North American Construction (NOA - Free Report) closed at $10.17 in the latest trading session, marking a -1.93% move from the prior day. This change lagged the S&P 500's 0.34% loss on the day. Meanwhile, the Dow lost 0.09%, and the Nasdaq, a tech-heavy index, lost 0.43%.
Prior to today's trading, shares of the heavy construction and mining services company had gained 0.29% over the past month. This has outpaced the Construction sector's gain of 0.16% and lagged the S&P 500's gain of 4.46% in that time.
Wall Street will be looking for positivity from NOA as it approaches its next earnings report date. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $122.63 million, up 99.11% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.35 per share and revenue of $520.38 million, which would represent changes of +221.43% and +64.35%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for NOA. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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 remained stagnant within the past month. NOA currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that NOA has a Forward P/E ratio of 7.68 right now. This represents a discount compared to its industry's average Forward P/E of 11.89.
The Building Products - Heavy Construction industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 155, which puts it in the bottom 40% 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.