Wall Street analysts expect that Stantec Inc. (NYSE:STN) (TSE:STN) will announce $668.00 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Stantec’s earnings, with estimates ranging from $658.36 million to $686.04 million. Stantec reported sales of $614.47 million during the same quarter last year, which would suggest a positive year over year growth rate of 8.7%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Thursday, February 22nd.
According to Zacks, analysts expect that Stantec will report full year sales of $668.00 million for the current financial year, with estimates ranging from $2.70 billion to $2.75 billion. For the next year, analysts anticipate that the company will report sales of $2.95 billion per share, with estimates ranging from $2.83 billion to $3.11 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Stantec.
Several research analysts have recently issued reports on the company. Zacks Investment Research raised Stantec from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Royal Bank of Canada assumed coverage on Stantec in a research note on Monday, October 23rd. They set a “sector perform” rating and a $40.00 price target for the company. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $35.00.
Stantec announced that its board has approved a share repurchase program on Thursday, November 9th that authorizes the company to buyback 2,280,000 shares. This buyback authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.
Institutional investors have recently bought and sold shares of the stock. Global X Management Co. LLC increased its position in Stantec by 75.3% during the 4th quarter. Global X Management Co. LLC now owns 7,951 shares of the business services provider’s stock worth $222,000 after purchasing an additional 3,416 shares in the last quarter. ARP Americas LP purchased a new stake in Stantec during the 4th quarter worth about $247,000. Trexquant Investment LP purchased a new stake in Stantec during the 3rd quarter worth about $272,000. Dynamic Technology Lab Private Ltd purchased a new stake in Stantec during the 3rd quarter worth about $313,000. Finally, OxFORD Asset Management LLP purchased a new stake in Stantec during the 3rd quarter worth about $364,000. Hedge funds and other institutional investors own 54.12% of the company’s stock.
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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