Shaw Communications (SJR) Upgraded at Canaccord Genuity

Canaccord Genuity upgraded shares of Shaw Communications (NYSE:SJR) (TSE:SJR.B) from a hold rating to a buy rating in a research note issued to investors on Friday, Marketbeat.com reports.

A number of other analysts have also commented on the company. Zacks Investment Research lowered Shaw Communications from a hold rating to a sell rating in a research report on Wednesday, December 27th. TD Securities raised Shaw Communications to a buy rating in a research report on Friday, January 12th. Finally, Barclays raised Shaw Communications from an equal weight rating to an overweight rating in a research report on Thursday, April 12th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $27.00.

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Shares of Shaw Communications stock opened at $20.94 on Friday. Shaw Communications has a one year low of $18.50 and a one year high of $23.44. The stock has a market capitalization of $10,011.76, a P/E ratio of 24.93, a PEG ratio of 4.39 and a beta of 0.93. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.63 and a quick ratio of 0.54.

Shaw Communications (NYSE:SJR) (TSE:SJR.B) last issued its earnings results on Thursday, April 12th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.17. Shaw Communications had a return on equity of 11.49% and a net margin of 10.97%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the company posted $0.30 EPS. The firm’s revenue was up 12.4% compared to the same quarter last year. analysts expect that Shaw Communications will post 0.95 EPS for the current fiscal year.

The business also recently disclosed a monthly dividend, which will be paid on Thursday, August 30th. Shareholders of record on Wednesday, August 15th will be issued a dividend of $0.0773 per share. This represents a $0.93 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date is Tuesday, August 14th. Shaw Communications’s dividend payout ratio is currently 113.10%.

A number of institutional investors and hedge funds have recently modified their holdings of SJR. Mackenzie Financial Corp increased its holdings in Shaw Communications by 1,002.5% during the 4th quarter. Mackenzie Financial Corp now owns 49,025,287 shares of the company’s stock worth $1,119,247,000 after purchasing an additional 44,578,411 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in Shaw Communications by 14.3% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 9,331,842 shares of the company’s stock worth $213,680,000 after purchasing an additional 1,166,633 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Shaw Communications by 177.5% during the 4th quarter. Renaissance Technologies LLC now owns 1,391,900 shares of the company’s stock worth $31,803,000 after purchasing an additional 890,300 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Shaw Communications by 10.4% during the 4th quarter. CIBC Asset Management Inc now owns 7,953,685 shares of the company’s stock worth $182,297,000 after purchasing an additional 748,756 shares in the last quarter. Finally, Highstreet Asset Management Inc. increased its holdings in Shaw Communications by 63.3% during the 4th quarter. Highstreet Asset Management Inc. now owns 856,522 shares of the company’s stock worth $19,549,000 after purchasing an additional 332,095 shares in the last quarter. 51.49% of the stock is owned by hedge funds and other institutional investors.

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About Shaw Communications

Shaw Communications Inc operates as a diversified communications company in North America. The company operates through Consumer, Business Network Services, and Wireless segments. The Consumer segment provides cable telecommunications services, including video, Internet, Wi-Fi, phone, and satellite video services to residential customers.

Analyst Recommendations for Shaw Communications (NYSE:SJR)

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