FY2024 Earnings Forecast for Stantec Issued By Raymond James

Stantec Inc. (NYSE:STN) (TSE:STN) – Stock analysts at Raymond James dropped their FY2024 earnings per share estimates for shares of Stantec in a research note issued on Tuesday, January 21st. Raymond James analyst F. Bastien now forecasts that the business services provider will post earnings of $2.97 per share for the year, down from their previous 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.

A number of other equities analysts have also recently issued reports on STN. Canaccord Genuity Group upgraded Stantec from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Canaccord Genuity Group raised 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 report on Saturday, November 16th. Finally, Scotiabank assumed coverage on shares of Stantec in a research note on Friday, October 25th. They set a “sector outperform” rating for the company. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Stantec presently has an average rating of “Moderate Buy”.

Stantec Stock Performance

Shares of Stantec stock opened at $80.03 on Thursday. The business has a 50-day moving average price of $81.40 and a two-hundred day moving average price of $82.19. Stantec has a 1-year low of $74.98 and a 1-year 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 has a market cap of $9.13 billion, a P/E ratio of 36.38 and a beta of 1.01.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Stifel Financial Corp increased its stake in Stantec by 3.1% in the 3rd quarter. Stifel Financial Corp now owns 4,245 shares of the business services provider’s stock valued at $341,000 after buying an additional 126 shares during the last quarter. EverSource Wealth Advisors LLC lifted 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 acquiring an additional 129 shares during the period. Assenagon Asset Management S.A. boosted its position in Stantec by 5.1% in the third quarter. Assenagon Asset Management S.A. now owns 4,025 shares of the business services provider’s stock worth $324,000 after purchasing an additional 196 shares during the last quarter. US Bancorp DE grew its stake in 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. Finally, Caprock Group LLC increased its position in shares of Stantec by 5.6% during the 3rd quarter. Caprock Group LLC now owns 11,091 shares of the business services provider’s stock valued at $894,000 after purchasing an additional 585 shares during the last quarter. 63.86% of the stock is owned by institutional investors.

Stantec Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from Stantec’s previous quarterly dividend of $0.15. Stantec’s dividend payout ratio (DPR) is currently 26.36%.

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.