August 4, 2016 Stantec Earnings

Stantec is down 6% to $30.65 after releasing earnings that were lower than last year. The market may be over reacting. Earnings are lower mostly due to costs associated with their recent very large acquisition although as well due to some problems on several of their projects. I have not yet looked at the full earnings report but I am inclined to add somewhat to my position at this price and then see where the market settles out as it digests the news. Stantec’s latest large acquisition could result in significant earnings growth in the next few years.