Stantec (NYSE:STN) Updates FY 2024 Earnings Guidance

Stantec (NYSE:STN) (TSE:STN) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 3.120-3.170 for the period, compared to the consensus earnings per share estimate of 4.240. The company issued revenue guidance of $4.3 billion-$4.3 billion, compared to the consensus revenue estimate of $5.8 billion.

Stantec Trading Down 4.7 %

NYSE:STN traded down $3.95 during trading hours on Friday, hitting $80.64. 165,469 shares of the stock were exchanged, compared to its average volume of 107,216. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.51. Stantec has a twelve month low of $62.91 and a twelve month high of $88.42. The company has a market capitalization of $9.20 billion, a P/E ratio of 36.65 and a beta of 1.02. The company’s 50 day moving average is $81.33 and its two-hundred day moving average is $82.39.

Stantec (NYSE:STN) (TSE:STN) last released its earnings results on Wednesday, August 7th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. Stantec had a net margin of 4.78% and a return on equity of 16.36%. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. On average, sell-side analysts anticipate that Stantec will post 3.07 earnings per share for the current fiscal year.

Stantec Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.155 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.77%. This is an increase from Stantec’s previous quarterly dividend of $0.15. Stantec’s dividend payout ratio is 28.18%.

Wall Street Analysts Forecast Growth

STN has been the subject of several analyst reports. StockNews.com lowered Stantec from a “buy” rating to a “hold” rating in a research report on Friday. Raymond James cut Stantec from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Scotiabank assumed coverage on Stantec in a research report on Friday, October 25th. They set a “sector outperform” rating on the stock.

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.