Research Analysts Set Expectations for Stantec Inc.’s Q1 2024 Earnings (TSE:STN)

Stantec Inc. (TSE:STN) (NYSE:STN) – Equities research analysts at Desjardins reduced their Q1 2024 earnings per share (EPS) estimates for Stantec in a report issued on Tuesday, April 23rd. Desjardins analyst B. Poirier now forecasts that the company will earn $0.90 per share for the quarter, down from their previous forecast of $0.97. The consensus estimate for Stantec’s current full-year earnings is $4.25 per share.

Several other equities research analysts have also commented on the company. Canaccord Genuity Group upped their price target on Stantec from C$110.00 to C$120.00 and gave the stock a “hold” rating in a research note on Friday, March 1st. National Bankshares upped their target price on Stantec from C$116.00 to C$126.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Atb Cap Markets downgraded Stantec from an “outperform” rating to a “sector perform” rating in a research report on Thursday, February 29th. Royal Bank of Canada upped their target price on Stantec from C$121.00 to C$123.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Finally, TD Securities upped their target price on Stantec from C$125.00 to C$130.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$120.15.

Stantec Stock Performance

Shares of TSE:STN opened at C$110.58 on Wednesday. The firm has a market capitalization of C$12.61 billion, a PE ratio of 37.11, a P/E/G ratio of 1.46 and a beta of 0.87. The company has a debt-to-equity ratio of 62.82, a current ratio of 1.41 and a quick ratio of 1.46. The business has a 50-day moving average of C$112.47 and a two-hundred day moving average of C$104.04. Stantec has a 12 month low of C$77.00 and a 12 month high of C$118.39.

Stantec (TSE:STN) (NYSE:STN) last announced its quarterly earnings results on Wednesday, February 28th. The company reported C$0.82 EPS for the quarter, missing the consensus estimate of C$0.86 by C($0.04). The firm had revenue of C$1.24 billion for the quarter, compared to analyst estimates of C$1.22 billion. Stantec had a return on equity of 13.14% and a net margin of 6.54%.

Stantec Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.84 dividend on an annualized basis and a yield of 0.76%. This is an increase from Stantec’s previous quarterly dividend of $0.20. Stantec’s dividend payout ratio is currently 28.19%.

Insider Activity at Stantec

In related news, Director Steve Marvin Fleck sold 2,000 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of C$116.02, for a total value of C$232,040.00. 0.27% of the stock is currently owned by company insiders.

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.