|Bid||31.04 x 0|
|Ask||31.05 x 0|
|Day's Range||30.84 - 31.61|
|52 Week Range||15.47 - 48.88|
|Beta (5Y Monthly)||0.59|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.08 (0.25%)|
|Ex-Dividend Date||Nov. 11, 2019|
|1y Target Est||N/A|
December was good for SNC-Lavalin Group Inc. (TSX:SNC) (NYSE:SNC), as the company announced that federal charges have been settled and that a new nuclear contract was won.
Husky Energy’s (TSX:HSE) stock could rebound with the price of oil in 2020. Meanwhile, sentiment could shift for SNC Lavalin (TSX:SNC).
Double your Tax-Free Savings Account balance in 2020 with a long position in SNC-Lavalin Group Inc (TSX:SNC) on the Toronto Stock Exchange in Canada.
It is not surprising the see poor performances and the sharp drop in prices of the Encana stock, SNC-Lavalin stock, and Sierra Wireless stock. Near-term recovery is unlikely.
MONTREAL — SNC-Lavalin Group Inc. on Wednesday settled criminal charges related to business dealings in Libya, with its construction division pleading guilty to a single count of fraud and bringing the engineering giant a step closer to ending a long-standing scandal that tarnished its reputation and ensnared the highest office of the Canadian government.The plea deal includes a $280-million fine to be paid over five years and a three-year probation order, and appears to free SNC-Lavalin from the damaging prospect of a ban on federal contract bidding.The agreement in the Court of Quebec stays all but one of six charges of corruption and fraud brought against SNC-Lavalin and two subsidiaries in 2015.It also stipulates that SNC will engage an independent monitor who will release regular reports and can order changes to the company's compliance and ethics programs.The guilty plea represents an opportunity for the company to turn a corner since questionable practices first surfaced in 2012 and prompted the departure of former chief executive Pierre Duhaime."This is a game-changer for the company and finally allows us to put this issue behind us. I apologize for this past misconduct and welcome the opportunity to move forward," said CEO Ian Edwards, in a statement."The reputation of the company is tarnished," defence lawyer Francois Fontaine told reporters. "Judicially it’s a very good result, but the company still has a lot of work to do to show that it's a new company and gain the confidence of clients."SNC-Lavalin shares soared on the news, closing up $4.58 or 18.99 per cent at $28.70 on the Toronto Stock Exchange. Shares had been halted prior to market open.SNC-Lavalin admitted in its plea that the company — via the actions of top executives Riadh Ben Aissa and Sami Bebawi — defrauded Libya of millions between 2001 and 2011.SNC-Lavalin Construction Inc. relied on a pair of shell companies incorporated in Switzerland and Panama and controlled by Ben Aissa to pay Saadi Gadhafi, son of the late Libyan dictator Moammar Gadhafi, nearly $48 million for contracts he helped secure, "altering the competitive bidding process and causing a loss or a risk of loss to the Libyan people," the Public Prosecution Service of Canada said in a statement.The construction projects, which ranged from the Benghazi airport to the "Great Man-Made River" water pipeline, reaped nearly $1.8 billion in revenue and $104 million in net profit for SNC within a decade.The initial charges, now stayed, had also alleged that the Montreal-based company paid nearly $48 million to public officials to influence government decisions under Gadhafi's regime."This sentence must be a deterrent generally, but must not be crippling," said Crown prosecutor Richard Roy .Asked whether the deal lets the company off easy, he replied that it reflects "the severity of the crime...I challenge anyone to find a fine that is higher than that for a criminal offence."The plea deal comes on the heels of Bebawi's conviction last Sunday, when a jury found the ex-SNC-Lavalin Construction president guilty of paying off foreign officials and pocketing millions as he worked to secure contracts for the company in Libya.One of the biggest risks faced by SNC-Lavalin in the event of a conviction on corruption charges involving foreign officials was its ability to bid for construction projects in Canada and abroad. Under federal law, a bribery offence could result in a bidding ban for federal contracts for up to 10 years. It could also prompt a ban on bidding for projects backed by the World Bank.While fraud committed against the Canadian government is covered under the public works department's integrity regime — and could thus trigger a ban — a fraud offence connected to a foreign government is not, said Kenneth Jull, an expert in financial crimes and corporate compliance at Gardiner Roberts law firm in Toronto."It's very clever. You could say it's almost like a DPA through the back door," said Jull, who has endorsed deferred prosecution agreements (DPA) — a type of plea deal that steers clear of admissions of guilt — as a way to avoid punishing innocent employees for C-suite offences.SNC-Lavalin said in a statement it does not anticipate the guilty plea will affect bidding on future projects by any of its companies."The feared outright ban on public work is far removed from the worst-case scenarios that have floated around the company,” said analyst Maxim Sytchev of the National Bank of Canada.While a cloud may linger above the beleaguered firm, it is "no longer a pariah investment," he said in a note to investors. "We do expect the corruption 'discount' to dissipate over