Expect rebound as oil prices rise

Article Excerpt

SHAWCOR LTD. $24 (Toronto symbol SCL; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 70.1 million; Market cap: $1.7 billion; Price-to- sales ratio: 1.1; Dividend yield: 2.5%; TSINetwork Rating: Average; www.shawcor.com) is a leading producer of sealants and coatings to keep oil and gas pipelines from rusting. It also makes electrical wire and other industrial products. In the three months ended June 30, 2018, revenue fell 6.7%, to $357.9 million from $383.6 million a year earlier. That’s mainly because the company recently completed a big project in Latin America. Earnings dropped 39.1%, to $0.14 a share from $0.23. Shawcor’s order backlog at the end of the quarter was $447 million. In addition, it has submitted bids on new projects totalling $1.0 billion. It is also working with customers on projects worth over $1.6 billion. ShawCor is a buy. buy…

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