FY2024 Earnings Forecast for Stantec Issued By Raymond James

Stantec Inc. (NYSE:STN) (TSE:STN) – Raymond James dropped their FY2024 earnings estimates for Stantec in a research note issued to investors on Tuesday, January 21st. Raymond James analyst F. Bastien now anticipates that the business services provider will post earnings of $2.97 per share for the year, down from their prior estimate of $3.10. The consensus estimate for Stantec’s current full-year earnings is $3.07 per share. Raymond James also issued estimates for Stantec’s Q4 2024 earnings at $0.66 EPS, Q2 2025 earnings at $0.87 EPS, Q4 2025 earnings at $0.82 EPS, Q3 2026 earnings at $1.15 EPS and Q4 2026 earnings at $1.00 EPS.

STN has been the subject of several other reports. Canaccord Genuity Group raised shares of Stantec from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Scotiabank began coverage on Stantec in a research note on Friday, October 25th. They issued a “sector outperform” rating on the stock. StockNews.com raised shares of Stantec from a “hold” rating to a “buy” rating in a research note on Saturday, November 16th. Finally, Canaccord Genuity Group raised shares of Stantec from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Two research analysts have rated the stock with a hold rating and four have assigned 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

NYSE:STN opened at $80.92 on Thursday. The firm has a market cap of $9.23 billion, a price-to-earnings ratio of 36.78 and a beta of 1.01. Stantec has a 12-month low of $74.98 and a 12-month high of $88.42. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.54. The company’s 50-day moving average is $81.40 and its two-hundred day moving average is $82.19.

Stantec (NYSE:STN) (TSE:STN) last issued its quarterly earnings data on Thursday, November 7th. The business services provider reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.05. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.12 billion. Stantec had a return on equity of 16.57% and a net margin of 4.78%. During the same period in the prior year, the business earned $0.85 earnings per share.

Stantec Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date was Tuesday, December 31st. This is an increase from Stantec’s previous quarterly dividend of $0.15. Stantec’s payout ratio is 26.36%.

Institutional Trading of Stantec

A number of institutional investors have recently modified their holdings of STN. Northwestern Mutual Wealth Management Co. acquired a new stake in Stantec in the 2nd quarter valued at $71,000. Blue Trust Inc. grew its stake in shares of Stantec by 802.8% in the third quarter. Blue Trust Inc. now owns 975 shares of the business services provider’s stock valued at $81,000 after buying an additional 867 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings 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 valued at $103,000 after buying an additional 129 shares during the period. US Bancorp DE raised its holdings in shares of Stantec by 30.3% during the 3rd quarter. US Bancorp DE now owns 2,122 shares of the business services provider’s stock valued at $171,000 after buying an additional 493 shares during the period. Finally, First Trust Direct Indexing L.P. acquired a new position in Stantec during the 3rd quarter worth approximately $211,000. Hedge funds and other institutional investors 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.