In the latest trading session, North American Construction (NOA - Free Report) closed at $10.73, marking a +0.09% move from the previous day. This move outpaced the S&P 500's daily loss of 3.29%. Meanwhile, the Dow lost 3.15%, and the Nasdaq, a tech-heavy index, lost 4.08%.
Prior to today's trading, shares of the heavy construction and mining services company had gained 23.93% over the past month. This has outpaced the Construction sector's loss of 6.92% and the S&P 500's gain of 0.44% in that time.
Investors will be hoping for strength from NOA as it approaches 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.47 per share and revenue of $311.98 million, which would represent changes of +235.71% and +38.04%, respectively, from the prior year.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 2.17% higher within the past month. NOA is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note NOA's current valuation metrics, including its Forward P/E ratio of 22.81. For comparison, its industry has an average Forward P/E of 15.34, which means NOA is trading at a premium to the group.
The Building Products - Heavy Construction industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 70, which puts it in the top 27% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.