Stantec (NYSE:STN) Price Target Lowered to C$77.00 at Raymond James

Stantec (NYSE:STNGet Rating) (TSE:STN) had its price objective lowered by Raymond James from C$85.00 to C$77.00 in a research note published on Friday morning, The Fly reports. Raymond James also issued estimates for Stantec’s Q4 2023 earnings at $0.59 EPS.

A number of other analysts have also recently weighed in on STN. BMO Capital Markets cut their price target on Stantec from C$81.00 to C$78.00 in a research note on Friday, February 25th. Scotiabank cut their target price on Stantec from C$78.00 to C$72.00 in a research report on Thursday. TD Securities cut their target price on Stantec from C$80.00 to C$74.00 in a research report on Friday. Royal Bank of Canada cut their target price on Stantec from C$69.00 to C$65.00 in a research report on Friday. Finally, StockNews.com started coverage on Stantec in a research report on Thursday, March 31st. They set a buy rating on the stock. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Buy and a consensus target price of $72.62.

Stantec stock traded up $1.15 during midday trading on Friday, reaching $42.20. The company’s stock had a trading volume of 147,684 shares, compared to its average volume of 78,252. Stantec has a fifty-two week low of $40.92 and a fifty-two week high of $58.50. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.60. The company has a market cap of $4.69 billion, a P/E ratio of 30.14 and a beta of 0.93. The business has a 50-day simple moving average of $48.45 and a 200-day simple moving average of $52.08.

Stantec (NYSE:STNGet Rating) (TSE:STN) last posted its quarterly earnings results on Wednesday, February 23rd. The business services provider reported $0.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.45. Stantec had a return on equity of 14.21% and a net margin of 4.06%. The company had revenue of $726.86 million for the quarter, compared to analysts’ expectations of $732.46 million. As a group, equities analysts forecast that Stantec will post 2.36 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be issued a dividend of $0.1391 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Wednesday, June 29th. Stantec’s dividend payout ratio is currently 40.71%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. purchased a new stake in Stantec in the 4th quarter valued at approximately $338,000. National Bank of Canada FI purchased a new stake in Stantec in the 4th quarter valued at approximately $18,064,000. AGF Investments America Inc. boosted its holdings in Stantec by 14.7% in the 4th quarter. AGF Investments America Inc. now owns 245,468 shares of the business services provider’s stock valued at $13,792,000 after purchasing an additional 31,426 shares in the last quarter. Manchester Capital Management LLC purchased a new stake in Stantec in the 3rd quarter valued at approximately $291,000. Finally, Goldman Sachs Group Inc. boosted its holdings in Stantec by 30.0% in the 3rd quarter. Goldman Sachs Group Inc. now owns 388,482 shares of the business services provider’s stock valued at $18,236,000 after purchasing an additional 89,716 shares in the last quarter. 62.35% of the stock is currently owned by institutional investors.

About Stantec (Get Rating)

Stantec Inc provides engineering, architecture, and environmental consulting services in the areas of infrastructure and facilities in Canada, the United States, and internationally. The company provides consulting services in engineering, architecture, interior design, landscape architecture, surveying, environmental sciences, project management, and project economics.

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