Stantec Inc. (STN) Downgraded to “Hold” at Zacks Investment Research
Stantec Inc. (NYSE:STN) (TSE:STN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued 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 have also recently commented on STN. Royal Bank Of Canada assumed coverage on Stantec in a research note on Monday. They set a “sector perform” rating and a $40.00 price target for the company. BidaskClub upgraded Stantec from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. Finally, TheStreet upgraded Stantec from a “c” rating to a “b-” rating in a research note on Monday, August 14th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $33.00.
Shares of Stantec (NYSE:STN) opened at 28.75 on Wednesday. The stock’s 50 day moving average is $28.20 and its 200-day moving average is $25.87. The firm has a market cap of $3.27 billion, a PE ratio of 33.67 and a beta of 1.57. Stantec has a 52 week low of $21.50 and a 52 week high of $28.85.
Stantec (NYSE:STN) (TSE:STN) last released its quarterly earnings results on Wednesday, August 9th. The business services provider reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.03. Stantec had a return on equity of 10.67% and a net margin of 2.31%. The business had revenue of $891.49 million during the quarter, compared to analysts’ expectations of $902.78 million. During the same quarter in the prior year, the business earned $0.37 earnings per share. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, equities analysts predict that Stantec will post $1.57 EPS for the current fiscal year.
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A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Stantec by 5.8% during the first quarter. Vanguard Group Inc. now owns 2,039,743 shares of the business services provider’s stock worth $52,830,000 after acquiring an additional 111,310 shares during the period. Dimensional Fund Advisors LP grew its holdings in Stantec by 5.3% during the first quarter. Dimensional Fund Advisors LP now owns 102,219 shares of the business services provider’s stock worth $2,653,000 after acquiring an additional 5,114 shares during the period. Credit Suisse AG grew its holdings in Stantec by 8.7% during the first quarter. Credit Suisse AG now owns 70,620 shares of the business services provider’s stock worth $1,829,000 after acquiring an additional 5,668 shares during the period. Goldman Sachs Group Inc. grew its holdings in Stantec by 24.5% during the first quarter. Goldman Sachs Group Inc. now owns 68,507 shares of the business services provider’s stock worth $1,774,000 after acquiring an additional 13,489 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Stantec by 17.4% during the first quarter. Bank of New York Mellon Corp now owns 15,488 shares of the business services provider’s stock worth $401,000 after acquiring an additional 2,300 shares during the period. 57.15% of the stock is currently owned by hedge funds and other 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 operates through four segments Consulting Services-Canada, Consulting Services-United States, Consulting Services-Global and Construction Services.
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