Desjardins Analysts Increase Earnings Estimates for Stantec

Stantec Inc. (NYSE:STN - Free Report) TSE: STN - Investment analysts at Desjardins increased their FY2024 earnings per share (EPS) estimates for Stantec in a report released on Sunday, November 10th. Desjardins analyst B. Poirier now anticipates that the business services provider will earn $3.08 per share for the year, up from their previous forecast of $3.06. The consensus estimate for Stantec's current full-year earnings is $3.07 per share. Desjardins also issued estimates for Stantec's Q4 2024 earnings at $0.70 EPS.

Other equities analysts also recently issued reports about the stock. Canaccord Genuity Group upgraded shares of Stantec from a "hold" rating to a "buy" rating in a research note on Monday. StockNews.com downgraded shares of Stantec from a "buy" rating to a "hold" rating in a report on Friday. Canaccord Genuity Group raised shares of Stantec from a "hold" rating to a "buy" rating in a research report on Monday. Scotiabank assumed coverage on Stantec in a report on Friday, October 25th. They set a "sector outperform" rating for the company. Finally, Raymond James cut Stantec from a "moderate buy" rating to a "hold" rating in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy".

Stantec Stock Down 1.2 %

Shares of STN traded down $1.00 during mid-day trading on Tuesday, hitting $81.96. 32,232 shares of the company's stock were exchanged, compared to its average volume of 118,539. The company has a 50-day simple moving average of $81.35 and a 200 day simple moving average of $82.41. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.39 and a quick ratio of 1.39. The company has a market cap of $9.35 billion, a PE ratio of 37.71 and a beta of 1.02. Stantec has a 52 week low of $67.54 and a 52 week high of $88.42.

Institutional Trading of Stantec

Hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. raised its holdings in shares of Stantec by 4.8% during the third quarter. Advisors Asset Management Inc. now owns 42,310 shares of the business services provider's stock valued at $3,402,000 after purchasing an additional 1,926 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Stantec by 2.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,776,167 shares of the business services provider's stock valued at $142,817,000 after acquiring an additional 48,009 shares during the last quarter. Caprock Group LLC lifted its holdings in Stantec by 5.6% during the third quarter. Caprock Group LLC now owns 11,091 shares of the business services provider's stock valued at $894,000 after purchasing an additional 585 shares during the last quarter. Swiss National Bank lifted its stake in shares of Stantec by 0.8% during the 3rd quarter. Swiss National Bank now owns 344,970 shares of the business services provider's stock valued at $27,786,000 after buying an additional 2,700 shares in the last quarter. Finally, Cumberland Partners Ltd boosted its holdings in shares of Stantec by 1,013.6% in the third quarter. Cumberland Partners Ltd now owns 112,200 shares of the business services provider's stock worth $9,031,000 after acquiring an additional 102,125 shares during the period. Institutional investors and hedge funds own 63.86% of the company's stock.

Stantec Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Tuesday, December 31st. This is an increase from Stantec's previous quarterly dividend of $0.15. Stantec's dividend payout ratio (DPR) is currently 28.18%.

About Stantec

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.