Stantec (NYSE:STN) Shares Up 8.4% on Strong Earnings

Stantec Inc. (NYSE:STN) (TSE:STN) shares shot up 8.4% during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $82.20 and last traded at $82.76. 48,637 shares were traded during mid-day trading, a decline of 60% from the average session volume of 120,934 shares. The stock had previously closed at $76.37.

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on STN. Canaccord Genuity Group raised Stantec from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. StockNews.com upgraded shares of Stantec from a “hold” rating to a “buy” rating in a report on Saturday, November 16th. Finally, Canaccord Genuity Group raised shares of Stantec from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Stantec has a consensus rating of “Moderate Buy”.

Institutional Investors Weigh In On Stantec

Several large investors have recently made changes to their positions in the stock. Mackenzie Financial Corp raised its position in Stantec by 166.5% during the fourth quarter. Mackenzie Financial Corp now owns 22,342,818 shares of the business services provider’s stock worth $1,751,093,000 after acquiring an additional 13,958,790 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Stantec by 121.3% in the third quarter. The Manufacturers Life Insurance Company now owns 2,802,689 shares of the business services provider’s stock valued at $225,537,000 after buying an additional 1,536,475 shares during the period. Norges Bank acquired a new stake in shares of Stantec in the fourth quarter valued at approximately $110,221,000. Janus Henderson Group PLC bought a new position in shares of Stantec during the 4th quarter worth approximately $56,191,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Stantec by 19.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,344,994 shares of the business services provider’s stock worth $262,791,000 after acquiring an additional 542,305 shares during the last quarter. Institutional investors and hedge funds own 63.86% of the company’s stock.

Stantec Price Performance

The company has a market capitalization of $9.52 billion, a P/E ratio of 37.96 and a beta of 1.01. The company’s 50-day moving average price is $78.01 and its two-hundred day moving average price is $80.91. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 1.42.

About Stantec

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.