Stantec (TSE:STN) Shares Cross Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Stantec shares fell below their 200-day moving average, trading as low as C$96.22 versus the C$107.31 average, and last changing hands at C$96.83.
• Despite several analysts cutting price targets, coverage remains positive: 11 analysts rate the stock Buy, with a consensus target of C$143.00.
• Stantec reported C$1.61 in quarterly EPS on C$2.23 billion in revenue and declared a quarterly dividend of C$0.245, equivalent to an annualized C$0.98 and a 1.0% yield.

Stantec Inc. (TSE:STN - Get Free Report) NYSE: STN passed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of C$107.31 and traded as low as C$96.22. Stantec shares last traded at C$96.83, with a volume of 410,472 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Royal Bank Of Canada reduced their price target on Stantec from C$148.00 to C$146.00 and set an "outperform" rating for the company in a report on Friday, August 14th. Canadian Imperial Bank of Commerce cut their price objective on Stantec from C$160.00 to C$137.00 and set an "outperformer" rating for the company in a research report on Wednesday, July 8th. Scotiabank reduced their target price on Stantec from C$138.00 to C$133.00 and set a "sector outperform" rating for the company in a report on Friday, July 10th. National Bank Financial lowered their price target on shares of Stantec from C$143.00 to C$120.00 and set an "outperform" rating on the stock in a research note on Monday, July 13th. Finally, Desjardins set a C$169.00 price target on shares of Stantec and gave the company a "buy" rating in a report on Friday, August 14th. Eleven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of C$143.00.

Stantec Price Performance

The firm has a market cap of C$10.88 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 1.46 and a beta of 0.73. The company has a current ratio of 1.50, a quick ratio of 1.46 and a debt-to-equity ratio of 80.98. The company has a 50 day moving average price of C$100.20 and a 200 day moving average price of C$107.31.

Stantec (TSE:STN - Get Free Report) NYSE: STN last released its quarterly earnings data on Wednesday, August 12th. The company reported C$1.61 earnings per share for the quarter. The firm had revenue of C$2.23 billion during the quarter. Stantec had a return on equity of 15.26% and a net margin of 6.23%.

Stantec Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 15th will be given a $0.2450 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.0%. Stantec's dividend payout ratio (DPR) is currently 21.22%.

Insider Buying and Selling at Stantec

In other Stantec news, Director Douglas Keith Ammerman acquired 681 shares of the firm's stock in a transaction that occurred on Thursday, July 2nd. The shares were acquired at an average cost of C$97.84 per share, for a total transaction of C$66,629.04. Following the transaction, the director directly owned 42,512 shares of the company's stock, valued at approximately C$4,159,374.08. This represents a 1.63% increase in their ownership of the stock. Also, Director Susan Reisbord acquired 2,068 shares of the firm's stock in a transaction that occurred on Monday, August 24th. The stock was acquired at an average price of C$102.59 per share, for a total transaction of C$212,156.12. Following the completion of the transaction, the director directly owned 8,253 shares in the company, valued at approximately C$846,675.27. This represents a 33.44% increase in their ownership of the stock. Insiders own 0.27% of the company's stock.

About Stantec

Stantec empowers clients, people, and communities to rise to the world's greatest challenges at a time when the world faces more unprecedented concerns than ever before. We are a global leader in sustainable engineering, architecture, and environmental consulting. Our professionals deliver the expertise, technology, and innovation communities need to manage aging infrastructure, demographic and population changes, the energy transition, and more. Today's communities transcend geographic borders.

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