Q1 2024 EPS Estimates for Stantec Inc. Reduced by Atb Cap Markets (NYSE:STN)

Stantec Inc. (NYSE:STN) (TSE:STN) – Stock analysts at Atb Cap Markets cut their Q1 2024 earnings per share estimates for Stantec in a report released on Wednesday, May 1st. Atb Cap Markets analyst C. Murray now forecasts that the business services provider will post earnings of $0.64 per share for the quarter, down from their prior estimate of $0.74. Atb Cap Markets currently has a “Sector Perform” rating on the stock. The consensus estimate for Stantec’s current full-year earnings is $3.14 per share. Atb Cap Markets also issued estimates for Stantec’s Q2 2024 earnings at $0.85 EPS, FY2024 earnings at $3.12 EPS, Q4 2025 earnings at $0.77 EPS and FY2025 earnings at $3.43 EPS.

Stantec (NYSE:STN) (TSE:STN) last posted its quarterly earnings results on Wednesday, February 28th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $891.12 million.

Stantec Price Performance

Stantec stock opened at $85.35 on Monday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.36. The company has a fifty day simple moving average of $82.65 and a 200-day simple moving average of $77.88. The stock has a market cap of $9.74 billion, a P/E ratio of 38.80 and a beta of 1.05. Stantec has a 12-month low of $56.49 and a 12-month high of $87.53.

Hedge Funds Weigh In On Stantec

Hedge funds have recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Stantec in the 3rd quarter valued at $26,000. UniSuper Management Pty Ltd purchased a new stake in shares of Stantec in the third quarter valued at about $52,000. Tobam acquired a new stake in shares of Stantec during the first quarter worth about $153,000. Quantbot Technologies LP grew its holdings in shares of Stantec by 456.3% during the third quarter. Quantbot Technologies LP now owns 2,726 shares of the business services provider’s stock worth $177,000 after buying an additional 2,236 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in Stantec in the 4th quarter valued at about $214,000. Hedge funds and other institutional investors own 63.86% of the company’s stock.

Stantec Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $0.1548 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.73%. This is an increase from Stantec’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Wednesday, March 27th. Stantec’s dividend payout ratio (DPR) is 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.