Zacks Investment Research lowered shares of Stantec Inc. (NYSE:STN) (TSE:STN) from a buy rating to a hold rating in a research report released on Wednesday morning.
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 brokerages also recently weighed in on STN. TheStreet raised Stantec from a c rating to a b- rating in a research note on Monday, August 14th. BidaskClub upgraded Stantec from a sell rating to a hold rating in a research report on Thursday, June 29th. Finally, Royal Bank Of Canada began coverage on Stantec in a research report on Monday. They set a sector perform rating and a $40.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of Hold and an average price target of $33.00.
Shares of Stantec (NYSE STN) traded up 1.81% during trading on Wednesday, hitting $28.61. The stock had a trading volume of 8,116 shares. The company has a market cap of $3.26 billion, a P/E ratio of 33.50 and a beta of 1.57. Stantec has a one year low of $21.50 and a one year high of $28.85. The stock’s 50-day moving average price is $28.21 and its 200-day moving average price is $25.89.
Stantec (NYSE:STN) (TSE:STN) last issued its quarterly earnings data on Wednesday, August 9th. The business services provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. Stantec had a return on equity of 10.67% and a net margin of 2.31%. The firm had revenue of $891.49 million during the quarter, compared to analyst estimates of $902.78 million. During the same quarter last year, the firm earned $0.37 EPS. Stantec’s quarterly revenue was up 14.7% on a year-over-year basis. On average, equities research analysts forecast that Stantec will post $1.54 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 12th. Stockholders of record on Friday, September 29th were paid a $0.10 dividend. The ex-dividend date was Thursday, September 28th. This is a positive change from Stantec’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.42%. Stantec’s payout ratio is presently 51.28%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake 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 valued at $2,653,000 after acquiring an additional 5,114 shares during the period. Karp Capital Management Corp bought a new stake in shares of Stantec in the 1st quarter valued at approximately $248,000. Goldman Sachs Group Inc. grew its stake in shares of Stantec by 24.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 68,507 shares of the business services provider’s stock valued at $1,774,000 after purchasing an additional 13,489 shares during the period. Vanguard Group Inc. grew its stake in shares of Stantec by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 2,039,743 shares of the business services provider’s stock valued at $52,830,000 after purchasing an additional 111,310 shares during the period. Finally, Credit Suisse AG grew its stake in shares of Stantec by 8.7% in the 1st quarter. Credit Suisse AG now owns 70,620 shares of the business services provider’s stock valued at $1,829,000 after purchasing an additional 5,668 shares during the period. Hedge funds and other institutional investors own 57.15% 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.