SNC-Lavalin: Healthy Tone to 4Q Results; Well-Positioned for Revenue and Earnings Growth in 2017
We maintained our fair value estimate of CAD 57 for SNC-Lavalin following fourth-quarter results and management guiding to earnings growth in 2017. 2016 was a year of internal improvement for SNC as it trimmed fixed costs, pruned its portfolio, and sustained backlog growth during a period of sluggish industry demand, including a significant EPC award for a new ammonia plant as well as a long-term support services contract in Oman announced this week.We are confident EPS is on the rise in 2017,...
SNC-Lavalin Group is an engineering and construction group, and is engaged in the ownership of infrastructure and in the provision of operations and maintenance services. Co.'s segments are: mining and metallurgy, which provide tailored solutions for projects in the aluminum, gold, copper product sectors, among others; oil and gas, which includes projects for oil and gas and resources companies; power, which includes projects and services in hydro, and nuclear and thermal power generation, among others; infrastructure, which include infrastructure & construction, and operations and maintenance; capital, which invest in equity or subordinated debt into projects for public services.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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