CIBC Downgrades Stantec (STN) to Hold

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CIBC lowered shares of Stantec (NYSE:STN) (TSE:STN) to a hold rating in a research report sent to investors on Friday morning.

Several other brokerages have also recently issued reports on STN. Scotiabank raised Stantec from a sector perform rating to an outperform rating in a research report on Friday, October 19th. Raymond James cut Stantec from an outperform rating to a market perform rating in a research report on Friday. ValuEngine cut Stantec from a hold rating to a sell rating in a research report on Thursday, September 6th. Howard Weil raised Stantec from a sector perform rating to a sector outperform rating in a research report on Friday, October 19th. Finally, Zacks Investment Research cut Stantec from a hold rating to a sell rating in a research report on Wednesday, October 10th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Stantec presently has an average rating of Hold and an average target price of $29.00.

NYSE:STN traded down $1.76 on Friday, hitting $24.22. The stock had a trading volume of 31,624 shares, compared to its average volume of 27,797. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 17.81 and a beta of 1.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.69 and a current ratio of 1.69. Stantec has a 52-week low of $23.95 and a 52-week high of $29.25.

Stantec (NYSE:STN) (TSE:STN) last announced its earnings results on Thursday, November 8th. The business services provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.07). The firm had revenue of $690.05 million during the quarter, compared to analysts’ expectations of $699.73 million. Stantec had a return on equity of 10.09% and a net margin of 2.58%. As a group, equities analysts forecast that Stantec will post 1.35 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 10th. Stockholders of record on Friday, December 28th will be given a dividend of $0.1049 per share. The ex-dividend date is Thursday, December 27th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.73%. Stantec’s payout ratio is currently 30.88%.

Several hedge funds have recently bought and sold shares of the company. CIBC World Markets Inc. lifted its position in shares of Stantec by 1.1% during the 2nd quarter. CIBC World Markets Inc. now owns 211,323 shares of the business services provider’s stock valued at $5,420,000 after buying an additional 2,389 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of Stantec by 2.5% during the 2nd quarter. Toronto Dominion Bank now owns 154,730 shares of the business services provider’s stock valued at $4,053,000 after buying an additional 3,829 shares in the last quarter. CLARET ASSET MANAGEMENT Corp lifted its position in shares of Stantec by 5.3% during the 3rd quarter. CLARET ASSET MANAGEMENT Corp now owns 82,021 shares of the business services provider’s stock valued at $2,040,000 after buying an additional 4,109 shares in the last quarter. Global X Management Co LLC lifted its position in shares of Stantec by 18.7% during the 2nd quarter. Global X Management Co LLC now owns 27,743 shares of the business services provider’s stock valued at $712,000 after buying an additional 4,374 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of Stantec by 2.5% during the 3rd quarter. Swiss National Bank now owns 203,670 shares of the business services provider’s stock valued at $5,048,000 after buying an additional 4,900 shares in the last quarter. 58.51% of the stock is currently owned by hedge funds and other institutional investors.

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 four segments: Consulting Services – Canada, Consulting Services – United States, Consulting Services – Global, and Construction Services.

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