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Stantec's (STN) Stock Skyrockets 60% in a Year: Here's Why
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Stantec Inc. (STN - Free Report) has had an impressive run in the past year. The stock has gained 59.6%, outperforming the 25.4% rally of the industry it belongs to and the 22.3% rise of the Zacks S&P 500 composite.
Factors That Augur Well
Stantec is benefiting from a strong demand environment across its businesses. All of its regional and business operating units delivered organic revenue growth for the seventh consecutive quarter in the third quarter of 2023.
Acquisition is a key growth strategy for Stantec, through which it brings in diversified offerings to enhance its existing businesses and widen its regional footprint. The recent acquisition of Environmental Systems Design significantly expanded the company’s mechanical, electrical and plumbing and structural engineering practices. It boosted Stantec’s smart building engineering capabilities. Another acquisition, L2P, has strengthened the company’s science and technology and commercial workplace offerings.
Commitment to shareholder returns makes Stantec a reliable way for investors to compound wealth over the long term. The company paid $78.2 million, $72.3 million and $68 million in dividends in 2022, 2021 and 2020, respectively. It repurchased shares worth 65.3 million, $50.7 million and $78.3 million, respectively, in 2022, 2021 and 2020.
Zacks Rank and Stocks to Consider
Stantec currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the broader Business Service sector.
Gartner (IT - Free Report) :TheZacks Consensus Estimate for Gartner’s 2023 revenues indicates 7.9% growth from the year-ago reported figure. Its earnings are expected to decline 1.9% year over year. The company beat the consensus estimate in each of the four quarters, with the average surprise being 34.4%.
Broadridge Financial Solutions (BR - Free Report) :The Zacks Consensus Estimate for Broadridge’s fiscal 2024 revenues indicates 7.7% growth from the year-ago figure. Its earnings are expected to grow 10.1% year over year. The company beat the consensus estimate in three of the past four quarters and matched once, with the average surprise being 5.4%.
BR currently carries a Zacks Rank of 2 (Buy).
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Stantec's (STN) Stock Skyrockets 60% in a Year: Here's Why
Stantec Inc. (STN - Free Report) has had an impressive run in the past year. The stock has gained 59.6%, outperforming the 25.4% rally of the industry it belongs to and the 22.3% rise of the Zacks S&P 500 composite.
Factors That Augur Well
Stantec is benefiting from a strong demand environment across its businesses. All of its regional and business operating units delivered organic revenue growth for the seventh consecutive quarter in the third quarter of 2023.
Stantec Inc. Price
Stantec Inc. price | Stantec Inc. Quote
Acquisition is a key growth strategy for Stantec, through which it brings in diversified offerings to enhance its existing businesses and widen its regional footprint. The recent acquisition of Environmental Systems Design significantly expanded the company’s mechanical, electrical and plumbing and structural engineering practices. It boosted Stantec’s smart building engineering capabilities. Another acquisition, L2P, has strengthened the company’s science and technology and commercial workplace offerings.
Commitment to shareholder returns makes Stantec a reliable way for investors to compound wealth over the long term. The company paid $78.2 million, $72.3 million and $68 million in dividends in 2022, 2021 and 2020, respectively. It repurchased shares worth 65.3 million, $50.7 million and $78.3 million, respectively, in 2022, 2021 and 2020.
Zacks Rank and Stocks to Consider
Stantec currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the broader Business Service sector.
Gartner (IT - Free Report) :TheZacks Consensus Estimate for Gartner’s 2023 revenues indicates 7.9% growth from the year-ago reported figure. Its earnings are expected to decline 1.9% year over year. The company beat the consensus estimate in each of the four quarters, with the average surprise being 34.4%.
IT sports a Zacks Rank of 1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Broadridge Financial Solutions (BR - Free Report) :The Zacks Consensus Estimate for Broadridge’s fiscal 2024 revenues indicates 7.7% growth from the year-ago figure. Its earnings are expected to grow 10.1% year over year. The company beat the consensus estimate in three of the past four quarters and matched once, with the average surprise being 5.4%.
BR currently carries a Zacks Rank of 2 (Buy).