Analysts Set Expectations for Stantec FY2024 Earnings

Stantec Inc. (NYSE:STN - Free Report) TSE: STN - Analysts at National Bank Financial lowered their FY2024 earnings per share estimates for shares of Stantec in a research report issued to clients and investors on Tuesday, December 3rd. National Bank Financial analyst M. Sytchev now forecasts that the business services provider will post earnings per share of $3.05 for the year, down from their previous estimate of $3.10. The consensus estimate for Stantec's current full-year earnings is $3.09 per share.

STN has been the subject of several other research reports. Canaccord Genuity Group raised shares of Stantec from a "hold" rating to a "buy" rating in a research report on Monday, November 11th. Scotiabank began coverage on Stantec in a report on Friday, October 25th. They issued a "sector outperform" rating on the stock. Canaccord Genuity Group raised Stantec from a "hold" rating to a "buy" rating in a research report on Monday, November 11th. Finally, StockNews.com raised Stantec from a "hold" rating to a "buy" rating in a research report on Saturday, November 16th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy".

Stantec Stock Down 0.5 %

NYSE STN traded down $0.45 during trading hours on Friday, reaching $86.53. 81,110 shares of the company's stock were exchanged, compared to its average volume of 154,967. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.42 and a current ratio of 1.42. Stantec has a one year low of $74.62 and a one year high of $88.42. The company's 50-day moving average is $83.52 and its two-hundred day moving average is $82.81. The company has a market capitalization of $9.87 billion, a price-to-earnings ratio of 39.33 and a beta of 0.99.

Stantec Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.155 dividend. This is a positive change from Stantec's previous quarterly dividend of $0.15. This represents a $0.62 annualized dividend and a yield of 0.72%. The ex-dividend date is Tuesday, December 31st. Stantec's payout ratio is presently 28.18%.

Hedge Funds Weigh In On Stantec

Large investors have recently modified their holdings of the business. Triad Wealth Partners LLC bought a new position in shares of Stantec in the second quarter valued at $51,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Stantec in the second quarter valued at $71,000. Blue Trust Inc. grew its position in shares of Stantec by 802.8% in the 3rd quarter. Blue Trust Inc. now owns 975 shares of the business services provider's stock valued at $81,000 after acquiring an additional 867 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Stantec by 12.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the business services provider's stock worth $103,000 after purchasing an additional 129 shares during the last quarter. Finally, US Bancorp DE raised its holdings in shares of Stantec by 30.3% in the 3rd quarter. US Bancorp DE now owns 2,122 shares of the business services provider's stock valued at $171,000 after purchasing an additional 493 shares during the period. 63.86% of the stock is currently owned by institutional investors and hedge funds.

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.