Desjardins Analysts Increase Earnings Estimates for Shaw Communications Inc. (SJR)

Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) – Research analysts at Desjardins boosted their FY2017 earnings estimates for Shaw Communications in a research note issued to investors on Tuesday. Desjardins analyst M. Yaghi now forecasts that the company will earn $0.98 per share for the year, up from their previous forecast of $0.93.

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SJR has been the topic of a number of other research reports. Zacks Investment Research downgraded shares of Shaw Communications from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. National Bank Financial downgraded shares of Shaw Communications from an “outperform market weight” rating to a “sector perform market weight” rating in a report on Wednesday, June 28th. BidaskClub upgraded shares of Shaw Communications from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd. Finally, Scotiabank downgraded shares of Shaw Communications from an “outperform” rating to a “sector perform” rating in a report on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $27.14.

Shares of Shaw Communications (NYSE:SJR) traded down 0.64% during mid-day trading on Wednesday, reaching $21.84. 57,547 shares of the company were exchanged. Shaw Communications has a 12 month low of $19.02 and a 12 month high of $23.31. The company has a market capitalization of $10.78 billion, a price-to-earnings ratio of 25.34 and a beta of 0.91. The firm’s 50-day moving average is $22.69 and its 200-day moving average is $21.92.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisor Group Inc. grew its position in Shaw Communications by 170.3% in the 2nd quarter. Advisor Group Inc. now owns 4,687 shares of the company’s stock worth $101,000 after purchasing an additional 2,953 shares during the last quarter. Cutler Group LP grew its position in Shaw Communications by 983.3% in the 2nd quarter. Cutler Group LP now owns 6,500 shares of the company’s stock worth $141,000 after purchasing an additional 5,900 shares during the last quarter. US Bancorp DE grew its position in Shaw Communications by 14.6% in the 2nd quarter. US Bancorp DE now owns 9,921 shares of the company’s stock worth $217,000 after purchasing an additional 1,267 shares during the last quarter. Wetherby Asset Management Inc. grew its position in Shaw Communications by 4.4% in the 2nd quarter. Wetherby Asset Management Inc. now owns 10,332 shares of the company’s stock worth $225,000 after purchasing an additional 439 shares during the last quarter. Finally, Ameriprise Financial Inc. acquired a new stake in Shaw Communications in the 2nd quarter worth $252,000. Institutional investors own 51.77% of the company’s stock.

Shaw Communications Company Profile

Shaw Communications Inc (Shaw) is a diversified connectivity provider. The Company operates through four divisions: Consumer, Wireless, Business Network Services and Business Infrastructure Services. Under the Consumer division, the Company offers Cable telecommunications and Satellite video services to residential customers.

Earnings History and Estimates for Shaw Communications (NYSE:SJR)

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