Desjardins Has Positive Outlook for Stantec FY2024 Earnings

Stantec Inc. (NYSE:STN) (TSE:STN) – Investment analysts at Desjardins raised their FY2024 earnings per share estimates for shares of Stantec in a research report issued to clients and investors on Sunday, November 10th. Desjardins analyst B. Poirier now forecasts that the business services provider will post earnings per share of $3.08 for the year, up from their prior forecast 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.

Other research analysts also recently issued reports about the stock. Canaccord Genuity Group raised shares of Stantec from a “hold” rating to a “buy” rating in a research report on Monday. StockNews.com downgraded shares of Stantec from a “buy” rating to a “hold” rating in a research report on Friday. Raymond James lowered shares of Stantec from a “moderate buy” rating to a “hold” rating in a research report on Thursday, August 8th. Canaccord Genuity Group upgraded Stantec from a “hold” rating to a “buy” rating in a report on Monday. Finally, Scotiabank began coverage on shares of Stantec in a report on Friday, October 25th. They set a “sector outperform” rating for the company. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Stantec presently has an average rating of “Moderate Buy”.

Stantec Price Performance

STN stock opened at $82.96 on Tuesday. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $9.46 billion, a P/E ratio of 37.71 and a beta of 1.02. The business has a 50 day simple moving average of $81.35 and a 200-day simple moving average of $82.41. Stantec has a twelve month low of $67.54 and a twelve month high of $88.42.

Stantec Increases Dividend

The company also recently disclosed 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 an increase from Stantec’s previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, December 31st. This represents a $0.62 annualized dividend and a dividend yield of 0.75%. Stantec’s dividend payout ratio is presently 28.18%.

Institutional Trading of Stantec

A number of hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its stake 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 worth $103,000 after purchasing an additional 129 shares during the period. Assenagon Asset Management S.A. grew its holdings in Stantec by 5.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,025 shares of the business services provider’s stock valued at $324,000 after buying an additional 196 shares during the period. Legacy Capital Group California Inc. increased its stake in shares of Stantec by 6.8% during the 2nd quarter. Legacy Capital Group California Inc. now owns 3,298 shares of the business services provider’s stock valued at $276,000 after acquiring an additional 211 shares during the last quarter. Pembroke Management LTD lifted its holdings in shares of Stantec by 4.7% during the 1st quarter. Pembroke Management LTD now owns 7,599 shares of the business services provider’s stock worth $631,000 after acquiring an additional 342 shares during the period. Finally, US Bancorp DE lifted 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 worth $171,000 after acquiring an additional 493 shares during the period. 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.