Cormark Comments on Shaw Communications Inc.’s FY2022 Earnings (NYSE:SJR)

Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) – Analysts at Cormark decreased their FY2022 earnings per share (EPS) estimates for shares of Shaw Communications in a research report issued on Thursday, January 13th. Cormark analyst D. Mcfadgen now forecasts that the company will post earnings of $1.27 per share for the year, down from their previous estimate of $1.30.

Separately, Royal Bank of Canada upgraded Shaw Communications from a “sector perform” rating to an “outperform” rating in a research note on Monday, November 8th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $38.13.

Shaw Communications stock opened at $30.17 on Friday. Shaw Communications has a fifty-two week low of $17.06 and a fifty-two week high of $30.66. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.75 and a current ratio of 0.79. The company has a market cap of $14.38 billion, a PE ratio of 18.74 and a beta of 0.68. The business’s 50-day simple moving average is $29.51 and its two-hundred day simple moving average is $29.18.

Shaw Communications (NYSE:SJR) (TSE:SJR.B) last posted its quarterly earnings results on Wednesday, January 12th. The company reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.10. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.39 billion. Shaw Communications had a return on equity of 17.12% and a net margin of 18.48%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.24 EPS.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parisi Gray Wealth Management acquired a new position in Shaw Communications in the 2nd quarter worth about $29,000. Rockefeller Capital Management L.P. acquired a new position in Shaw Communications in the 2nd quarter worth about $48,000. Advisor Group Holdings Inc. raised its holdings in Shaw Communications by 159.5% in the 2nd quarter. Advisor Group Holdings Inc. now owns 4,061 shares of the company’s stock worth $117,000 after purchasing an additional 2,496 shares during the period. C M Bidwell & Associates Ltd. acquired a new position in Shaw Communications in the 2nd quarter worth about $135,000. Finally, PNC Financial Services Group Inc. raised its holdings in Shaw Communications by 47.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,218 shares of the company’s stock worth $150,000 after purchasing an additional 1,676 shares during the period. 55.70% of the stock is owned by institutional investors.

The business also recently announced a monthly dividend, which will be paid on Thursday, April 28th. Stockholders of record on Thursday, April 14th will be paid a $0.0789 dividend. The ex-dividend date of this dividend is Wednesday, April 13th. This represents a $0.95 dividend on an annualized basis and a dividend yield of 3.14%. Shaw Communications’s payout ratio is 57.76%.

Shaw Communications Company Profile

Shaw Communications, Inc engages in the provision of cable telecommunications and satellite video services. The company was founded by James Robert Shaw on December 9, 1966 and is headquartered in Calgary, Canada.

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