Royal Bank Of Canada Initiates Coverage on Stantec Inc. (STN)
Equities researchers at Royal Bank Of Canada assumed coverage on shares of Stantec Inc. (NYSE:STN) (TSE:STN) in a note issued to investors on Monday. The firm set a “sector perform” rating on the business services provider’s stock.
STN has been the topic of several other reports. Zacks Investment Research upgraded Stantec from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Tuesday, August 15th. BidaskClub upgraded Stantec from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Finally, TheStreet upgraded Stantec from a “c” rating to a “b-” rating in a research report on Monday, August 14th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $32.20.
Stantec (NYSE:STN) opened at 28.55 on Monday. The stock’s 50 day moving average price is $28.18 and its 200-day moving average price is $25.84. Stantec has a 12 month low of $21.50 and a 12 month high of $28.75. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 33.43 and a beta of 1.57.
Stantec (NYSE:STN) (TSE:STN) last released its quarterly earnings results on Wednesday, August 9th. The business services provider reported $0.38 earnings per share for the quarter, beating 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 company had revenue of $891.49 million for the quarter, compared to analyst estimates of $902.78 million. During the same period in the previous year, the company posted $0.37 earnings per share. The firm’s revenue was up 14.7% on a year-over-year basis. Equities analysts anticipate that Stantec will post $1.57 EPS for the current fiscal year.
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A number of large investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its stake in shares of Stantec by 163.2% in the first quarter. Tower Research Capital LLC TRC now owns 4,038 shares of the business services provider’s stock worth $140,000 after purchasing an additional 2,504 shares during the last quarter. Karp Capital Management Corp purchased a new position in shares of Stantec in the first quarter worth $248,000. Bank of New York Mellon Corp raised its stake in shares of Stantec by 17.4% in 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 purchasing an additional 2,300 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Stantec by 24.5% in the first quarter. Goldman Sachs Group Inc. now owns 68,507 shares of the business services provider’s stock worth $1,774,000 after purchasing an additional 13,489 shares during the last quarter. Finally, Credit Suisse AG raised its stake in shares of Stantec by 8.7% in the first quarter. Credit Suisse AG now owns 70,620 shares of the business services provider’s stock worth $1,829,000 after purchasing an additional 5,668 shares during the last quarter. Institutional investors and hedge funds own 56.98% of the company’s stock.
Stantec Company Profile
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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