Shawcor Ltd. (TSE:SCL) Expected to Earn Q3 2023 Earnings of $0.68 Per Share

Shawcor Ltd. (TSE:SCLGet Rating) – Atb Cap Markets upped their Q3 2023 earnings estimates for Shawcor in a report released on Tuesday, November 15th. Atb Cap Markets analyst T. Monachello now anticipates that the company will post earnings per share of $0.68 for the quarter, up from their prior estimate of $0.58. The consensus estimate for Shawcor’s current full-year earnings is $1.78 per share. Atb Cap Markets also issued estimates for Shawcor’s Q4 2023 earnings at $0.66 EPS and FY2023 earnings at $2.09 EPS.

Other research analysts have also recently issued research reports about the stock. Royal Bank of Canada raised their target price on shares of Shawcor from C$11.00 to C$15.00 and gave the stock an “outperform” rating in a report on Tuesday. National Bankshares lifted their price objective on shares of Shawcor from C$12.00 to C$14.00 in a report on Tuesday. Cormark cut their price objective on shares of Shawcor from C$17.50 to C$15.00 in a report on Tuesday. ATB Capital lifted their price objective on shares of Shawcor from C$14.00 to C$16.75 in a report on Tuesday. Finally, TD Securities cut shares of Shawcor from a “buy” rating to a “hold” rating and lifted their price objective for the company from C$12.00 to C$13.00 in a report on Tuesday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$14.75.

Shawcor Trading Up 5.1 %

TSE SCL opened at C$11.94 on Thursday. The company has a fifty day simple moving average of C$9.19 and a two-hundred day simple moving average of C$7.15. The stock has a market cap of C$839.57 million and a P/E ratio of -11.90. Shawcor has a 12-month low of C$4.24 and a 12-month high of C$12.10. The company has a current ratio of 1.88, a quick ratio of 1.29 and a debt-to-equity ratio of 49.80.

Insider Activity

In other news, Senior Officer Kevin Dominic Reizer sold 15,902 shares of Shawcor stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of C$8.20, for a total value of C$130,466.37. Following the sale, the insider now owns 12,127 shares in the company, valued at C$99,494.76.

About Shawcor

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Shawcor Ltd. operates as a material sciences company that serves the infrastructure, energy, and transportation markets worldwide. It operates through three segments: Composite Systems, Automotive and Industrial, and Pipeline and Pipe Services. The Composite Systems segment manufactures flexible composite and high density polyethylene pipes that are used for oil and gas gathering, water disposal, carbon dioxide injection pipelines, and other applications; fiberglass reinforced plastic underground storage tanks for the retail fuel, water and wastewater, and oil and gas markets; and tubular management services to the Western Canadian onshore oilfield market, including inventory management systems, mobile inspection, in-plant inspection and the refurbishment and rethreading of drill pipe, production tubing and casing, and tubular products.

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Earnings History and Estimates for Shawcor (TSE:SCL)

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