Stantec (NYSE:STN) Downgraded by Raymond James to Hold

Raymond James lowered shares of Stantec (NYSE:STN) (TSE:STN) from a moderate buy rating to a hold rating in a report released on Thursday morning, Marketbeat Ratings reports. Raymond James also issued estimates for Stantec’s Q3 2024 earnings at $0.91 EPS, Q4 2024 earnings at $0.60 EPS, FY2024 earnings at $2.99 EPS, Q1 2025 earnings at $0.74 EPS, Q2 2025 earnings at $0.89 EPS, Q3 2025 earnings at $1.07 EPS, Q4 2025 earnings at $0.79 EPS and FY2025 earnings at $3.49 EPS.

Stantec Trading Down 2.2 %

NYSE:STN traded down $1.76 during trading hours on Thursday, hitting $79.78. 123,739 shares of the stock were exchanged, compared to its average volume of 110,487. The company’s 50 day moving average is $83.91 and its two-hundred day moving average is $82.74. Stantec has a twelve month low of $59.55 and a twelve month high of $88.42. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $9.10 billion, a P/E ratio of 34.84 and a beta of 1.04.

Stantec (NYSE:STN) (TSE:STN) last posted its quarterly earnings data on Wednesday, May 8th. The business services provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.04. Stantec had a return on equity of 16.51% and a net margin of 5.19%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $996.81 million. On average, sell-side analysts anticipate that Stantec will post 3.1 earnings per share for the current fiscal year.

Stantec Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.152 per share. This represents a $0.61 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Friday, September 27th. Stantec’s dividend payout ratio is 26.64%.

Institutional Trading of Stantec

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Stantec by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 4,344,568 shares of the business services provider’s stock valued at $360,773,000 after acquiring an additional 133,687 shares during the last quarter. Norges Bank bought a new stake in shares of Stantec during the 4th quarter valued at $109,514,000. TD Asset Management Inc raised its position in shares of Stantec by 0.7% during the 4th quarter. TD Asset Management Inc now owns 1,252,366 shares of the business services provider’s stock valued at $101,036,000 after acquiring an additional 8,860 shares during the last quarter. National Bank of Canada FI increased its position in shares of Stantec by 11.1% in the 2nd quarter. National Bank of Canada FI now owns 940,461 shares of the business services provider’s stock valued at $77,860,000 after buying an additional 93,823 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in shares of Stantec by 86.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 913,713 shares of the business services provider’s stock valued at $75,897,000 after buying an additional 422,538 shares in the last quarter. Institutional investors own 63.86% of the company’s stock.

Stantec Company Profile

Stantec Inc provides professional services in the areas of infrastructure and facilities to the public and private sectors in Canada, the United States, and internationally. It offers evaluation, planning, and designing infrastructure solutions; solutions for sustainable water resources, planning, management, and infrastructure; environmental services; integrated architecture, engineering, interior design, and planning solutions for buildings; and energy and resources solutions.