CIBC Issues Positive Forecast for Stantec (TSE:STN) Stock Price

Stantec (TSE:STN) (NYSE:STN) had its price target hoisted by CIBC from C$139.00 to C$141.00 in a report published on Thursday,BayStreet.CA reports.

A number of other research analysts also recently commented on STN. Scotiabank increased their price objective on Stantec from C$129.00 to C$141.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. National Bankshares raised their price objective on shares of Stantec from C$143.00 to C$144.00 and gave the stock an “outperform” rating in a report on Wednesday, April 9th. Royal Bank of Canada upped their target price on shares of Stantec from C$128.00 to C$138.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. TD Securities lifted their price target on shares of Stantec from C$139.00 to C$145.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus lifted their target price on Stantec from C$135.00 to C$144.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$140.50.

Stantec Price Performance

Stantec stock opened at C$120.88 on Thursday. 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 company has a fifty day simple moving average of C$117.17 and a 200-day simple moving average of C$115.34. The stock has a market cap of C$13.78 billion, a P/E ratio of 40.34, a price-to-earnings-growth ratio of 1.46 and a beta of 0.82. Stantec has a 12-month low of C$103.48 and a 12-month high of C$129.39.

Stantec Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th were issued a dividend of $0.225 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.90 dividend on an annualized basis and a yield of 0.74%. This is an increase from Stantec’s previous quarterly dividend of $0.21. Stantec’s payout ratio is currently 28.03%.

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.