What is Scotiabank’s Estimate for Stantec FY2024 Earnings?

Stantec Inc. (NYSE:STN) (TSE:STN) – Investment analysts at Scotiabank issued their FY2024 EPS estimates for shares of Stantec in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst J. Goldman anticipates that the business services provider will post earnings of $2.99 per share for the year. Scotiabank currently has a “Sector Outperform” rating on the stock. The consensus estimate for Stantec’s current full-year earnings is $3.09 per share. Scotiabank also issued estimates for Stantec’s FY2025 earnings at $3.35 EPS.

Several other brokerages have also commented on STN. Canaccord Genuity Group upgraded Stantec from a “hold” rating to a “buy” rating in a report on Monday, November 11th. StockNews.com upgraded Stantec from a “hold” rating to a “buy” rating in a research note on Saturday, November 16th. Finally, Canaccord Genuity Group raised Stantec from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Stantec Trading Up 1.1 %

NYSE:STN opened at $77.45 on Monday. The firm has a 50 day moving average of $82.12 and a 200 day moving average of $82.48. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.54. Stantec has a 52 week low of $74.98 and a 52 week high of $88.42. The stock has a market capitalization of $8.83 billion, a price-to-earnings ratio of 35.20 and a beta of 1.01.

Institutional Trading of Stantec

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STN. Stifel Financial Corp raised its stake in shares of Stantec by 3.1% in the third quarter. Stifel Financial Corp now owns 4,245 shares of the business services provider’s stock worth $341,000 after purchasing an additional 126 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Stantec by 12.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the business services provider’s stock worth $103,000 after buying an additional 129 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Stantec by 5.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,025 shares of the business services provider’s stock worth $324,000 after buying an additional 196 shares during the last quarter. US Bancorp DE lifted its stake in Stantec by 30.3% during the 3rd quarter. US Bancorp DE now owns 2,122 shares of the business services provider’s stock valued at $171,000 after acquiring an additional 493 shares during the period. Finally, Caprock Group LLC boosted its holdings in shares of Stantec by 5.6% in the 3rd quarter. Caprock Group LLC now owns 11,091 shares of the business services provider’s stock valued at $894,000 after acquiring an additional 585 shares during the last quarter. Institutional investors and hedge funds own 63.86% of the company’s stock.

Stantec Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.155 per share. This is an increase from Stantec’s previous quarterly dividend of $0.15. This represents a $0.62 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Tuesday, December 31st. Stantec’s payout ratio is presently 26.36%.

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.