time."Nearly one-third of SNC-Lavalin's $9.3 billion in revenue in 2017 came from Canada, down from roughly a 60 per cent share of revenue in 2014. Analysts estimate that up to half of its Canadian revenue stems from federal contracts.The SNC-Lavalin case became a crisis for the governing Liberals after then-attorney general Jody Wilson-Raybould claimed she was pressured by people in Prime Minister Justin Trudeau's inner circle to settle criminal charges against the company through a new legal tool comparable to a plea deal.Trudeau and his aides had argued that a criminal trial could trigger the company's exit from Canada and the loss of thousands of jobs.Edwards said in October that he did not expect a plea deal on the criminal charges in the wake of the Liberal election victory."We kind of remain focused on defending ourselves through a court process,'' he told investor on an Oct. 31 conference call. "Obviously if there were opportunities for settling this in another way, we'd be open to that. But we don't expect it.''Attorney General David Lametti had refused to shut down the possibility of such an agreement, which would drop the charges against the firm in exchange for SNC admitting responsibility for breaches and agreeing to conditions such as a fine and third-party oversight.Lametti was not involved in the plea bargaining that took place over the past few months, Roy said. Director of Public Prosecutions Kathleen Roussel had been consulted ahead of the plea deal, he added.This report by The Canadian Press was first published Dec. 18, 2019.Companies in this story: (TSX:SNC)Christopher Reynolds , The Canadian Press
Canadian stock market investors looking for a stock with a potential 30% upside after the new year may want to buy SNC-Lavalin Group Inc (TSX:SNC) stock.
TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:Toronto Stock Exchange (17,035.88, up 3.02 points.)Algonquin Power & Utilities Corp. (TSX:AQN). Utilities. Up two cents, or 0.11 per cent, to $18.27 on 31.2 million shares.Trevali Mining Corp. (TSX:TV). Materials. Down one cent, or 6.06 per cent, to 15.5 cents on 19.8 million shares.Tourmaline Oil Corp. (TSX:TOU). Energy, Down 48 cents, or 3.73 per cent, to $12.40 on 15.9 million shares.Aurora Cannabis Inc. (TSX:ACB). Health care. Down 12 cents, or 3.6 per cent, to $3.21 on 12.5 million shares.The Green Organic Dutchman Holdings (TSX:TGOD). Health care. Down 16 cents, or 17.98 per cent, to 73 cents on 11.4 million shares.SNC-Lavalin Group Inc. (TSX:SNC). Industrials. Down 31 cents, or 1.31 per cent, to $23.41 on 11.1 million shares. Companies in the news:Canadian National Railway Co. (TSX:CNR). Up $1.58 or 1.3 per cent to $122.49. Canada's largest railway and Teamsters Canada have reached a tentative deal to renew a collective agreement for more than 3,000 workers, ending a strike that triggered layoffs, disrupted industries and halted bulk and container shipments. Normal operations at Canadian National Railway Co. will resume Wednesday at 6 a.m. local time across Canada, the union said. Details of the settlement agreement, which must be ratified by union members, were not immediately available. Ratification is expected within eight weeks. About 3,200 CN conductors, trainpersons and yard workers across the country, who have been without a contract since July 23, have been off the job since early last Tuesday morning over worries about long hours, fatigue and what they consider dangerous working conditions.Alimentation Couche-Tard Inc. (TSX:ATD.B). Up 38 cents to $43.34. Alimentation Couche-Tard Inc. is proposing the largest acquisition in the company's history with a $7.7 billion deal for Australia's largest retail fuel and convenience chain. The unsolicited purchase offer for Sydney-based Caltex Australia Ltd. — its second this year — would allow the Quebec-based retailer to expand beyond North America and Europe as it aims to double the company's size. Couche-Tard CEO Brian Hannasch described the proposal as "a very compelling offer" for Caltex shareholders.The Bank of Nova Scotia (TSX:BNS). Down 62 cents to $75.18. The Bank of Nova Scotia is expecting a strong performance from its Canadian banking segment next year driven by higher contributions from business banking, credit cards and growth of Tangerine digital banking. The bank's domestic operations are forecast to contribute 30 to 40 per cent of all bank earnings in 2020, with international banking at 25 to 30 per cent, global banking and markets at 15 to 20 per cent and global wealth management at about 15 per cent. The bank said it earned $2.31 billion for the three-month period ended Oct. 31 compared with a profit of $2.27 billion in the same quarter last year.Newmont Goldcorp Corp. (TSX:NGT). Up 25 cents to $50.52. Evolution Mining Ltd. says it will invest US$150 million over the next three years in the "undercapitalized" Red Lake gold complex in western Ontario after striking a deal to buy it for US$375 million from Newmont Goldcorp Corp. In a news release, the Australian company says it plans to spend US$50 million on exploration and invest US$100 million in existing operations at the underground mining complex if the acquisition closes as expected by the end of March. Evolution says it has also agreed to boost the price by up to US$100 million payable upon new resource discovery.This report by The Canadian Press was first published Nov. 26, 2019.The Canadian Press
Over the last month the SNC-Lavalin Group Inc. (TSE:SNC) has been much stronger than before, rebounding by 60%. But...
