Zacks Investment Research Upgrades Stantec Inc. (STN) to “Hold”
Stantec Inc. (NYSE:STN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Stantec Inc. provides professional consulting services in planning, engineering, architecture, interior design, landscape architecture, surveying and geomatics. It also provides professional consulting services in environmental sciences, project management, and project economics for infrastructure and facilities projects. Its services include, or relate to, the development of conceptual plans, zoning approval of design infrastructure, transportation planning, traffic engineering, landscape architecture, urban planning, design construction review and surveying. It provides knowledge-based solutions for infrastructure and facilities projects through value-added professional services principally under fee-for-service agreements with clients. Stantec Inc. is headquartered in Edmonton, Canada. “
Several other research firms also recently issued reports on STN. Scotiabank downgraded shares of Stantec from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $36.00 to $34.00 in a research note on Friday, August 5th. TD Securities restated a “hold” rating and issued a $35.00 price objective (down previously from $37.00) on shares of Stantec in a research note on Wednesday, August 10th. Finally, National Bank Financial upgraded shares of Stantec from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, August 17th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $32.50.
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Stantec (NYSE:STN) opened at 23.43 on Wednesday. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 23.79 and a beta of 1.36. The firm’s 50 day moving average price is $23.39 and its 200-day moving average price is $24.60. Stantec has a 1-year low of $20.71 and a 1-year high of $26.87.
Stantec (NYSE:STN) last issued its earnings results on Thursday, August 4th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The firm earned $1.05 billion during the quarter, compared to the consensus estimate of $591.70 million. Stantec had a net margin of 3.88% and a return on equity of 10.55%. On average, equities analysts anticipate that Stantec will post $1.30 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, October 13th. Stockholders of record on Friday, September 30th were paid a $0.0863 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Wednesday, September 28th. Stantec’s dividend payout ratio is currently 34.34%.
Several hedge funds have recently modified their holdings of the company. Invictus RG bought a new stake in shares of Stantec during the first quarter worth $132,000. AXA raised its stake in shares of Stantec by 3.8% in the second quarter. AXA now owns 8,100 shares of the company’s stock worth $195,000 after buying an additional 300 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Stantec during the second quarter worth $205,000. Bank of Nova Scotia Trust Co. raised its stake in shares of Stantec by 3.4% in the first quarter. Bank of Nova Scotia Trust Co. now owns 9,561 shares of the company’s stock worth $242,000 after buying an additional 315 shares in the last quarter. Finally, 1st Global Advisors Inc. raised its stake in shares of Stantec by 3.9% in the second quarter. 1st Global Advisors Inc. now owns 10,435 shares of the company’s stock worth $253,000 after buying an additional 393 shares in the last quarter. 54.10% of the stock is owned by institutional investors.
Stantec Inc is a provider of professional services in the area of infrastructure and facilities for clients in the public and private sectors. The Company’s segment is Consulting Services. The Company’s services include planning, engineering, architecture, interior design, landscape architecture, surveying, environmental sciences, project management, and project economics for infrastructure and facilities projects.
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