Shaw Communications Inc. (SJR) Upgraded by BidaskClub to Hold
Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
Several other equities analysts have also weighed in on SJR. Canaccord Genuity set a $28.00 target price on Shaw Communications and gave the company a “hold” rating in a report on Monday, May 1st. Zacks Investment Research upgraded Shaw Communications from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Thursday, June 15th. Finally, National Bank Financial lowered Shaw Communications from an “outperform market weight” rating to a “sector perform market weight” rating in a report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $27.00.
Shares of Shaw Communications (SJR) traded up 0.09% during midday trading on Tuesday, reaching $22.04. The company’s stock had a trading volume of 88,659 shares. Shaw Communications has a 52 week low of $19.02 and a 52 week high of $23.31. The stock has a 50-day moving average price of $21.90 and a 200 day moving average price of $21.44. The stock has a market capitalization of $10.87 billion, a PE ratio of 26.72 and a beta of 0.91.
Shaw Communications (NYSE:SJR) (TSE:SJR.B) last posted its earnings results 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 return on equity of 9.31% and a net margin of 10.01%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the company earned $0.11 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. Equities analysts forecast that Shaw Communications will post $1.05 earnings per share for the current year.
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Several institutional investors have recently bought and sold shares of the company. Advisor Group Inc. raised its position in Shaw Communications by 170.3% in the second quarter. Advisor Group Inc. now owns 4,687 shares of the company’s stock worth $101,000 after buying an additional 2,953 shares during the last quarter. Cutler Group LP raised its position in Shaw Communications by 983.3% in the second quarter. Cutler Group LP now owns 6,500 shares of the company’s stock worth $141,000 after buying an additional 5,900 shares during the last quarter. Fort Washington Investment Advisors Inc. OH acquired a new position in Shaw Communications during the first quarter worth approximately $204,000. Wetherby Asset Management Inc. acquired a new position in Shaw Communications during the first quarter worth approximately $205,000. Finally, US Bancorp DE raised its position in Shaw Communications by 14.6% in the second quarter. US Bancorp DE now owns 9,921 shares of the company’s stock worth $217,000 after buying an additional 1,267 shares during the last quarter. Institutional investors and hedge funds own 53.35% of the company’s stock.
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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