Shaw Communications (NYSE:SJR) (TSE:SJR.B) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage presently has a $23.00 price target on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 10.79% from the company’s previous close.
According to Zacks, “Shaw Communications is benefiting from robust performance of the wireless segment driven by an expanding subscriber base as well as improvement in average revenue per unit (ARPU). Increase in the subscriber base reflects continued customer demand for premium smartphones combined with device pricing and affordable packaging options, data centric plans, and improving network and customer experience. Moreover, deployment of 700 MHz spectrum will further improve customer experience by providing far-reaching coverage and stronger indoor wireless reception. Shaw continues to expand its footprint across Canda, which is a key catalyst. Shares have outperformed the industry in the past year. However, weakness in the wireline segment remains a concern.”
Several other equities analysts have also commented on the stock. Desjardins upgraded shares of Shaw Communications from a “hold” rating to a “buy” rating in a research report on Tuesday, December 18th. ValuEngine upgraded shares of Shaw Communications from a “hold” rating to a “buy” rating in a research report on Friday, December 21st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Shaw Communications presently has an average rating of “Buy” and a consensus price target of $26.33.
SJR stock opened at $20.76 on Wednesday. Shaw Communications has a 52 week low of $17.50 and a 52 week high of $21.50. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.71 and a quick ratio of 0.67. The firm has a market cap of $10.58 billion, a price-to-earnings ratio of 17.59, a price-to-earnings-growth ratio of 4.06 and a beta of 0.88.
Shaw Communications (NYSE:SJR) (TSE:SJR.B) last released its quarterly earnings data on Monday, January 14th. The company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.09. Shaw Communications had a net margin of 2.29% and a return on equity of 14.12%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the business earned $0.22 earnings per share. Shaw Communications’s quarterly revenue was up 8.8% compared to the same quarter last year. Research analysts anticipate that Shaw Communications will post 1.03 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the company. Montrusco Bolton Investments Inc. lifted its holdings in shares of Shaw Communications by 0.6% in the 4th quarter. Montrusco Bolton Investments Inc. now owns 89,560 shares of the company’s stock worth $1,620,000 after acquiring an additional 493 shares during the last quarter. Comerica Bank lifted its holdings in shares of Shaw Communications by 3.3% in the 4th quarter. Comerica Bank now owns 28,802 shares of the company’s stock worth $575,000 after acquiring an additional 916 shares during the last quarter. Commonwealth Bank of Australia lifted its holdings in shares of Shaw Communications by 3.8% in the 4th quarter. Commonwealth Bank of Australia now owns 66,171 shares of the company’s stock worth $1,195,000 after acquiring an additional 2,400 shares during the last quarter. Stonebridge Capital Management Inc. lifted its holdings in shares of Shaw Communications by 11.3% in the 4th quarter. Stonebridge Capital Management Inc. now owns 31,075 shares of the company’s stock worth $562,000 after acquiring an additional 3,150 shares during the last quarter. Finally, Riverhead Capital Management LLC lifted its holdings in shares of Shaw Communications by 69.9% in the 3rd quarter. Riverhead Capital Management LLC now owns 7,983 shares of the company’s stock worth $154,000 after acquiring an additional 3,283 shares during the last quarter. Hedge funds and other institutional investors own 51.67% of the company’s stock.
About Shaw Communications
Shaw Communications Inc operates as a connectivity company in North America. The company operates through Wireline and Wireless segments. The Wireline segment provides broadband Internet, Shaw Go WiFi, video, and digital phone services to residential customers; and Internet, data, WiFi, digital phone, and video services to business customers.
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