Q1 2024 Earnings Estimate for Stantec Inc. Issued By Desjardins (NYSE:STN)

Stantec Inc. (NYSE:STN - Free Report) TSE: STN - Desjardins dropped their Q1 2024 earnings estimates for Stantec in a report released 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 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.

Separately, Atb Cap Markets cut shares of 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 assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $105.00.

Stantec Stock Performance

STN traded up $0.09 during trading on Wednesday, reaching $80.97. 154,820 shares of the company's stock were exchanged, compared to its average volume of 111,970. 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 1 year low of $56.49 and a 1 year high of $87.53. The company's fifty day simple moving average is $82.84 and its 200-day simple moving average is $76.80. The stock has a market capitalization of $9.24 billion, a P/E ratio of 36.80 and a beta of 1.04.

Stantec (NYSE:STN - Get Free Report) TSE: STN last announced its quarterly earnings data on Wednesday, February 28th. The business services provider reported $0.60 earnings per share 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 firm had revenue of $912.51 million during the quarter, compared to analyst estimates of $891.12 million.

Institutional Trading of Stantec

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Stantec by 1.5% in the third quarter. Vanguard Group Inc. now owns 4,151,060 shares of the business services provider's stock valued at $269,279,000 after buying an additional 59,589 shares in the last quarter. Calamos Wealth Management LLC acquired a new position in Stantec in the 3rd quarter worth about $1,330,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Stantec in the 3rd quarter worth about $15,499,000. Caldwell Investment Management Ltd. boosted its position in Stantec by 13.7% during the third quarter. Caldwell Investment Management Ltd. now owns 173,000 shares of the business services provider's stock worth $11,223,000 after purchasing an additional 20,900 shares in the last quarter. Finally, Barometer Capital Management Inc. grew its holdings in Stantec by 17.9% in the third quarter. Barometer Capital Management Inc. now owns 93,090 shares of the business services provider's stock valued at $6,039,000 after purchasing an additional 14,140 shares during the period. 63.86% of the stock is owned by hedge funds and other institutional investors.

Stantec Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.1548 per share. This represents a $0.62 annualized dividend and a dividend yield of 0.76%. This is a positive change from Stantec's previous quarterly dividend of $0.14. The ex-dividend date was Wednesday, March 27th. Stantec's payout ratio is 26.36%.

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.