Q1 2024 EPS Estimates for Stantec Inc. (NYSE:STN) Cut by Analyst

Stantec Inc. (NYSE:STN) (TSE:STN) – Research analysts at Atb Cap Markets dropped their Q1 2024 earnings estimates for Stantec in a research report issued on Wednesday, May 1st. Atb Cap Markets analyst C. Murray now expects that the business services provider will post earnings per share of $0.64 for the quarter, down from their previous estimate of $0.74. Atb Cap Markets currently has a “Sector Perform” rating on the stock. The consensus estimate for Stantec’s current full-year earnings is $3.14 per share. Atb Cap Markets also issued estimates for Stantec’s Q2 2024 earnings at $0.85 EPS, FY2024 earnings at $3.12 EPS, Q4 2025 earnings at $0.77 EPS and FY2025 earnings at $3.43 EPS.

Stantec (NYSE:STN) (TSE:STN) last issued its quarterly earnings results on Wednesday, February 28th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.03). Stantec had a net margin of 5.11% and a return on equity of 16.50%. The firm had revenue of $912.51 million for the quarter, compared to the consensus estimate of $891.12 million.

Stantec Price Performance

NYSE:STN opened at $84.43 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.41 and a current ratio of 1.41. The company has a 50-day moving average of $82.64 and a 200-day moving average of $78.04. Stantec has a 52 week low of $56.49 and a 52 week high of $87.53. The company has a market capitalization of $9.63 billion, a price-to-earnings ratio of 38.38 and a beta of 1.05.

Stantec Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.1548 per share. This represents a $0.62 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Wednesday, March 27th. This is an increase from Stantec’s previous quarterly dividend of $0.14. Stantec’s dividend payout ratio (DPR) is 26.36%.

Institutional Investors Weigh In On Stantec

Several large investors have recently made changes to their positions in STN. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Stantec by 17.3% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 5,863 shares of the business services provider’s stock worth $380,000 after purchasing an additional 863 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Stantec by 207.8% during the third quarter. Bank of New York Mellon Corp now owns 187,043 shares of the business services provider’s stock worth $12,134,000 after purchasing an additional 126,274 shares in the last quarter. Calamos Wealth Management LLC bought a new stake in shares of Stantec during the third quarter valued at approximately $1,330,000. TD Asset Management Inc increased its holdings in shares of Stantec by 7.9% in the third quarter. TD Asset Management Inc now owns 1,243,506 shares of the business services provider’s stock valued at $81,058,000 after purchasing an additional 91,021 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new position in Stantec in the 3rd quarter worth approximately $15,499,000. Institutional investors own 63.86% of the company’s stock.

About Stantec

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.