Stantec (NYSE:STN) Updates FY 2024 Earnings Guidance

Stantec (NYSE:STN) (TSE:STN) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 3.120-3.170 for the period, compared to the consensus earnings per share 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.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on STN shares. StockNews.com downgraded Stantec from a “buy” rating to a “hold” rating in a research report on Friday. Scotiabank began coverage on Stantec in a research note on Friday, October 25th. They issued a “sector outperform” rating on the stock. Finally, Raymond James downgraded Stantec from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 8th.

Stantec Price Performance

Shares of STN stock traded down $3.95 on Friday, hitting $80.64. 165,469 shares of the stock traded hands, compared to its average volume of 107,216. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.39 and a quick ratio of 1.39. Stantec has a 52 week low of $62.91 and a 52 week high of $88.42. The firm has a 50 day simple moving average of $81.33 and a two-hundred day simple moving average of $82.39. The firm has a market cap of $9.20 billion, a price-to-earnings ratio of 36.65 and a beta of 1.02.

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

Stantec Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Stantec’s previous quarterly dividend of $0.15. Stantec’s dividend payout ratio (DPR) is 28.18%.

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.