Shaw Communications (NYSE:SJR) Upgraded at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Shaw Communications (NYSE:SJR – Get Rating) (TSE:SJR.B) from a hold rating to a buy rating in a report issued on Tuesday morning, The Fly reports.

Other equities research analysts have also issued research reports about the company. StockNews.com upgraded Shaw Communications from a sell rating to a hold rating in a research report on Friday, April 22nd. National Bank Financial upgraded Shaw Communications from a sector perform rating to an outperform rating in a report on Wednesday, May 18th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $40.50.

Shares of Shaw Communications stock opened at $29.04 on Tuesday. Shaw Communications has a one year low of $25.63 and a one year high of $31.60. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.87 and a quick ratio of 0.82. The stock’s 50-day moving average is $28.42 and its 200 day moving average is $29.48. The firm has a market cap of $13.85 billion, a price-to-earnings ratio of 18.38 and a beta of 0.66.

Shaw Communications (NYSE:SJR – Get Rating) (TSE:SJR.B) last announced its earnings results on Wednesday, April 13th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.01). Shaw Communications had a net margin of 18.19% and a return on equity of 16.57%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the company earned $0.34 EPS. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, sell-side analysts expect that Shaw Communications will post 1.26 EPS for the current fiscal year.

The company also recently declared a monthly dividend, which will be paid on Thursday, July 28th. Shareholders of record on Friday, July 15th will be issued a $0.0767 dividend. The ex-dividend date is Thursday, July 14th. This represents a $0.92 annualized dividend and a yield of 3.17%. Shaw Communications’s payout ratio is currently 59.49%.

Hedge funds have recently bought and sold shares of the company. Power Corp of Canada bought a new position in shares of Shaw Communications in the first quarter valued at approximately $54,000. PenderFund Capital Management Ltd. lifted its holdings in shares of Shaw Communications by 1,666.7% in the fourth quarter. PenderFund Capital Management Ltd. now owns 3,710 shares of the company’s stock valued at $142,000 after purchasing an additional 3,500 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Shaw Communications by 16.2% in the fourth quarter. Quadrant Capital Group LLC now owns 5,892 shares of the company’s stock valued at $179,000 after purchasing an additional 821 shares in the last quarter. Cigna Investments Inc. New bought a new position in shares of Shaw Communications in the fourth quarter valued at approximately $205,000. Finally, Atlas Capital Advisors LLC lifted its holdings in shares of Shaw Communications by 24.9% in the fourth quarter. Atlas Capital Advisors LLC now owns 6,863 shares of the company’s stock valued at $208,000 after purchasing an additional 1,367 shares in the last quarter. Institutional investors own 56.04% of the company’s stock.

About Shaw Communications (Get Rating)

Shaw Communications Inc operates as a connectivity company in North America. The company operates through Wireline and Wireless segments. The company's Wireline segment provides cable telecommunications services, including video, Internet, WiFi, phone, satellite video, and data networking through a national fibre-optic backbone network to Canadian consumers, North American businesses, and public-sector entities.

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