Canaccord Genuity Group Trims Shawcor (TSE:SCL) Target Price to C$20.00

Shawcor (TSE:SCL - Get Rating) had its target price cut by investment analysts at Canaccord Genuity Group from C$29.00 to C$20.00 in a research note issued to investors on Friday, BayStreet.CA reports. Canaccord Genuity Group's price objective would suggest a potential upside of 21.29% from the company's current price.

Other equities analysts have also issued research reports about the stock. National Bank Financial reiterated an "outperform overweight" rating on shares of Shawcor in a report on Friday, February 10th. Cormark cut their price target on shares of Shawcor from C$25.25 to C$23.50 in a report on Tuesday, May 16th. BMO Capital Markets boosted their target price on shares of Shawcor from C$13.00 to C$14.00 in a research note on Tuesday, April 25th. Royal Bank of Canada boosted their target price on shares of Shawcor from C$15.00 to C$16.00 and gave the company an "outperform" rating in a research note on Tuesday, May 16th. Finally, TD Securities upped their price target on shares of Shawcor from C$13.50 to C$16.00 and gave the company a "hold" rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of C$17.93.

TSE:SCL traded up C$0.37 during mid-day trading on Friday, reaching C$16.49. The stock had a trading volume of 173,260 shares, compared to its average volume of 318,098. The stock has a 50-day simple moving average of C$13.08 and a two-hundred day simple moving average of C$13.17. The stock has a market capitalization of C$1.15 billion, a PE ratio of 549.33, a P/E/G ratio of 0.55 and a beta of 2.35. The company has a debt-to-equity ratio of 34.41, a current ratio of 1.29 and a quick ratio of 1.00. Shawcor has a 12 month low of C$4.99 and a 12 month high of C$16.74.

Shawcor (TSE:SCL - Get Rating) last announced its quarterly earnings data on Wednesday, March 8th. The company reported C$0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of C$0.21 by C($0.03). Shawcor had a net margin of 0.16% and a return on equity of 0.20%. The firm had revenue of C$345.46 million during the quarter, compared to the consensus estimate of C$344.60 million. On average, equities analysts anticipate that Shawcor will post 1.9789343 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider Shawcor, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Shawcor wasn't on the list.

While Shawcor currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

MarketBeat's analysts have just released their top five short plays for June 2023. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:

View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.

Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.

Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.