Cormark Brokers Cut Earnings Estimates for Shawcor Ltd (SCL)
Shawcor Ltd (TSE:SCL) – Investment analysts at Cormark cut their Q1 2018 earnings estimates for shares of Shawcor in a research report issued on Monday. Cormark analyst J. Zhang now anticipates that the company will post earnings of $0.59 per share for the quarter, down from their prior forecast of $0.78. Cormark also issued estimates for Shawcor’s Q3 2018 earnings at $0.36 EPS, Q4 2018 earnings at $0.37 EPS and FY2018 earnings at $1.60 EPS.
A number of other analysts have also recently commented on SCL. AltaCorp Capital cut Shawcor from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, April 18th. Royal Bank Of Canada cut their target price on Shawcor from C$40.00 to C$38.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 11th. Industrial Alliance Securities upgraded Shawcor from a “buy” rating to a “strong-buy” rating and set a C$41.00 target price on the stock in a research report on Monday, May 29th. National Bank Financial cut Shawcor from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from C$40.00 to C$27.00 in a research report on Monday, June 26th. Finally, BMO Capital Markets cut their target price on Shawcor from C$42.00 to C$36.00 in a research report on Monday. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of C$36.80.
Shares of Shawcor (SCL) traded up 0.04% on Wednesday, reaching $25.16. The company had a trading volume of 35,770 shares. Shawcor has a 12 month low of $25.05 and a 12 month high of $39.95. The firm’s 50 day moving average is $26.98 and its 200 day moving average is $32.88. The firm’s market capitalization is $1.76 billion.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Thursday, August 31st will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Thursday, August 17th.
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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