Stantec Inc. (STN) Posts Quarterly Earnings Results
Stantec Inc. (NYSE:STN) issued its earnings results on Thursday. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.48 by $0.07. The company earned $1.26 million during the quarter, compared to analysts’ expectations of $918.11 million. Stantec had a net margin of 3.88% and a return on equity of 10.55%. The business’s revenue was up 40.7% compared to the same quarter last year.
Stantec (NYSE:STN) opened at 24.30 on Thursday. Stantec has a 52 week low of $20.71 and a 52 week high of $26.87. The company has a 50-day moving average of $22.98 and a 200-day moving average of $24.25. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of 25.00 and a beta of 1.46.
Several analysts have commented on the stock. DA Davidson reiterated a “hold” rating and set a $25.00 target price on shares of Stantec in a research report on Wednesday. Canaccord Genuity restated a “hold” rating and issued a $30.00 price objective (down previously from $33.00) on shares of Stantec in a research report on Sunday, October 23rd. Zacks Investment Research upgraded shares of Stantec from a “sell” rating to a “hold” rating in a research report on Wednesday, October 19th. National Bank Financial upgraded shares of Stantec from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, August 17th. Finally, 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 report on Wednesday, August 10th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $32.00.
Hedge funds have recently modified their holdings of the stock. Guardian Capital LP raised its stake in shares of Stantec by 11.7% in the second quarter. Guardian Capital LP now owns 2,391,824 shares of the company’s stock worth $57,603,000 after buying an additional 249,631 shares in the last quarter. Citadel Advisors LLC acquired a new position in shares of Stantec during the second quarter worth approximately $392,000. Mackenzie Financial Corp acquired a new position in shares of Stantec during the second quarter worth approximately $3,541,000. Counsel Portfolio Services Inc. acquired a new position in shares of Stantec during the second quarter worth approximately $278,000. Finally, Allianz Asset Management AG raised its position in shares of Stantec by 6.8% in the second quarter. Allianz Asset Management AG now owns 77,219 shares of the company’s stock worth $1,863,000 after buying an additional 4,889 shares during the period. Hedge funds and other institutional investors own 52.69% 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 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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