Stantec (TSE:STN) Sets New 52-Week High on Analyst Upgrade

Shares of Stantec Inc. (TSE:STN) (NYSE:STN) reached a new 52-week high on Monday after Stifel Nicolaus raised their price target on the stock from C$160.00 to C$175.00. Stifel Nicolaus currently has a buy rating on the stock. Stantec traded as high as C$155.75 and last traded at C$155.66, with a volume of 31530 shares changing hands. The stock had previously closed at C$154.20.

Other equities research analysts have also issued reports about the company. Desjardins upped their price objective on Stantec from C$153.00 to C$158.00 and gave the company a “buy” rating in a research note on Friday, August 15th. CIBC boosted their target price on Stantec from C$156.00 to C$168.00 in a report on Friday, July 18th. Royal Bank Of Canada boosted their target price on Stantec from C$150.00 to C$153.00 and gave the stock an “outperform” rating in a report on Friday, August 15th. Canaccord Genuity Group boosted their target price on Stantec from C$150.00 to C$165.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. Finally, Raymond James Financial boosted their target price on Stantec from C$155.00 to C$160.00 and gave the stock an “outperform” rating in a report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$156.00.

Stantec Stock Performance

The firm has a fifty day simple moving average of C$150.49 and a 200-day simple moving average of C$140.95. The company has a current ratio of 1.42, a quick ratio of 1.46 and a debt-to-equity ratio of 85.29. The stock has a market cap of C$17.66 billion, a price-to-earnings ratio of 40.52, a P/E/G ratio of 1.46 and a beta of 0.87.

Stantec Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 15th will be issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $0.90 annualized dividend and a yield of 0.6%. Stantec’s dividend payout ratio is currently 22.77%.

About Stantec

Stantec Inc is a sustainable engineering, architecture, and environmental consulting company. The company is geographically diversified in three regional operating units namely Canada, the United States and Global, offering similar services across all regions. The company offers services in various sectors across the project life cycle through five business operating units infrastructure, water, buildings, environmental services, and energy and resources.