Desjardins Comments on Stantec’s FY2024 Earnings (NYSE:STN)

Stantec Inc. (NYSE:STN) (TSE:STN) – Stock analysts at Desjardins raised their FY2024 earnings per share estimates for shares of Stantec in a research note issued to investors on Sunday, November 10th. Desjardins analyst B. Poirier now forecasts that the business services provider will post earnings of $3.08 per share for the year, up from their prior forecast of $3.06. The consensus estimate for Stantec’s current full-year earnings is $3.10 per share. Desjardins also issued estimates for Stantec’s Q4 2024 earnings at $0.70 EPS.

STN has been the subject of a number of other research reports. Raymond James lowered Stantec from a “moderate buy” rating to a “hold” rating in a research report on Thursday, August 8th. Canaccord Genuity Group raised shares of Stantec from a “hold” rating to a “buy” rating in a research report on Monday. Canaccord Genuity Group upgraded shares of Stantec from a “hold” rating to a “buy” rating in a report on Monday. Scotiabank began coverage on shares of Stantec in a report on Friday, October 25th. They set a “sector outperform” rating for the company. Finally, StockNews.com downgraded Stantec from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Stantec Price Performance

Shares of NYSE STN opened at $82.59 on Tuesday. Stantec has a 1 year low of $67.54 and a 1 year high of $88.42. The stock has a market capitalization of $9.42 billion, a P/E ratio of 37.54 and a beta of 1.02. The company’s 50-day moving average is $81.42 and its 200 day moving average is $82.41. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 1.39.

Institutional Trading of Stantec

Several large investors have recently modified their holdings of STN. Triad Wealth Partners LLC purchased a new position in shares of Stantec during the 2nd quarter worth $51,000. Northwestern Mutual Wealth Management Co. purchased a new position in Stantec during the second quarter valued at $71,000. Blue Trust Inc. grew its holdings in Stantec by 802.8% during the third quarter. Blue Trust Inc. now owns 975 shares of the business services provider’s stock valued at $81,000 after purchasing an additional 867 shares during the period. EverSource Wealth Advisors LLC increased its position in Stantec by 45.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,037 shares of the business services provider’s stock worth $83,000 after buying an additional 326 shares in the last quarter. Finally, UniSuper Management Pty Ltd raised its stake in shares of Stantec by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 1,600 shares of the business services provider’s stock worth $133,000 after buying an additional 800 shares during the period. Institutional investors own 63.86% of the company’s stock.

Stantec Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.62 annualized dividend and a yield of 0.75%. This is a boost from Stantec’s previous quarterly dividend of $0.15. Stantec’s dividend payout ratio (DPR) is currently 28.18%.

Stantec Company Profile

Stantec Inc provides professional services in the areas of infrastructure and facilities to the public and private sectors in Canada, the United States, and internationally. It offers evaluation, planning, and designing infrastructure solutions; solutions for sustainable water resources, planning, management, and infrastructure; environmental services; integrated architecture, engineering, interior design, and planning solutions for buildings; and energy and resources solutions.