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.
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.
TRADEMARK VIOLATION NOTICE: This piece of content was published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States and international copyright law. The correct version of this piece of content can be read at https://www.dispatchtribunal.com/2018/04/17/shaw-communications-sjr-upgraded-at-canaccord-genuity.html.
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.
Receive News & Ratings for Shaw Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shaw Communications and related companies with MarketBeat.com's FREE daily email newsletter.