FY2024 Earnings Forecast for Stantec Issued By Scotiabank

Stantec Inc. (NYSE:STN) (TSE:STN) – Scotiabank issued their FY2024 earnings estimates for Stantec in a note issued to investors on Wednesday, January 8th. Scotiabank analyst J. Goldman forecasts that the business services provider will post earnings per share of $2.99 for the year. Scotiabank currently has a “Sector Outperform” rating on the stock. The consensus estimate for Stantec’s current full-year earnings is $3.09 per share. Scotiabank also issued estimates for Stantec’s FY2025 earnings at $3.35 EPS.

STN has been the subject of several other research reports. Canaccord Genuity Group upgraded shares of Stantec from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. StockNews.com raised Stantec from a “hold” rating to a “buy” rating in a research note on Saturday, November 16th. Finally, Canaccord Genuity Group upgraded Stantec from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Stantec has a consensus rating of “Moderate Buy”.

Stantec Stock Down 1.0 %

Shares of NYSE:STN opened at $76.18 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market cap of $8.69 billion, a P/E ratio of 34.63 and a beta of 1.01. Stantec has a 1-year low of $75.57 and a 1-year high of $88.42. The firm has a fifty day moving average price of $82.24 and a 200 day moving average price of $82.54.

Stantec Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.81%. This is a positive change from Stantec’s previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, December 31st. Stantec’s payout ratio is 28.18%.

Institutional Investors Weigh In On Stantec

A number of hedge funds have recently added to or reduced their stakes in the company. Forsta AP Fonden lifted its holdings in Stantec by 145.3% in the second quarter. Forsta AP Fonden now owns 36,800 shares of the business services provider’s stock valued at $3,080,000 after acquiring an additional 21,800 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Stantec by 14.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 215,049 shares of the business services provider’s stock valued at $17,968,000 after purchasing an additional 27,060 shares in the last quarter. Intech Investment Management LLC lifted its stake in shares of Stantec by 301.8% in the second quarter. Intech Investment Management LLC now owns 11,255 shares of the business services provider’s stock valued at $942,000 after purchasing an additional 8,454 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Stantec by 12.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the business services provider’s stock worth $103,000 after buying an additional 129 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new position in Stantec during the second quarter worth about $276,000. Institutional investors and hedge funds own 63.86% of the company’s stock.

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.