SHAWCOR LTD. $35 - Toronto symbol SCL

SHAWCOR LTD. $35 (Toronto symbol SCL; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 64.5 million; Market cap: $2.3 billion; Priceto- sales ratio: 1.2; Dividend yield: 1.7%; TSINetwork Rating: Average; www.shawcor.com) lost $0.32 a share in the fourth quarter of 2014, mainly due to writedowns of its pipelinecoating facilities in Texas and a joint venture in Venezuela. Without these charges, it earned $0.76 a share, up 105.4% from $0.37 a year earlier.

Revenue rose 22.0%, to $500.0 million from $409.8 million, partly because the lower Canadian dollar enhanced its overseas projects’ results.

Lower oil prices will probably slow pipeline construction and hurt demand for ShawCor’s services. However, the company has $766 million worth of orders that it expects to complete in 2015. It is also bidding on other jobs worth a total of $800 million.

ShawCor is still a buy.

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