Despite Trudeau’s victory at the polls, it’s risky to buy the SNC-Lavalin stock. The prominent engineering company is not out of the woods as it faces a corruption trial.
MONTREAL — The head of SNC-Lavalin Group Inc. says he is not expecting a plea deal on criminal charges against the engineering firm in the wake of the Liberal election victory."We kind of remain focused on defending ourselves through a court process," said Ian Edwards, regarding an upcoming trial on bribery and corruption charges linked to SNC-Lavalin's alleged dealings in Libya between 2001 and 2011. "Obviously if there were opportunities for settling this in another way, we'd be open to that. But we don't expect it," he said on a conference call with investors Thursday.SNC-Lavalin shares shot up 14 per cent the day after an Oct. 21 Liberal election win, which left the door open to a deferred prosecution agreement that would head off criminal prosecution.Attorney General David Lametti has refused to shut down the possibility of such an agreement, which would drop the charges against the firm in exchange for SNC admitting responsibility for breaches and agreeing to conditions such as a fine and third-party oversight.On Thursday shares rose nearly 21 per cent or $4.06 to close at $23.81 — their highest in more than three months — after SNC reported earnings that surpassed analyst expectations.The partial sale of SNC's stake in the Ontario Highway 407 toll road drove a massive year-over-year profit increase. About $2.6 billion of the firm's $2.76 billion in net income last quarter — up from $120.7 million a year earlier — came from the after-tax gains of the 407 sale.The engineering services segment played a role too. Its backlog rose nearly 10 per cent year over year to $11.42 billion in the third quarter as SNC signed seven new contracts worth roughly $500 million. Segment revenue jumped more than 11 per cent to $1.58 billion.Edwards, who was appointed president and chief executive Thursday after serving in an interim role since June, sought to showcase the fruits of his vision for the company. The firm is pivoting away from big, fixed-price construction contracts — where the bidder shoulders any cost overruns — towards a more stable business model that revolves around engineering services."It is still early days, but the decisions we made in July — to exit lump-sum turnkey construction contracting and reorganize the company to focus on our high-performing engineering services business — are demonstrating results, and I am encouraged by our progress," Edwards said in a release.SNC-Lavalin reduced its backlog of large, fixed-price contracts — which it aims to work off in the next two years — to $3.2 billion from $3.4 billion three months earlier. The bulk of them relate to light-rail projects in Canada, "which have traditionally...gone well for us," Edwards said.Some half-billion dollars' worth of the lump-sum turnkey projects are for oil and gas, however, which do not have a history of turning a profit, he added.Last October shares plunged after SNC-Lavalin revealed that federal prosecutors would not negotiate a deal, despite Prime Minister Justin Trudeau pressuring then-attorney general Jody Wilson Raybould to reverse their stance.The firm's upcoming trial concerns charges of fraud under the Criminal Code and bribery under the Corruption of Foreign Public Officials Act.The Caisse, Quebec's pension fund manager and SNC-Lavalin's biggest shareholder at 19.9 per cent, said it backs Edwards' appointment as CEO."Since taking the reins of the company a few months ago, he's clearly put emphasis on execution challenges. That's a good starting point for the work ahead," the Caisse told The Canadian Press in an email.Revenue for the three-month period ended Sept. 30 totalled $2.43 billion, down from $2.56 billion.On an adjusted basis, which excluded the 407 sale, SNC said it earned $218.0 million or $1.24 per share in its third quarter, up from an adjusted profit of $168.4 million or 96 cents per share a year ago.The results topped analyst expectations of adjusted income of $97.7 million or 26 cents per share, according to financial markets data firm Refinitiv.This report by The Canadian Press was first published Oct. 31, 2019.Companies in this story: (TSX:SNC)Christopher Reynolds, The Canadian Press
On Thursday, SNC-Lavalin Group Inc (TSX:SNC) made a comforting announcement to accompany its earnings call for the quarter ended September 30.
