$692.86 Million in Sales Expected for Stantec Inc. (NYSE:STN) This Quarter
Equities analysts expect Stantec Inc. (NYSE:STN) (TSE:STN) to announce sales of $692.86 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Stantec’s earnings. The highest sales estimate is $694.13 million and the lowest is $691.58 million. Stantec posted sales of $690.05 million during the same quarter last year, which would indicate a positive year over year growth rate of 0.4%. The company is scheduled to report its next quarterly earnings results on Thursday, November 14th.
According to Zacks, analysts expect that Stantec will report full year sales of $2.75 billion for the current fiscal year, with estimates ranging from $2.73 billion to $2.78 billion. For the next year, analysts anticipate that the business will report sales of $2.87 billion, with estimates ranging from $2.81 billion to $2.94 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Stantec.
A number of research analysts have recently weighed in on the company. Raymond James reiterated a “hold” rating and set a $34.50 price target on shares of Stantec in a report on Friday, August 9th. CIBC reiterated a “hold” rating and set a $35.00 price target on shares of Stantec in a report on Friday, August 9th. BMO Capital Markets lowered their price target on Stantec from $39.00 to $37.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Finally, Zacks Investment Research downgraded Stantec from a “buy” rating to a “hold” rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $33.90.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.11 per share. This is an increase from Stantec’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.07%. Stantec’s payout ratio is currently 30.71%.
Several hedge funds have recently modified their holdings of STN. Dimensional Fund Advisors LP lifted its stake in Stantec by 3.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 143,711 shares of the business services provider’s stock worth $3,142,000 after purchasing an additional 5,008 shares during the last quarter. Geode Capital Management LLC purchased a new stake in Stantec during the fourth quarter worth approximately $226,000. Legal & General Group Plc lifted its stake in Stantec by 89.7% during the fourth quarter. Legal & General Group Plc now owns 55,142 shares of the business services provider’s stock worth $1,207,000 after purchasing an additional 26,074 shares during the last quarter. Norges Bank purchased a new stake in Stantec during the fourth quarter worth approximately $33,961,000. Finally, Beutel Goodman & Co Ltd. purchased a new stake in Stantec during the first quarter worth approximately $27,000. Institutional investors and hedge funds own 65.20% of the company’s stock.
Stantec Company Profile
Stantec Inc provides professional consulting services in the area of infrastructure and facilities for clients in the public and private sectors in Canada, the United States, and internationally. It operates through three segments: Consulting Services Canada, Consulting Services United States, and Consulting Services Global.
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