CIBC Reiterates Hold Rating for Stantec (NYSE:STN)

CIBC restated their hold rating on shares of Stantec (NYSE:STN) (TSE:STN) in a research report released on Thursday, TipRanks reports.

Other equities research analysts have also recently issued reports about the stock. Royal Bank of Canada reiterated an average rating and set a $36.00 price objective on shares of Stantec in a research report on Friday, March 1st. TheStreet upgraded shares of Stantec from a c rating to a b- rating in a research report on Friday, March 15th. BMO Capital Markets reiterated a buy rating on shares of Stantec in a research report on Thursday. Zacks Investment Research upgraded shares of Stantec from a hold rating to a buy rating and set a $27.00 price objective for the company in a research report on Friday, May 17th. Finally, Raymond James reiterated a neutral rating and set a $35.00 price objective on shares of Stantec in a research report on Monday, May 13th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $32.67.

Shares of STN traded down $0.20 during trading hours on Thursday, hitting $23.59. 1,535 shares of the stock were exchanged, compared to its average volume of 13,937. Stantec has a fifty-two week low of $21.44 and a fifty-two week high of $26.74. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.88. The stock has a market cap of $2.68 billion, a PE ratio of 16.85 and a beta of 1.17.

Stantec (NYSE:STN) (TSE:STN) last posted its quarterly earnings data on Thursday, May 9th. The business services provider reported $0.34 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.34. Stantec had a net margin of 1.12% and a return on equity of 10.03%. The company had revenue of $680.04 million during the quarter, compared to analysts’ expectations of $675.48 million. Sell-side analysts anticipate that Stantec will post 1.52 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.108 per share. This represents a $0.43 annualized dividend and a yield of 1.83%. The ex-dividend date is Thursday, June 27th. Stantec’s dividend payout ratio is presently 31.43%.

A number of hedge funds and other institutional investors have recently modified their holdings of STN. Bank of New York Mellon Corp boosted its stake in Stantec by 65.1% during the third quarter. Bank of New York Mellon Corp now owns 16,023 shares of the business services provider’s stock worth $398,000 after acquiring an additional 6,317 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Stantec by 44.7% during the fourth quarter. Mackenzie Financial Corp now owns 9,416,402 shares of the business services provider’s stock worth $205,843,000 after acquiring an additional 2,909,622 shares in the last quarter. CLARET ASSET MANAGEMENT Corp boosted its stake in Stantec by 1.7% during the fourth quarter. CLARET ASSET MANAGEMENT Corp now owns 83,447 shares of the business services provider’s stock worth $1,830,000 after acquiring an additional 1,426 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Stantec by 18.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,951 shares of the business services provider’s stock worth $764,000 after acquiring an additional 5,512 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in Stantec by 3.2% during the fourth quarter. CIBC Asset Management Inc now owns 62,509 shares of the business services provider’s stock worth $1,370,000 after acquiring an additional 1,929 shares in the last quarter. 66.01% of the stock is currently owned by institutional investors and hedge funds.

About Stantec

Stantec Inc provides professional consulting services in the area of infrastructure and facilities for clients in the public and private sectors in Canada, the United States, and internationally. It operates through three segments: Consulting Services – Canada, Consulting Services – United States, and Consulting Services – Global.

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Analyst Recommendations for Stantec (NYSE:STN)

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