Desjardins Forecasts Stantec’s FY2024 Earnings (NYSE:STN)

Stantec Inc. (NYSE:STN) (TSE:STN) – Investment analysts at Desjardins lifted their FY2024 earnings per share estimates for Stantec in a research note issued on Sunday, November 10th. Desjardins analyst B. Poirier now expects that the business services provider will earn $3.08 per share for the year, up from their prior estimate 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.

Several other research firms also recently weighed in on STN. Canaccord Genuity Group upgraded Stantec from a “hold” rating to a “buy” rating in a research note on Monday. Raymond James cut Stantec from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 8th. StockNews.com lowered Stantec from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Canaccord Genuity Group upgraded shares of Stantec from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Scotiabank initiated coverage on shares of Stantec in a research note on Friday, October 25th. They set a “sector outperform” rating on the stock. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Stantec Stock Down 0.8 %

NYSE:STN opened at $82.30 on Tuesday. 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 firm’s 50-day moving average price is $81.37 and its 200-day moving average price is $82.41. The company has a market capitalization of $9.39 billion, a PE ratio of 37.41 and a beta of 1.02. Stantec has a 1-year low of $67.54 and a 1-year high of $88.42.

Institutional Investors Weigh In On Stantec

A number of institutional investors and hedge funds have recently bought and sold shares of STN. Vanguard Group Inc. raised its holdings in Stantec by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 4,344,568 shares of the business services provider’s stock valued at $360,773,000 after buying an additional 133,687 shares during the period. Bank of Montreal Can raised its stake in shares of Stantec by 15.1% in the second quarter. Bank of Montreal Can now owns 3,176,820 shares of the business services provider’s stock valued at $265,177,000 after acquiring an additional 415,993 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Stantec by 2.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,776,167 shares of the business services provider’s stock worth $142,817,000 after acquiring an additional 48,009 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Stantec by 175.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,266,214 shares of the business services provider’s stock worth $105,850,000 after purchasing an additional 806,869 shares during the period. Finally, National Bank of Canada FI grew its holdings in Stantec by 11.1% during the 2nd quarter. National Bank of Canada FI now owns 940,461 shares of the business services provider’s stock valued at $77,860,000 after purchasing an additional 93,823 shares during the last quarter. 63.86% of the stock is owned by institutional investors.

Stantec Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.155 per share. This is a boost from Stantec’s previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, December 31st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.75%. Stantec’s payout ratio is 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.