The SGX-listed Singapore Technologies Engineering Ltd. or ST Engineering (SG:S63) offers a dividend yield of 4.08%, above the industry average of 1.64%. ST Engineering is a global conglomerate specializing in technology, defense, and engineering services, serving clients in more than 100 countries across the globe.
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In terms of share price appreciation, analysts are bullish on the stock and predict an attractive upside. ST Engineering shares fell by 2.83% so far in 2024.
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Let’s take a look at the details.
ST Engineering’s Dividend
ST Engineering has a consistent history of delivering dividends to its shareholders. Starting in 2017, it has sustained an annual dividend of S$0.15 per share. In 2022, the annual dividend was raised from S$0.15 to S$0.16.
In 2023, the company declared three interim dividends of $0.04 each, with the most recent payment executed in December 2023. The company’s dividend is backed by strong financials.
ST Engineering’s revenue grew 12% to S$7.3 billion in the first three quarters of 2023. The company disclosed robust contract wins of $11.7 billion in the first three quarters of 2023. Also, its order book stood at $27.5 billion as of the end of Q3 2023.
Is ST Engineering a Good Buy Now?
Earlier in January, analyst Shawn Ng Jun Jie from J.P. Morgan reiterated his Buy rating on the stock. He also raised his price target from S$4.30 to S$4.60, now predicting a growth rate of 20%.
According to TipRanks, S63 stock has received a Strong Buy consensus rating based on all Buy recommendations from three analysts. The ST Engineering share price forecast is S$4.42, which implies an upside of 15.3% on the current trading levels.
