Stantec Inc. (STN) to Issue Quarterly Dividend of $0.10 on October 12th
Stantec Inc. (NYSE:STN) (TSE:STN) announced a quarterly dividend on Wednesday, August 9th, Zacks reports. Shareholders of record on Friday, September 29th will be given a dividend of 0.10 per share by the business services provider on Thursday, October 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Thursday, September 28th. This is an increase from Stantec’s previous quarterly dividend of $0.09.
Stantec has raised its dividend payment by an average of 2.1% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Stantec has a payout ratio of 31.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Stantec to earn $1.86 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 26.9%.
Stantec (STN) remained flat at $28.05 during mid-day trading on Friday. 11,508 shares of the stock traded hands. Stantec has a 1-year low of $21.50 and a 1-year high of $28.55. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of 32.85 and a beta of 1.58. The company has a 50-day moving average of $26.94 and a 200 day moving average of $25.43.
Stantec (NYSE:STN) (TSE:STN) last posted its earnings results on Wednesday, August 9th. The business services provider reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.03. Stantec had a net margin of 2.31% and a return on equity of 10.67%. The company had revenue of $891.49 million for the quarter, compared to analyst estimates of $902.78 million. During the same quarter in the prior year, the business posted $0.37 EPS. The firm’s revenue was up 14.7% compared to the same quarter last year. Equities analysts predict that Stantec will post $1.59 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on the stock. BidaskClub lowered shares of Stantec from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. TheStreet upgraded shares of Stantec from a “c” rating to a “b-” rating in a research note on Monday, August 14th. Finally, Zacks Investment Research upgraded shares of Stantec from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Tuesday, August 15th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $32.20.
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Stantec Inc is a provider of professional services in the area of infrastructure and facilities for clients in the public and private sectors. The Company’s operates through four segments Consulting Services-Canada, Consulting Services-United States, Consulting Services-Global and Construction Services.
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