BidaskClub Downgrades Shaw Communications Inc. (NYSE:SJR) to Sell
BidaskClub cut shares of Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) from a hold rating to a sell rating in a report issued on Wednesday.
Several other brokerages have also weighed in on SJR. Canaccord Genuity set a $28.00 price objective on shares of Shaw Communications and gave the company a hold rating in a report on Monday, May 1st. Citigroup Inc. started coverage on shares of Shaw Communications in a report on Thursday, April 6th. They issued a sell rating on the stock. Zacks Investment Research upgraded shares of Shaw Communications from a hold rating to a buy rating and set a $25.00 price objective on the stock in a report on Thursday, June 15th. Finally, National Bank Financial lowered shares of Shaw Communications from an outperform market weight rating to a sector perform market weight rating in a report on Wednesday, June 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $27.00.
Shaw Communications (SJR) opened at 22.18 on Wednesday. The firm has a market cap of $10.94 billion, a price-to-earnings ratio of 27.02 and a beta of 0.91. Shaw Communications has a 52-week low of $19.02 and a 52-week high of $23.31. The firm has a 50-day moving average of $22.03 and a 200 day moving average of $21.29.
Shaw Communications (NYSE:SJR) (TSE:SJR.B) last announced its quarterly earnings data on Wednesday, June 28th. The company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.19. Shaw Communications had a net margin of 10.01% and a return on equity of 9.31%. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the business posted $0.11 earnings per share. Shaw Communications’s revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts forecast that Shaw Communications will post $1.06 earnings per share for the current year.
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The company also recently announced a monthly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Wednesday, November 15th will be paid a $0.0744 dividend. This represents a $0.89 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend is Tuesday, November 14th. Shaw Communications’s payout ratio is presently 113.75%.
Large investors have recently modified their holdings of the stock. Cutler Group LP increased its stake in shares of Shaw Communications by 983.3% in the second quarter. Cutler Group LP now owns 6,500 shares of the company’s stock valued at $141,000 after buying an additional 5,900 shares during the last quarter. Fort Washington Investment Advisors Inc. OH purchased a new stake in shares of Shaw Communications during the first quarter valued at approximately $204,000. Wetherby Asset Management Inc. purchased a new stake in shares of Shaw Communications during the first quarter valued at approximately $205,000. US Bancorp DE increased its stake in shares of Shaw Communications by 14.6% in the second quarter. US Bancorp DE now owns 9,921 shares of the company’s stock valued at $217,000 after buying an additional 1,267 shares during the last quarter. Finally, Greenleaf Trust increased its stake in shares of Shaw Communications by 1.7% in the first quarter. Greenleaf Trust now owns 11,228 shares of the company’s stock valued at $233,000 after buying an additional 190 shares during the last quarter. 50.16% of the stock is owned by hedge funds and other institutional investors.
Shaw Communications Company Profile
Shaw Communications Inc (Shaw) is a diversified connectivity provider. The Company operates through four divisions: Consumer, Wireless, Business Network Services and Business Infrastructure Services. Under the Consumer division, the Company offers Cable telecommunications and Satellite video services to residential customers.
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