Cormark Comments on Shawcor Ltd’s Q3 2017 Earnings (SCL)
Shawcor Ltd (TSE:SCL) – Analysts at Cormark lowered their Q3 2017 earnings estimates for shares of Shawcor in a note issued to investors on Friday. Cormark analyst J. Zhang now anticipates that the company will post earnings per share of $0.40 for the quarter, down from their previous forecast of $0.47. Cormark also issued estimates for Shawcor’s Q4 2017 earnings at $0.51 EPS, FY2017 earnings at $1.35 EPS, Q1 2018 earnings at $0.54 EPS and Q2 2018 earnings at $0.26 EPS.
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Other analysts have also recently issued reports about the company. BMO Capital Markets lowered their target price on Shawcor from C$42.00 to C$36.00 in a research note on Monday, August 14th. Royal Bank Of Canada lowered their target price on Shawcor from C$40.00 to C$38.00 and set a “sector perform” rating for the company in a research note on Thursday, May 11th. National Bank Financial cut Shawcor from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from C$40.00 to C$27.00 in a research note on Monday, June 26th. Finally, Industrial Alliance Securities raised Shawcor from a “buy” rating to a “strong-buy” rating and set a C$41.00 target price for the company in a research note on Monday, May 29th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of C$36.80.
Shares of Shawcor (TSE SCL) opened at 24.52 on Monday. Shawcor has a 52-week low of $24.20 and a 52-week high of $39.95. The stock has a 50 day moving average of $26.77 and a 200 day moving average of $32.29. The firm’s market capitalization is $1.71 billion.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Thursday, August 31st will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $0.60 annualized dividend and a dividend yield of 2.45%.
Shawcor Company Profile
ShawCor Ltd., an energy services company, provides products and services for the pipeline, pipe services, petrochemical, and industrial segments of the energy industry worldwide. The company operates in two segments, Pipeline and Pipe Services, and Petrochemical and Industrial. Its Bredero Shaw division offers pipe coating, lining, and insulation products; and Canusa-CPS division manufactures heat shrinkable sleeves, adhesives, and liquid coatings for pipeline joint protection applications.
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