Wall Street brokerages forecast that Stantec Inc. (NYSE:STN) (TSE:STN) will announce sales of $692.86 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Stantec’s earnings, with estimates ranging from $691.58 million to $694.13 million. Stantec posted sales of $690.05 million in the same quarter last year, which suggests a positive year over year growth rate of 0.4%. The business is expected to report its next earnings results on Thursday, November 14th.
On average, analysts expect that Stantec will report full-year sales of $2.75 billion for the current financial year, with estimates ranging from $2.73 billion to $2.78 billion. For the next financial year, analysts expect that the firm will post sales of $2.87 billion, with estimates ranging from $2.81 billion to $2.94 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Stantec.
A number of research analysts recently issued reports on STN shares. Raymond James reiterated a “hold” rating and issued a $34.50 price target on shares of Stantec in a research note on Friday, August 9th. BMO Capital Markets decreased their price target on shares of Stantec from $39.00 to $37.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. CIBC reiterated a “hold” rating and issued a $35.00 price target on shares of Stantec in a research note on Friday, August 9th. Finally, Zacks Investment Research cut shares of Stantec from a “buy” rating to a “hold” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $33.90.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.44 dividend on an annualized basis and a yield of 2.07%. This is a boost from Stantec’s previous quarterly dividend of $0.11. Stantec’s dividend payout ratio (DPR) is presently 30.71%.
Hedge funds have recently added to or reduced their stakes in the business. Beutel Goodman & Co Ltd. acquired a new position in Stantec in the 1st quarter valued at $27,000. Weaver Consulting Group bought a new stake in Stantec during the 1st quarter valued at $88,000. Aperio Group LLC bought a new stake in Stantec during the 2nd quarter valued at $147,000. Geode Capital Management LLC bought a new position in shares of Stantec in the fourth quarter worth $226,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Stantec in the second quarter worth $394,000. 65.20% of the stock is currently owned by institutional investors.
Stantec Company Profile
Stantec Inc provides professional consulting services in the area of infrastructure and facilities for clients in the public and private sectors in Canada, the United States, and internationally. It operates through three segments: Consulting Services Canada, Consulting Services United States, and Consulting Services Global.
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