Stantec (NYSE:STN) Releases FY 2024 Earnings Guidance

Stantec (NYSE:STN) (TSE:STN) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 3.120-3.170 for the period, compared to the consensus EPS estimate of 4.240. The company issued revenue guidance of $4.3 billion-$4.3 billion, compared to the consensus revenue estimate of $5.8 billion.

Stantec Stock Down 4.7 %

NYSE STN traded down $3.95 during trading on Friday, reaching $80.64. The company’s stock had a trading volume of 165,469 shares, compared to its average volume of 107,216. The business has a 50-day moving average price of $81.33 and a 200-day moving average price of $82.39. Stantec has a 1-year low of $62.91 and a 1-year high of $88.42. The stock has a market capitalization of $9.20 billion, a PE ratio of 36.65 and a beta of 1.02. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51.

Stantec (NYSE:STN) (TSE:STN) last issued its quarterly earnings data on Wednesday, August 7th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Stantec had a net margin of 4.78% and a return on equity of 16.36%. On average, research analysts forecast that Stantec will post 3.07 earnings per share for the current fiscal year.

Stantec Increases Dividend

The business 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 $0.155 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.77%. This is a boost from Stantec’s previous quarterly dividend of $0.15. Stantec’s payout ratio is currently 28.18%.

Analysts Set New Price Targets

STN has been the topic of a number of recent analyst reports. StockNews.com downgraded Stantec from a “buy” rating to a “hold” rating in a research note on Friday. Raymond James lowered shares of Stantec from a “moderate buy” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Scotiabank began coverage on shares of Stantec in a report on Friday, October 25th. They set a “sector outperform” rating for the company.

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.