Desjardins Has Strong Forecast for Stantec FY2024 Earnings

Stantec Inc. (TSE:STN) (NYSE:STN) – Stock analysts at Desjardins increased their FY2024 EPS estimates for Stantec in a research report issued on Sunday, November 10th. Desjardins analyst B. Poirier now anticipates that the company will post earnings of $4.28 per share for the year, up from their prior estimate of $4.19. Desjardins also issued estimates for Stantec’s Q4 2024 earnings at $0.97 EPS, FY2025 earnings at $4.77 EPS and FY2026 earnings at $5.50 EPS.

A number of other equities analysts also recently issued reports on the company. BMO Capital Markets upped their price target on Stantec from C$128.00 to C$131.00 in a report on Wednesday, July 24th. Stifel Nicolaus boosted their price objective on shares of Stantec from C$130.00 to C$145.00 in a research report on Friday, October 4th. Canaccord Genuity Group increased their target price on shares of Stantec from C$125.00 to C$135.00 in a research report on Monday. Raymond James cut shares of Stantec from an “outperform” rating to a “market perform” rating and reduced their price target for the company from C$125.00 to C$120.00 in a research report on Thursday, August 8th. Finally, Scotiabank raised Stantec to a “strong-buy” rating in a report on Friday, October 25th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$124.33.

Stantec Trading Up 3.0 %

STN opened at C$115.55 on Tuesday. The company has a debt-to-equity ratio of 80.74, a quick ratio of 1.46 and a current ratio of 1.39. Stantec has a one year low of C$92.40 and a one year high of C$122.57. The company has a market cap of C$13.18 billion, a P/E ratio of 38.01, a PEG ratio of 1.46 and a beta of 0.82. The business’s 50-day simple moving average is C$111.32 and its 200-day simple moving average is C$112.71.

Insiders Place Their Bets

In related news, Director Vito Culmone purchased 2,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was acquired at an average price of C$112.97 per share, for a total transaction of C$225,940.00. In other news, Director Vito Culmone acquired 2,000 shares of Stantec stock in a transaction that occurred on Tuesday, August 20th. The stock was purchased at an average price of C$112.97 per share, for a total transaction of C$225,940.00. Also, Director Asifa Samji bought 300 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were acquired at an average price of C$109.75 per share, for a total transaction of C$32,925.00. Following the transaction, the director now directly owns 840 shares in the company, valued at C$92,190. This trade represents a 0.00 % increase in their position. In the last ninety days, insiders purchased 2,445 shares of company stock valued at $274,636. 0.27% of the stock is owned by company insiders.

Stantec Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Tuesday, December 31st. Stantec’s dividend payout ratio is presently 27.63%.

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.