Stantec (TSE:STN) Cut to “Market Perform” at Raymond James

Raymond James lowered shares of Stantec (TSE:STN) (NYSE:STN) from an outperform rating to a market perform rating in a research report report published on Friday, November 9th. The firm currently has C$35.50 target price on the stock, down from their previous target price of C$37.00.

Other equities analysts have also recently issued reports about the company. BMO Capital Markets increased their target price on Stantec from C$40.00 to C$41.00 and gave the stock an outperform rating in a report on Tuesday, September 4th. CIBC raised Stantec from a neutral rating to an outperform rating in a report on Monday, October 22nd. Laurentian raised Stantec from a hold rating to a buy rating and set a C$39.00 target price for the company in a report on Monday, October 22nd. Canaccord Genuity increased their target price on Stantec from C$37.00 to C$40.00 in a report on Monday, October 22nd. Finally, Royal Bank of Canada increased their target price on Stantec from C$36.00 to C$38.00 and gave the stock a sector perform rating in a report on Friday, November 9th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of C$38.17.

TSE:STN traded down C$0.20 during mid-day trading on Friday, hitting C$31.46. 140,399 shares of the company’s stock traded hands, compared to its average volume of 226,536. The company has a debt-to-equity ratio of 49.54, a quick ratio of 1.61 and a current ratio of 1.67. Stantec has a 12 month low of C$30.54 and a 12 month high of C$36.83.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 10th. Investors of record on Friday, December 28th will be issued a dividend of $0.138 per share. The ex-dividend date of this dividend is Thursday, December 27th. This represents a $0.55 dividend on an annualized basis and a yield of 1.75%. Stantec’s dividend payout ratio is 88.11%.

In other news, Director Donald James Lowry acquired 1,200 shares of the firm’s stock in a transaction on Wednesday, November 14th. The shares were purchased at an average cost of C$30.98 per share, for a total transaction of C$37,176.00. Also, Director Valentino Dimanno acquired 2,106 shares of the firm’s stock in a transaction on Friday, November 16th. The stock was purchased at an average price of C$30.96 per share, for a total transaction of C$65,201.76. Insiders have purchased a total of 10,407 shares of company stock valued at $321,001 over the last ninety days.

Stantec Company Profile

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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Analyst Recommendations for Stantec (TSE:STN)

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