Yahoo Finance North American Construction (NOA) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, North American Construction (NOA) closed at $18.49, marking a +1.32% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.99%.
Heading into today, shares of the heavy construction and mining services company had lost 1.19% over the past month, outpacing the Construction sector's loss of 1.95% and lagging the S&P 500's gain of 0.42% in that time.
North American Construction will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.30, up 130.77% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $138.8 million, up 5.42% from the year-ago period.
NOA's full-year Zacks Consensus Estimates are calling for earnings of $1.87 per share and revenue of $634.37 million. These results would represent year-over-year changes of +1.08% and +7.55%, respectively.
Investors might also notice recent changes to analyst estimates for North American Construction. These revisions help to show the ever-changing nature of near-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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. North American Construction is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, North American Construction is currently trading at a Forward P/E ratio of 9.78. This represents a discount compared to its industry's average Forward P/E of 14.19.
The Building Products - Heavy Construction industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 43% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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North American Construction Group Ltd. (NOA) : Free Stock Analysis Report
