Atb Cap Markets Weighs in on Stantec Inc.’s Q1 2024 Earnings (NYSE:STN)

Stantec Inc. (NYSE:STN) (TSE:STN) – Analysts at Atb Cap Markets decreased their Q1 2024 earnings per share (EPS) estimates for shares of Stantec in a research report issued on Wednesday, May 1st. Atb Cap Markets analyst C. Murray now anticipates that the business services provider will post earnings per share of $0.64 for the quarter, down from their prior 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 Price Performance

Shares of NYSE STN opened at $84.43 on Monday. The company has a 50 day simple moving average of $82.64 and a two-hundred day simple moving average of $78.04. Stantec has a fifty-two week low of $56.49 and a fifty-two 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. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.41 and a current ratio of 1.41.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STN. Cambridge Investment Research Advisors Inc. boosted its position in Stantec by 17.3% in 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 grew its position in 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 valued at $12,134,000 after buying an additional 126,274 shares during the period. Calamos Wealth Management LLC purchased a new stake in Stantec during the third quarter valued at approximately $1,330,000. TD Asset Management Inc raised its position in 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 worth $81,058,000 after acquiring an additional 91,021 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new position in Stantec in the third quarter worth approximately $15,499,000. Institutional investors own 63.86% of the company’s stock.

Stantec Increases Dividend

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