North American Construction (NOA) Gains As Market Dips: What You Should Know
North American Construction (NOA) closed the most recent trading day at $11.27, moving +0.45% from the previous trading session. This change outpaced the S&P 500's 1.44% loss on the day. At the same time, the Dow lost 1.27%, and the tech-heavy Nasdaq lost 2.06%.
Coming into today, shares of the heavy construction and mining services company had gained 30.47% in the past month. In that same time, the Construction sector lost 12.42%, while the S&P 500 lost 2.61%.
NOA will be looking to display strength as it nears its next earnings release, which is expected to be October 30, 2018. On that day, NOA is projected to report earnings of $0 per share, which would represent year-over-year growth of 100%. Our most recent consensus estimate is calling for quarterly revenue of $58.29 million, up 4.35% from the year-ago period.
NOA's full-year Zacks Consensus Estimates are calling for earnings of $0.47 per share and revenue of $311.98 million. These results would represent year-over-year changes of +235.71% and +38.04%, respectively.
Any recent changes to analyst estimates for NOA should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.17% higher. NOA is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, NOA is holding a Forward P/E ratio of 23.87. This valuation marks a premium compared to its industry's average Forward P/E of 15.02.
The Building Products - Heavy Construction industry is part of the Construction sector. This group has a Zacks Industry Rank of 53, putting it in the top 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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North American Construction Group Ltd. (NOA) : Free Stock Analysis Report
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