Shaw Communications (NYSE:SJR) Raised to Buy at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Shaw Communications (NYSE:SJRGet Rating) (TSE:SJR.B) from a hold rating to a buy rating in a research note released on Tuesday, MarketBeat.com reports.

Other research analysts have also recently issued reports about the stock. StockNews.com raised shares of Shaw Communications from a sell rating to a hold rating in a research report on Friday, April 22nd. National Bank Financial raised shares of Shaw Communications from a sector perform rating to an outperform rating in a research report on Wednesday, May 18th. Finally, Canaccord Genuity Group raised shares of Shaw Communications from a hold rating to a buy rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $40.50.

Shares of SJR stock opened at $29.04 on Tuesday. The stock has a market cap of $13.85 billion, a price-to-earnings ratio of 18.38 and a beta of 0.66. The company has a quick ratio of 0.82, a current ratio of 0.87 and a debt-to-equity ratio of 0.74. Shaw Communications has a fifty-two week low of $25.63 and a fifty-two week high of $31.60. The firm’s 50 day moving average price is $28.42 and its two-hundred day moving average price is $29.48.

Shaw Communications (NYSE:SJRGet Rating) (TSE:SJR.B) last announced its quarterly earnings results on Wednesday, April 13th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.38 billion. Shaw Communications had a net margin of 18.19% and a return on equity of 16.57%. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm earned $0.34 earnings per share. On average, equities analysts forecast that Shaw Communications will post 1.26 EPS for the current fiscal year.

The business also recently declared a monthly dividend, which will be paid on Thursday, July 28th. Investors of record on Friday, July 15th will be paid a $0.0767 dividend. The ex-dividend date is Thursday, July 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.17%. Shaw Communications’s dividend payout ratio (DPR) is presently 59.49%.

Several large investors have recently modified their holdings of the stock. Bank of America Corp DE increased its stake in shares of Shaw Communications by 47.0% in the first quarter. Bank of America Corp DE now owns 9,381,597 shares of the company’s stock worth $291,205,000 after buying an additional 2,999,641 shares during the last quarter. Angelo Gordon & CO. L.P. increased its stake in shares of Shaw Communications by 18.5% in the first quarter. Angelo Gordon & CO. L.P. now owns 385,000 shares of the company’s stock worth $11,949,000 after buying an additional 60,000 shares during the last quarter. PenderFund Capital Management Ltd. increased its stake in shares of Shaw Communications by 221.3% in the first quarter. PenderFund Capital Management Ltd. now owns 11,920 shares of the company’s stock worth $462,000 after buying an additional 8,210 shares during the last quarter. Jane Street Group LLC increased its stake in shares of Shaw Communications by 255.3% in the first quarter. Jane Street Group LLC now owns 113,667 shares of the company’s stock worth $3,528,000 after buying an additional 81,673 shares during the last quarter. Finally, Polar Asset Management Partners Inc. bought a new stake in shares of Shaw Communications in the first quarter worth $3,883,000. Institutional investors and hedge funds own 56.04% of the company’s stock.

About Shaw Communications (Get Rating)

Shaw Communications Inc operates as a connectivity company in North America. The company operates through Wireline and Wireless segments. The company's Wireline segment provides cable telecommunications services, including video, Internet, WiFi, phone, satellite video, and data networking through a national fibre-optic backbone network to Canadian consumers, North American businesses, and public-sector entities.

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