Shaw Communications’ (SJR) “Outperform” Rating Reiterated at Scotiabank
Scotiabank reaffirmed their outperform rating on shares of Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) in a research report report published on Thursday. They currently have a $29.00 target price on the stock.
Several other equities research analysts have also commented on the company. Zacks Investment Research upgraded Shaw Communications from a hold rating to a strong-buy rating and set a $23.00 price target for the company in a research note on Monday, September 19th. Barclays PLC restated an equal weight rating and set a $27.00 price target (up from $26.00) on shares of Shaw Communications in a research note on Thursday, November 3rd. TD Securities restated a buy rating and set a $29.00 price target on shares of Shaw Communications in a research note on Thursday, November 3rd. Finally, Canaccord Genuity restated a hold rating on shares of Shaw Communications in a research note on Wednesday, November 2nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. Shaw Communications currently has a consensus rating of Hold and an average price target of $26.13.
Shares of Shaw Communications (NYSE:SJR) opened at 19.75 on Thursday. The stock has a market cap of $9.60 billion, a PE ratio of 10.64 and a beta of 0.93. Shaw Communications has a 1-year low of $15.66 and a 1-year high of $21.08. The company’s 50-day moving average price is $19.71 and its 200 day moving average price is $19.68.
Shaw Communications (NYSE:SJR) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.01. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $968.39 million. Shaw Communications had a return on equity of 11.74% and a net margin of 23.90%. The business’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.57 earnings per share. Equities analysts forecast that Shaw Communications will post $0.94 EPS for the current fiscal year.
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The business also recently announced a monthly dividend, which will be paid on Monday, February 27th. Stockholders of record on Wednesday, February 15th will be paid a $0.0738 dividend. The ex-dividend date is Monday, February 13th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 4.48%. Shaw Communications’s dividend payout ratio (DPR) is currently 46.32%.
Large investors have recently bought and sold shares of the stock. I.G. Investment Management LTD. raised its stake in shares of Shaw Communications by 8.3% in the second quarter. I.G. Investment Management LTD. now owns 43,728,358 shares of the company’s stock worth $839,483,000 after buying an additional 3,342,182 shares during the period. 1832 Asset Management L.P. raised its stake in shares of Shaw Communications by 8.3% in the third quarter. 1832 Asset Management L.P. now owns 10,273,368 shares of the company’s stock worth $210,322,000 after buying an additional 784,729 shares during the period. Vanguard Group Inc. raised its stake in shares of Shaw Communications by 12.0% in the second quarter. Vanguard Group Inc. now owns 8,332,950 shares of the company’s stock worth $159,993,000 after buying an additional 890,937 shares during the period. Bank of Montreal Can acquired a new stake in shares of Shaw Communications during the second quarter worth $152,929,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Shaw Communications during the third quarter worth $153,384,000. Institutional investors and hedge funds own 53.56% of the company’s stock.
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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