Shawcor Ltd (SCL) Plans $0.15 Quarterly Dividend

Shawcor Ltd (TSE:SCL) declared a quarterly dividend on Tuesday, May 14th, Zacks reports. Shareholders of record on Friday, May 24th will be given a dividend of 0.15 per share on Friday, June 7th. This represents a $0.60 annualized dividend and a yield of 3.22%. The ex-dividend date is Thursday, May 23rd.

TSE:SCL traded down C$0.20 during mid-day trading on Friday, hitting C$18.64. 118,100 shares of the company’s stock traded hands, compared to its average volume of 101,305. The company has a current ratio of 2.36, a quick ratio of 1.80 and a debt-to-equity ratio of 26.11. Shawcor has a 1 year low of C$15.11 and a 1 year high of C$28.89. The company has a market capitalization of $1.34 billion and a P/E ratio of 50.51.

Shawcor (TSE:SCL) last posted its earnings results on Wednesday, March 6th. The company reported C$0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C($0.04) by C$0.10. The business had revenue of C$354.15 million for the quarter, compared to analysts’ expectations of C$336.10 million. On average, equities research analysts predict that Shawcor will post 1.38000001188375 earnings per share for the current year.

In related news, Senior Officer Kevin Dominic Reizer sold 1,573 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of C$21.00, for a total value of C$33,033.00. Following the sale, the insider now directly owns 427 shares of the company’s stock, valued at C$8,967.

Several equities research analysts have issued reports on SCL shares. Cormark decreased their price target on shares of Shawcor from C$35.00 to C$28.00 and set a “buy” rating on the stock in a research note on Tuesday, March 12th. BMO Capital Markets decreased their price target on shares of Shawcor from C$32.00 to C$28.00 in a research note on Thursday. AltaCorp Capital reaffirmed an “outperform” rating on shares of Shawcor in a research note on Tuesday, April 2nd. National Bank Financial decreased their price target on shares of Shawcor from C$36.00 to C$33.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 27th. Finally, Industrial Alliance Securities raised their price target on shares of Shawcor from C$26.50 to C$27.50 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 22nd. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of C$28.10.

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Shawcor Company Profile

Shawcor Ltd., an energy services company, provides products and services for the pipeline, pipe services, petrochemical, and industrial segments of the energy industry in North America, Latin America, Europe, the Middle East, Africa, Russia, and the Asia Pacific. The company operates through two segments, Pipeline and Pipe Services, and Petrochemical and Industrial.

Further Reading: Oversold

Dividend History for Shawcor (TSE:SCL)

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