North American Construction (NOA) closed at $9.91 in the latest trading session, marking a -1.1% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.97%. Meanwhile, the Dow lost 2.32%, and the Nasdaq, a tech-heavy index, lost 2.78%.
Coming into today, shares of the heavy construction and mining services company had lost 8.41% in the past month. In that same time, the Construction sector lost 6.42%, while the S&P 500 lost 3.33%.
Wall Street will be looking for positivity from NOA as it approaches its next earnings report date. This is expected to be February 12, 2019. On that day, NOA is projected to report earnings of $0.08 per share, which would represent year-over-year growth of 14.29%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $68.30 million, up 5.71% from the year-ago period.
NOA's full-year Zacks Consensus Estimates are calling for earnings of $0.44 per share and revenue of $280.40 million. These results would represent year-over-year changes of +214.29% and +24.06%, respectively.
Investors should also note any recent changes to analyst estimates for NOA. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for 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, 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 6.38% lower. NOA is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, NOA is holding a Forward P/E ratio of 22.77. This valuation marks a premium compared to its industry's average Forward P/E of 16.04.
The Building Products - Heavy Construction industry is part of the Construction sector. This group has a Zacks Industry Rank of 76, putting it in the top 30% 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.
To follow NOA in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
North American Construction Group Ltd. (NOA) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research