Stantec (NYSE:STN) (TSE:STN) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a note issued to investors on Saturday, Zacks.com reports.
According to Zacks, "Stantec Inc. provides professional consulting services in planning, engineering, architecture, interior design, landscape architecture, surveying and geomatics. It also provides professional consulting services in environmental sciences, project management, and project economics for infrastructure and facilities projects. Its services include, or relate to, the development of conceptual plans, zoning approval of design infrastructure, transportation planning, traffic engineering, landscape architecture, urban planning, design construction review and surveying. It provides knowledge-based solutions for infrastructure and facilities projects through value-added professional services principally under fee-for-service agreements with clients. Stantec Inc. is headquartered in Edmonton, Canada. "
Several other brokerages also recently weighed in on STN. Royal Bank of Canada assumed coverage on shares of Stantec in a research report on Monday, July 13th. They set a "sector perform" rating and a $46.00 price target for the company. BMO Capital Markets cut Stantec from an "outperform" rating to a "market perform" rating and set a $41.00 price target for the company. in a research note on Wednesday, April 15th. TD Securities upped their price target on Stantec from $46.00 to $51.00 and gave the company a "buy" rating in a report on Monday, May 11th. Finally, Scotiabank upped their target price on shares of Stantec from $45.00 to $47.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Stantec presently has an average rating of "Hold" and a consensus target price of $41.69.
Shares of NYSE:STN opened at $32.19 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.76 and a quick ratio of 1.76. Stantec has a 1 year low of $20.22 and a 1 year high of $32.85. The company has a market cap of $3.58 billion, a PE ratio of 25.35 and a beta of 1.13. The stock's 50-day moving average is $30.86 and its 200 day moving average is $29.44.
Stantec (NYSE:STN) (TSE:STN) last posted its quarterly earnings data on Wednesday, May 6th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.02. The business had revenue of $712.22 million during the quarter, compared to the consensus estimate of $657.79 million. Stantec had a return on equity of 12.01% and a net margin of 3.86%. Analysts expect that Stantec will post 1.37 EPS for the current fiscal year.
Several large investors have recently modified their holdings of the business. C M Bidwell & Associates Ltd. purchased a new position in shares of Stantec in the 1st quarter worth approximately $32,000. Fort L.P. bought a new position in Stantec during the first quarter valued at $54,000. 1832 Asset Management L.P. raised its stake in shares of Stantec by 56.3% in the first quarter. 1832 Asset Management L.P. now owns 2,345 shares of the business services provider's stock valued at $60,000 after acquiring an additional 845 shares during the period. Tortoise Capital Advisors L.L.C. bought a new stake in shares of Stantec in the 1st quarter worth about $135,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Stantec during the 1st quarter worth about $205,000. 62.09% of the stock is owned by institutional investors and hedge funds.
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 three segments: Consulting Services - Canada, Consulting Services - United States, and Consulting Services - Global.
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7 Gold Stocks to Buy Before the Fed Changes Its Mind
Just when investors thought that the price of gold couldn’t go any higher, the Federal Reserve added fuel to the fire. On July 29, the Fed said there was not sufficient evidence of an economic recovery to warrant changing their current policies.
Not only does that mean that interest rates will stay at or nor zero, but that the Fed may initiate other actions as well. In his statement after the Fed meeting, chairman Jerome Powell said the Fed was “not even thinking about thinking about raising rates.”
And while the novel coronavirus was certainly a factor, it’s not the only factor. The Fed is looking intently at the collateral damage from the lockdown measures in March and April. Over 14 million Americans who had jobs in February are unemployed. And many of those jobs will not be coming back.
This is creating the perfect scenario for gold and gold stocks. The price of gold has surged over 25% in 2020. At the time of this writing, it sits at $1,953 per ounce. Of course as soon as gold starts to near $2,000 the cries that the rally is over begin.
Are they right again? Maybe, but I’m a little skeptical. Gold always climbs during times of uncertainty. That’s true today more than ever. We’re months away from a presidential election. We’re learning how to live with a novel virus for which there is no vaccine. We have social unrest that has turned into riots in many major cities.
With that in mind, here are seven of the best gold stocks that you can invest in right now.
View the "7 Gold Stocks to Buy Before the Fed Changes Its Mind".