SNC Lavalin (TSX:SNC) has faced a lot of difficulties this year, but the recent Canadian elections could have triggered a buy signal for embattled shares.
WSP Global Inc (TSX:WSP) and Aecon Group Inc (TSX:ARE) are two attractive and less-risky alternatives in the engineering and construction space.
Trudeau's Liberals have thus far refused to rule out a plea deal with SNC Lavalin (TSX:SNC). Is a minority Government exactly what the company needed?
After the Liberal Party election win, Justin Trudeau will remain prime minister in Canada, sending SNC-Lavalin (TSX:SNC) shares up 14%.
MONTREAL — SNC-Lavalin Group Inc. shares shot up Tuesday after the Liberal election win left open the possibility of a plea deal on fraud and corruption charges against the engineering firm.The beleaguered company's shares closed up nearly 14 per cent or $2.44 at $20.12, buoyed by investor hopes that the Liberal refusal to close the door on a deferred prosecution agreement will play out to SNC-Lavalin's advantage ahead of a criminal trial."It's good for SNC," Prof. Karl Moore of McGill University's Desautels Faculty of Management said of the newly elected Liberal minority government in Ottawa."I think the market sees it, not unreasonably, that they are in better shape than if the Conservatives had come in."Conservative Leader Andrew Scheer has lambasted Prime Minister Justin Trudeau for allegedly pressuring former attorney general Jody Wilson-Raybould to halt the criminal prosecution of SNC-Lavalin.Canada's ethics commissioner concluded in August that Trudeau breached a section of the ethics code. Trudeau has said he disagrees with the commissioner's findings but accepts them.Analyst Chris Murray of Altacorp Capital said that a resurgent Bloc Quebecois, which more than tripled its seat count to 32 on Monday, could fan hopes that the new Parliament might work to help the Montreal-based multinational."With the performance of the BQ and the fact of a minority government, maybe some folks are optimistic that there could be a solution presented," Murray said."I'd also caution that there is a lot of history here...While it is up, I would be cautious [about] getting too optimistic," he added.SNC-Lavalin declined to discuss the government's intentions or comment on the ongoing court case. It is due back in court on Dec. 18.Attorney General David Lametti has refused to shut down the possibility of a remediation agreement with SNC.The company has seen its market value fall by roughly 60 per cent since January amid the SNC political scandal in Ottawa.SNC faces an upcoming trial on charges of fraud under the Criminal Code and bribery under the Corruption of Foreign Public Officials Act.Its shares plunged last October after the company revealed that federal prosecutors would not negotiate a deal that could reduce the time SNC spends in court fighting the charges laid against it in 2015.Last month interim chief executive Ian Edwards announced the company will quit the field of big, fixed-price construction contracts — where the bidder shoulders any cost overruns — and pivot to a more stable business model that revolves around engineering services."After a challenging first half of 2019, SNC is on a road to recovery with several positive steps including simplifying its business and limiting its exposure towards lump-sum turnkey (LSTK) construction projects," said Laurentian Bank Securities analyst Nauman Satti in a note to investors Monday.Satti said investor confidence "should gradually start to recover" as the firm runs off the bulk of its $4.6-billion LSTK backlog."The completion of the partial sale of Hwy. 407 asset has provided a much needed improvement to the balance sheet, albeit at the expense of a good asset," he added.Spanish multinational Ferrovial S.A. is currently appealing a court decision that cleared the way for SNC's partial sale of its stake in the Ontario toll road to the Canada Pension Plan Investment Board, the proceeds of which the company plans to put toward debt repayment, including a $600-million payment on a loan from the Caisse.This report by The Canadian Press was first published Oct. 22, 2019.Companies in this story: (TSX:SNC)Julien Arsenault and Christopher Reynolds, The Canadian Press
SNC-Lavalin Group Inc. (TSX:SNC) and Just Energy Group Inc. (TSX:JE)(NYSE:JE) are no longer generous dividend payers. Both stocks are not worthy to be in a TFSA today.