Shaw Communications Inc. (SJR) Upgraded to “Strong-Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Shaw Communications Inc. (NYSE:SJR) from a hold rating to a strong-buy rating in a research report report published on Monday morning. The firm currently has $23.00 price objective on the stock.
According to Zacks, “Shaw Communications’ recent divestiture of its subsidiary Shaw Media Inc. to Corus Entertainment Inc., places Shaw Communications as a pure-play Canadian telecom company with a solid growth profile. Further, venture into the Canadian wireless market will be beneficial for it. The company’s recent launch of mobile TV platform – FreeRange TV and its SmartWiFi and SmartSecurity Services should gain traction. The company is also launching high speed internet services and is entering into tie-ups to boost cloud suit. However, competitive wireless market, considerable debt, escalating capital expenditure, deteriorating cash position, rolling out of new brands and advertising promotion is likely to escalate expenses going ahead and may act as headwinds. “
Other analysts have also recently issued reports about the stock. National Bank Financial upgraded shares of Shaw Communications from a sector perform rating to an outperform rating and raised their price target for the stock from $24.50 to $27.00 in a report on Monday, July 11th. BMO Capital Markets restated a hold rating on shares of Shaw Communications in a report on Monday, July 18th. RBC Capital Markets restated a sector perform rating and set a $25.00 price target on shares of Shaw Communications in a report on Tuesday, July 19th. Canaccord Genuity restated a hold rating and set a $24.00 price target (down from $25.00) on shares of Shaw Communications in a report on Friday, July 15th. Finally, TD Securities restated a buy rating and set a $28.00 price target on shares of Shaw Communications in a report on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $25.56.
Shaw Communications (NYSE:SJR) opened at 19.63 on Monday. The stock has a market capitalization of $9.49 billion, a P/E ratio of 9.16 and a beta of 0.85. The stock has a 50 day moving average of $20.14 and a 200 day moving average of $19.27. Shaw Communications has a 52 week low of $15.66 and a 52 week high of $21.41.
Shaw Communications (NYSE:SJR) last announced its earnings results on Friday, July 15th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.35 by $0.24. Shaw Communications had a return on equity of 12.48% and a net margin of 26.04%. The firm earned $1.28 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the previous year, the business earned $0.42 earnings per share. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, equities research analysts predict that Shaw Communications will post $0.87 earnings per share for the current fiscal year.
The company also recently declared a sep 16 dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be given a $0.0988 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. Shaw Communications’s dividend payout ratio is 43.33%.
Institutional investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board raised its position in Shaw Communications by 0.4% in the first quarter. Canada Pension Plan Investment Board now owns 7,272 shares of the company’s stock worth $141,000 after buying an additional 28 shares in the last quarter. US Bancorp DE increased its stake in shares of Shaw Communications by 63.4% in the second quarter. US Bancorp DE now owns 7,867 shares of the company’s stock valued at $151,000 after buying an additional 3,053 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Shaw Communications during the second quarter valued at about $216,000. Eqis Capital Management Inc. bought a new stake in shares of Shaw Communications during the second quarter valued at about $218,000. Finally, Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Shaw Communications during the second quarter valued at about $266,000. 52.12% of the stock is currently owned by institutional investors.
Shaw Communications Company Profile
Shaw Communications Inc (Shaw) is a communication company. The Company’s operating segments are Consumer, Business Network Services, Business Infrastructure Services and Media. The Consumer division provides cable telecommunications services, including video, Internet, wireless fidelity (WiFi) and digital phone, and satellite video to Canadian consumers.
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