dividend date is Thursday, March 3. This is a positive change from North American Construction Group’s previous quarterly dividend of $0.03.

North American Construction Group has increased its dividend by 108.2% over the past three years. North American Construction Group has a payout ratio of 7.1%, indicating that its dividend is sufficiently covered by earnings. Analysts expect North American Construction Group to earn $1.82 per share next year, meaning the company should continue to be able to cover its annual dividend of $0.13 with a ratio of expected future payout of 7.1%.

NYSE: NOA traded down $0.08 during Friday trading hours, hitting $15.62. 55,932 shares of the company were traded, against an average volume of 40,016. The company has a debt ratio of 1.42, a current ratio of 1.02 and a quick ratio of 0.68. The company has a market capitalization of $468.96 million, a price/earnings ratio of 13.90 and a beta of 1.51. North American Construction Group has a 52-week low of $10.29 and a 52-week high of $17.79. The stock has a 50-day simple moving average of $14.67 and a 200-day simple moving average of $14.83.

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North American Construction Group (NYSE:NOA) (TSE:NOA) last released quarterly results on Tuesday, February 15. The oil and gas company reported earnings per share of $0.59 for the quarter, beating the Zacks consensus estimate of $0.56 by $0.03. North American Construction Group achieved a net margin of 7.51% and a return on equity of 20.60%. In the same quarter of the previous year, the company achieved EPS of $0.28. On average, analysts expect North American Construction Group to post EPS of 1.41 for the current fiscal year.

A number of institutional investors and hedge funds have recently increased or reduced their stakes in the stock. Bank of America Corp DE increased its stake in North American Construction Group by 14.1% during the fourth quarter. Bank of America Corp DE now owns 5,661 shares of the oil and gas company valued at $85,000 after buying an additional 701 shares last quarter. SkyView Investment Advisors LLC acquired a new position in North American Construction Group during Q4 worth $173,000. Marshall Wace LLP acquired a new position in North American Construction Group during Q4 worth $100,000. Millennium Management LLC increased its stake in North American Construction Group by 21.4% during the third quarter. Millennium Management LLC now owns 39,687 shares of the oil and gas company worth $584,000 after acquiring an additional 7,003 shares last quarter. Finally, the Royal Bank of Canada increased its position in North American Construction Group by 15.6% during the third quarter. Royal Bank of Canada now owns 69,547 shares of the oil and gas company worth $1,024,000 after acquiring 9,381 more shares last quarter. 42.38% of the shares are held by institutional investors and hedge funds.

A number of equity analysts have recently commented on NOA shares. TD Securities moved North American Construction Group shares from a “hold” rating to a “buy” rating and raised its target price for the company from $23.00 to $25.00 in a research note Thursday, December 9. CIBC began covering shares of North American Construction Group in a research note on Tuesday, January 25. They issued a “neutral” rating and a target price of $22.00 on the stock. Maxim Group raised its price target on North American Construction Group stock from C$25.00 to C$27.00 and gave the company an “outperform” rating in a Friday, Oct. 29 research note. Pi Financial reissued a “buy” rating and published a target price of C$26.00 on North American Construction Group shares in a research note on Thursday, October 21. Finally, raised its price target on North American Construction Group shares from C$25.00 to C$28.00 and gave the company a “buy” rating in a Thursday, Oct. 21 research note . One analyst rated the stock with a sell rating, another assigned a hold rating and seven assigned the stock a buy rating. According to data from MarketBeat.com, North American Construction Group currently has a consensus rating of “Buy” and an average target price of $24.50.

North American Construction Group Company Profile

North American Construction Group Ltd. is committed to providing mining and heavy construction services. It provides its services to clients in the resource development and industrial construction sectors, primarily in Western Canada. The company is focused on supporting the construction and operation of surface mines in the oil sands.

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Dividend history for North American Construction Group (NYSE:NOA)

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