Scotiabank cuts Stantec stock target to C$124 from C$129

Published on 10/18/2026 at 12:34 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Stantec posted adjusted EPS of C$1.61 in the second quarter, up 18.4 percent year over year. The 18.7 percent margin frames Stantec stock.

Analyst target and operating momentum

Scotiabank cut its Stantec target to C$124 from C$129 on October 15, 2026.
Second-quarter net revenue reached USD 1.8 billion, up 12 percent year over year.
Stantec raised its full-year adjusted EBITDA margin outlook to 17.8 percent to 18.3 percent.
Next earnings are scheduled for November 12, 2026.

STN, CA85472N1096, Illustration mit AI erstellt.

Stantec (ISIN CA85472N1096) saw Scotiabank cut its price target from C$129 to C$124 on October 15, 2026, while retaining an Outperform rating, according to Markets Insider. The move followed Stantec's second-quarter results and leaves the analyst view below the earlier C$129 target.

Second-quarter growth reaches 12 percent

Stantec reported USD 1.8 billion of net revenue for the second quarter of fiscal 2026, up 12 percent from the same quarter a year earlier, according to Benzinga. Adjusted earnings per share rose 18.4 percent to C$1.61, while the adjusted EBITDA margin reached 18.7 percent, 90 basis points above the second quarter of fiscal 2025.

The operating picture was uneven by region. Global organic net revenue growth was about 13 percent, while Canada delivered 2.4 percent organic growth in the quarter. Contract backlog reached USD 9.2 billion, up 17.5 percent year over year, giving the company a quantified base for future project conversion.

What does the 18.7 percent margin mean?

Management raised its full-year adjusted EBITDA margin guidance to 17.8 percent to 18.3 percent, compared with the prior outlook, according to ScanX. The same release described 8.5 percent to 11.5 percent expected full-year net revenue growth and 15 percent to 18 percent adjusted earnings-per-share growth. For investors, the margin range is the clearest operating counterweight to the lower Scotiabank target.

Dates for results and buyback

Stantec's next earnings report is scheduled for November 12, 2026, according to Earnings Today. The expanded normal course issuer bid runs through March 11, 2027, with a maximum of 5,703,349 shares, according to ScanX.

Backlog remains the key support

The USD 9.2 billion backlog and 17.5 percent annual increase provide the main operational support for Stantec's 2026 targets, while the regional split shows why execution remains important. The company combines infrastructure, water, buildings and environmental consulting across Canada, the United States and international markets. The further course of trading is shown by the continuously updated real-time quote of Stantec stock.