Brokers Set Expectations for Stantec Inc.’s Q1 2024 Earnings (NYSE:STN)

Stantec Inc. (NYSE:STN) (TSE:STN) – Equities research analysts at Desjardins cut their Q1 2024 EPS estimates for Stantec in a note issued to investors on Tuesday, April 23rd. Desjardins analyst B. Poirier now anticipates that the business services provider will post earnings per share of $0.66 for the quarter, down from their previous estimate of $0.72. The consensus estimate for Stantec’s current full-year earnings is $3.15 per share. Desjardins also issued estimates for Stantec’s FY2026 earnings at $3.92 EPS.

Separately, Atb Cap Markets downgraded Stantec from an “outperform” rating to a “sector perform” rating in a report on Thursday, February 29th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Stantec has an average rating of “Moderate Buy” and an average target price of $105.00.

Stantec Stock Performance

Shares of STN stock opened at $81.50 on Wednesday. The firm has a market cap of $9.30 billion, a P/E ratio of 37.11 and a beta of 1.04. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.41 and a quick ratio of 1.41. Stantec has a fifty-two week low of $56.49 and a fifty-two week high of $87.53. The stock’s 50-day moving average is $82.81 and its two-hundred day moving average is $76.82.

Stantec (NYSE:STN) (TSE:STN) last posted its quarterly earnings results on Wednesday, February 28th. The business services provider reported $0.60 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.03). Stantec had a net margin of 5.11% and a return on equity of 16.50%. The company had revenue of $912.51 million for the quarter, compared to analysts’ expectations of $891.12 million.

Institutional Investors Weigh In On Stantec

Large investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Stantec in the fourth quarter worth $109,514,000. Clearbridge Investments LLC bought a new position in Stantec in the 4th quarter worth $24,553,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Stantec during the 3rd quarter worth $15,499,000. Goldman Sachs Group Inc. boosted its holdings in Stantec by 64.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 528,059 shares of the business services provider’s stock valued at $42,345,000 after acquiring an additional 206,421 shares during the period. Finally, CIBC Asset Management Inc increased its stake in shares of Stantec by 166.5% in the fourth quarter. CIBC Asset Management Inc now owns 284,686 shares of the business services provider’s stock worth $22,929,000 after purchasing an additional 177,882 shares during the period. Institutional investors own 63.86% of the company’s stock.

Stantec Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $0.1548 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.76%. This is a boost from Stantec’s previous quarterly dividend of $0.14. Stantec’s payout ratio is currently 25.91%.

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.