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.
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.
