Stantec Inc. Expected to Post Q3 2023 Earnings of $0.70 Per Share (NYSE:STN)

Posted by Defense World Staff on Aug 14th, 2023

Stantec Inc. (NYSE:STN – Free Report) (TSE:STN) – Equities researchers at Raymond James lowered their Q3 2023 earnings per share (EPS) estimates for shares of Stantec in a research report issued on Thursday, August 10th. Raymond James analyst F. Bastien now anticipates that the business services provider will earn $0.70 per share for the quarter, down from their prior forecast of $0.73. Raymond James currently has a “Outperform” rating on the stock. The consensus estimate for Stantec’s current full-year earnings is $2.63 per share. Raymond James also issued estimates for Stantec’s Q4 2023 earnings at $0.66 EPS, FY2023 earnings at $2.63 EPS, Q1 2024 earnings at $0.61 EPS, Q2 2024 earnings at $0.75 EPS, Q3 2024 earnings at $0.84 EPS and Q4 2024 earnings at $0.75 EPS.

Stantec (NYSE:STN – Get Free Report) (TSE:STN) last released its quarterly earnings data on Wednesday, August 9th. The business services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.04. Stantec had a return on equity of 16.29% and a net margin of 4.78%. The business had revenue of $952.03 million during the quarter, compared to analysts’ expectations of $915.79 million.

Several other brokerages also recently weighed in on STN. Atb Cap Markets downgraded Stantec from an “outperform” rating to a “sector perform” rating in a research note on Thursday, May 11th. StockNews.com started coverage on shares of Stantec in a research note on Thursday, May 18th. They set a “strong-buy” rating on the stock. Finally, Canaccord Genuity Group downgraded shares of Stantec from a “buy” rating to a “hold” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $76.40.

Read Our Latest Research Report on STN

Stantec Stock Performance

Shares of STN stock opened at $66.68 on Monday. The stock has a 50 day simple moving average of $65.23 and a 200-day simple moving average of $60.05. The company has a market cap of $7.40 billion, a price-to-earnings ratio of 33.68 and a beta of 0.92. The company has a current ratio of 1.47, a quick ratio of 1.48 and a debt-to-equity ratio of 0.60. Stantec has a 12-month low of $43.04 and a 12-month high of $69.02.

Hedge Funds Weigh In On Stantec

A number of hedge funds and other institutional investors have recently made changes to their positions in STN. Advisor Group Holdings Inc. acquired a new stake in Stantec in the 4th quarter valued at $26,000. US Bancorp DE lifted its holdings in shares of Stantec by 144.4% during the 1st quarter. US Bancorp DE now owns 765 shares of the business services provider’s stock worth $38,000 after acquiring an additional 452 shares during the period. EverSource Wealth Advisors LLC increased its position in Stantec by 1,067.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 642 shares of the business services provider’s stock worth $42,000 after purchasing an additional 587 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Stantec by 137.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 759 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 439 shares during the period. Finally, SJS Investment Consulting Inc. bought a new position in Stantec during the second quarter worth $82,000. 58.02% of the stock is owned by institutional investors.

Stantec Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a $0.147 dividend. The ex-dividend date is Thursday, September 28th. This is a boost from Stantec’s previous quarterly dividend of $0.14. This represents a $0.59 dividend on an annualized basis and a yield of 0.88%. Stantec’s dividend payout ratio (DPR) is presently 29.29%.

About Stantec

(Get Free Report)

Stantec Inc provides e professional services in the areas of infrastructure and facilities to the public and private sectors clients in Canada, the United States, and internationally. The company provides consulting services in engineering, architecture, interior design, landscape architecture, surveying, environmental sciences, project management, and project economics.