TD Securities Upgrades Shawcor (SCL) to Buy

TD Securities upgraded shares of Shawcor (TSE:SCL) from a hold rating to a buy rating in a research report released on Monday morning. The firm currently has C$24.00 target price on the stock, down from their previous target price of C$27.00.

Separately, Industrial Alliance Securities dropped their price objective on shares of Shawcor from C$34.00 to C$33.00 in a report on Thursday, September 27th.

Shares of TSE SCL opened at C$18.88 on Monday. Shawcor has a 1-year low of C$15.11 and a 1-year high of C$29.50. The company has a debt-to-equity ratio of 25.52, a quick ratio of 1.72 and a current ratio of 2.29.

Shawcor (TSE:SCL) last announced its quarterly earnings data on Tuesday, November 6th. The company reported C$0.15 earnings per share for the quarter, beating the consensus estimate of C$0.09 by C$0.06. The company had revenue of C$350.59 million for the quarter, compared to analyst estimates of C$342.30 million. As a group, research analysts expect that Shawcor will post 0.64 earnings per share for the current year.

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. It operates in two segments, Pipeline and Pipe Services, and Petrochemical and Industrial. The company offers pipe coating, insulation coating, and weight coating systems, as well as custom coating and field joint application services for onshore and offshore pipelines; ultrasonic and radiographic pipeline girth weld inspection services for pipeline operators and construction contractors; manufactures and sells heat shrinkable sleeves, adhesives, and liquid coatings for pipeline joint protection applications; and designs and assembles engineered pipe logistics products and services.

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