Stantec Inc. to Post Q1 2024 Earnings of $0.90 Per Share, Desjardins Forecasts (TSE:STN)

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

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

STN has been the topic of several other research reports. Stifel Nicolaus raised their price objective on shares of Stantec from C$120.00 to C$130.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. BMO Capital Markets lifted their price objective on Stantec from C$126.00 to C$127.00 and gave the company an “outperform” rating in a report on Wednesday. CIBC lifted their price objective on Stantec from C$116.00 to C$120.00 and gave the company an “outperform” rating in a report on Friday, March 1st. National Bankshares lifted their price objective on Stantec from C$116.00 to C$126.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Finally, Royal Bank of Canada lifted their price objective on Stantec from C$121.00 to C$123.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$120.23.

Stantec Trading Up 0.4 %

Shares of Stantec stock opened at C$111.36 on Wednesday. The company’s fifty day simple moving average is C$112.44 and its 200-day simple moving average is C$104.14. The company has a market cap of C$12.70 billion, a price-to-earnings ratio of 37.37, a PEG ratio of 1.46 and a beta of 0.87. The company has a current ratio of 1.41, a quick ratio of 1.46 and a debt-to-equity ratio of 62.82. Stantec has a 1 year low of C$77.00 and a 1 year high of C$118.39.

Stantec Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.75%. This is a boost from Stantec’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, March 27th. Stantec’s dividend payout ratio is presently 28.19%.

Insider Buying and Selling

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

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.