Desjardins Issues Optimistic Forecast for Stantec Earnings

Stantec Inc. (TSE:STN) (NYSE:STN) – Desjardins boosted their FY2024 earnings per share estimates for shares of Stantec in a note issued to investors on Sunday, November 10th. Desjardins analyst B. Poirier now anticipates that the company will post earnings of $4.28 per share for the year, up from their prior estimate of $4.19. Desjardins also issued estimates for Stantec’s Q4 2024 earnings at $0.97 EPS, FY2025 earnings at $4.77 EPS and FY2026 earnings at $5.50 EPS.

A number of other equities analysts have also commented on STN. BMO Capital Markets raised their price target on Stantec from C$128.00 to C$131.00 in a report on Wednesday, July 24th. Stifel Nicolaus raised their price objective on shares of Stantec from C$130.00 to C$145.00 in a research report on Friday, October 4th. Scotiabank raised shares of Stantec to a “strong-buy” rating in a research note on Friday, October 25th. Raymond James cut shares of Stantec from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from C$125.00 to C$120.00 in a research note on Thursday, August 8th. Finally, Canaccord Genuity Group boosted their price target on shares of Stantec from C$125.00 to C$135.00 in a research report on Monday. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Stantec presently has a consensus rating of “Moderate Buy” and an average target price of C$124.33.

Stantec Stock Performance

Shares of STN stock opened at C$114.66 on Tuesday. Stantec has a 12 month low of C$92.40 and a 12 month high of C$122.57. The stock has a market capitalization of C$13.08 billion, a P/E ratio of 37.63, a PEG ratio of 1.46 and a beta of 0.82. The company has a current ratio of 1.39, a quick ratio of 1.46 and a debt-to-equity ratio of 80.74. The firm’s 50 day moving average is C$111.40 and its 200 day moving average is C$112.75.

Insider Buying and Selling

In other Stantec news, Director Vito Culmone purchased 2,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was acquired at an average cost of C$112.97 per share, for a total transaction of C$225,940.00. Insiders have acquired a total of 2,145 shares of company stock worth $241,711 in the last 90 days. 0.27% of the stock is owned by company insiders.

Stantec Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Tuesday, December 31st. Stantec’s payout ratio is currently 27.63%.

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.