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

Stantec Inc. (NYSE:STN) (TSE:STN) – Scotiabank issued their FY2024 earnings per share (EPS) estimates for shares of Stantec in a note issued to investors on Wednesday, January 8th. Scotiabank analyst J. Goldman anticipates that the business services provider will post earnings of $2.99 per share for the year. Scotiabank currently has a “Sector Outperform” rating on the stock. The consensus estimate for Stantec’s current full-year earnings is $3.09 per share. Scotiabank also issued estimates for Stantec’s FY2025 earnings at $3.35 EPS.

A number of other research analysts have also recently issued reports on STN. StockNews.com raised Stantec from a “hold” rating to a “buy” rating in a report on Saturday, November 16th. Canaccord Genuity Group raised shares of Stantec from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Finally, Canaccord Genuity Group raised shares of Stantec from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Stantec Price Performance

Stantec stock opened at $76.57 on Monday. The business’s fifty day moving average is $82.24 and its two-hundred day moving average is $82.54. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market cap of $8.73 billion, a P/E ratio of 34.80 and a beta of 1.01. Stantec has a 52 week low of $74.98 and a 52 week high of $88.42.

Institutional Trading of Stantec

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stifel Financial Corp boosted its stake in shares of 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 purchasing an additional 126 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Stantec by 12.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the business services provider’s stock valued at $103,000 after acquiring an additional 129 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Stantec by 5.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,025 shares of the business services provider’s stock worth $324,000 after acquiring an additional 196 shares during the period. US Bancorp DE grew its holdings in 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. Finally, Caprock Group LLC raised 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 acquiring an additional 585 shares during the last quarter. 63.86% of the stock is owned by institutional investors.

Stantec Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.155 dividend. 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 annualized dividend and a yield of 0.81%. 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.