Stantec Inc. (NYSE:STN) to Post Q1 2024 Earnings of $0.66 Per Share, Desjardins Forecasts

Stantec Inc. (NYSE:STN) (TSE:STN) – Research analysts at Desjardins lowered their Q1 2024 earnings per share estimates for Stantec in a note issued to investors on Tuesday, April 23rd. Desjardins analyst B. Poirier now forecasts that the business services provider will post earnings per share of $0.66 for the quarter, down from their prior 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.

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 for the quarter, missing the consensus estimate of $0.63 by ($0.03). The company had revenue of $912.51 million for the quarter, compared to analyst estimates of $891.12 million. Stantec had a return on equity of 16.50% and a net margin of 5.11%.

Separately, Atb Cap Markets downgraded shares of Stantec from an “outperform” rating to a “sector perform” rating in a research note on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently 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 stock 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 fifty day moving average price of $82.81 and a two-hundred day moving average price of $76.82. Stantec has a one year low of $56.49 and a one year high of $87.53. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.41 and a quick ratio of 1.41.

Hedge Funds Weigh In On Stantec

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Stantec by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 4,210,881 shares of the business services provider’s stock valued at $337,671,000 after purchasing an additional 59,821 shares during the period. Fiera Capital Corp grew its stake in Stantec by 5.9% in the 3rd quarter. Fiera Capital Corp now owns 2,552,514 shares of the business services provider’s stock valued at $166,078,000 after buying an additional 142,842 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Stantec by 2.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,704,323 shares of the business services provider’s stock valued at $110,579,000 after acquiring an additional 37,642 shares during the period. Norges Bank acquired a new stake in Stantec during the fourth quarter worth approximately $109,514,000. Finally, TD Asset Management Inc boosted its holdings in shares of Stantec by 0.7% during the fourth quarter. TD Asset Management Inc now owns 1,252,366 shares of the business services provider’s stock worth $101,036,000 after acquiring an additional 8,860 shares during the period. 63.86% of the stock is owned by institutional investors.

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 paid a $0.1548 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from Stantec’s previous quarterly dividend of $0.14. Stantec’s dividend payout ratio is 25.91%.

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.