Shaw Communications Inc. (SJR) Given Outperform Rating at Scotiabank
Scotiabank reaffirmed their outperform rating on shares of Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) in a report released on Thursday. Scotiabank currently has a $29.00 price objective on the stock.
Other equities research analysts have also issued reports about the stock. TD Securities reissued a buy rating and set a $29.00 target price on shares of Shaw Communications in a report on Thursday, November 3rd. Barclays PLC reaffirmed an equal weight rating and issued a $27.00 price objective (up from $26.00) on shares of Shaw Communications in a research note on Thursday, November 3rd. Canaccord Genuity reaffirmed a hold rating on shares of Shaw Communications in a research note on Friday, October 21st. Finally, Zacks Investment Research lowered shares of Shaw Communications from a strong-buy rating to a hold rating in a research note on Tuesday, September 20th. 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 company. The company has a consensus rating of Hold and an average price target of $26.13.
Shares of Shaw Communications (NYSE:SJR) opened at 19.49 on Thursday. The firm has a market capitalization of $9.48 billion, a price-to-earnings ratio of 10.43 and a beta of 0.93. Shaw Communications has a one year low of $15.66 and a one year high of $21.08. The company’s 50 day moving average is $19.75 and its 200-day moving average is $19.65.
Shaw Communications (NYSE:SJR) last posted its earnings results on Wednesday, November 2nd. The company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.01. Shaw Communications had a return on equity of 11.74% and a net margin of 23.90%. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $968.39 million. During the same period in the previous year, the firm earned $0.57 earnings per share. The company’s revenue was up 15.5% compared to the same quarter last year. Equities analysts expect that Shaw Communications will post $0.94 EPS for the current year.
The firm also recently announced a monthly dividend, which will be paid on Monday, February 27th. Shareholders of record on Wednesday, February 15th will be given a dividend of $0.0738 per share. The ex-dividend date of this dividend is Monday, February 13th. This represents a $0.89 dividend on an annualized basis and a yield of 4.54%. Shaw Communications’s dividend payout ratio is presently 46.32%.
A number of institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in shares of Shaw Communications by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 670,723 shares of the company’s stock worth $12,878,000 after buying an additional 6,359 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Shaw Communications by 1.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,182,741 shares of the company’s stock worth $22,600,000 after buying an additional 16,497 shares during the last quarter. K.J. Harrison & Partners Inc increased its stake in shares of Shaw Communications by 6.8% in the second quarter. K.J. Harrison & Partners Inc now owns 99,631 shares of the company’s stock worth $1,899,000 after buying an additional 6,310 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of Shaw Communications during the second quarter worth about $152,929,000. Finally, Highstreet Asset Management Inc. increased its stake in shares of Shaw Communications by 12.6% in the second quarter. Highstreet Asset Management Inc. now owns 123,902 shares of the company’s stock worth $2,378,000 after buying an additional 13,860 shares during the last quarter. Hedge funds and other institutional investors own 53.20% of the company’s stock.
About Shaw Communications
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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