Stantec (NYSE:STN) Trading 8.4% Higher on Better-Than-Expected Earnings

Stantec Inc. (NYSE:STN) (TSE:STN) shares rose 8.4% during trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $82.20 and last traded at $82.76. Approximately 48,637 shares changed hands during trading, a decline of 60% from the average daily volume of 120,934 shares. The stock had previously closed at $76.37.

The business services provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.71 by $0.08. Stantec had a return on equity of 16.57% and a net margin of 4.78%.

Analyst Upgrades and Downgrades

STN has been the topic of a number of recent research reports. StockNews.com raised shares of Stantec from a “hold” rating to a “buy” rating in a report on Saturday, November 16th. Canaccord Genuity Group upgraded shares of Stantec from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Finally, Canaccord Genuity Group raised Stantec from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Stantec currently has a consensus rating of “Moderate Buy”.

Institutional Trading of Stantec

Hedge funds and other institutional investors have recently made changes to their positions in the business. Stifel Financial Corp grew its stake in Stantec by 3.1% in the third quarter. Stifel Financial Corp now owns 4,245 shares of the business services provider’s stock valued at $341,000 after purchasing an additional 126 shares in the last quarter. Atria Investments Inc increased its position in Stantec by 4.3% in the 4th quarter. Atria Investments Inc now owns 3,650 shares of the business services provider’s stock worth $286,000 after buying an additional 151 shares during the period. Signaturefd LLC boosted its holdings in Stantec by 4.5% in the 4th quarter. Signaturefd LLC now owns 4,041 shares of the business services provider’s stock valued at $317,000 after purchasing an additional 175 shares during the period. Mariner LLC lifted its holdings in shares of Stantec by 4.2% during the fourth quarter. Mariner LLC now owns 4,880 shares of the business services provider’s stock valued at $383,000 after acquiring an additional 195 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in Stantec by 5.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,025 shares of the business services provider’s stock worth $324,000 after buying an additional 196 shares in the last quarter. 63.86% of the stock is currently owned by institutional investors.

Stantec Stock Performance

The firm has a market cap of $9.52 billion, a P/E ratio of 37.96 and a beta of 1.01. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.54. The firm has a fifty day moving average of $78.01 and a 200-day moving average of $80.91.

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.