SHAWCOR LTD. $39 - Toronto symbol SCL

SHAWCOR LTD. $39 (Toronto symbol SCL; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 60.0 million; Market cap: $2.3 billion; Price-to-sales ratio: 1.2; Dividend yield: 1.3%; TSINetwork Rating: Average; www.shawcor.com) expects its earnings to fall about 50% in the fourth quarter of 2013, compared to the third quarter.

That’s mainly because it completed most of a major pipeline-coating contract in Asia in the third quarter. As well, the operators of new pipeline projects in the North Sea and Brazil have delayed their start-up. As a result, ShawCor will now begin work on these contracts in the first quarter of 2014.

ShawCor is still a buy.

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