Shaw Communications Inc. (SJR) Downgraded by Zacks Investment Research

Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Shaw Communications completed the sale of its data center operations – ViaWest to Peak 10 Holding Corp. and the purchase of wireless spectrums from Quebecor Media. The company’s rating outlook upgradation by Moody’s Investor Services was a major positive. Massive growth of cable TV subscribers from its Consumer and Wireless divisions marks a major gain for the company. The company has placed itself as a pure-play Canadian telecom company with the divesture of its arm, Shaw Media to Corus Entertainment. However, the company operates in a highly competitive Canadian wireless market. The accumulating debt and decreasing cash flows is likely to escalate expenses going ahead. Rolling out of new brands and advertising promotion also raises expenses, which may impact margins moving ahead. On a year-to-date basis, the stock price grew 13.5% as against the industry's growth of 13.9%.”

Other equities analysts have also issued reports about the stock. BidaskClub upgraded shares of Shaw Communications from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. 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. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Shaw Communications has an average rating of “Hold” and an average target price of $27.14.

Shaw Communications (SJR) traded up 0.44% on Tuesday, reaching $22.86. 123,698 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $22.64 and its 200 day moving average price is $21.85. Shaw Communications has a 52-week low of $19.02 and a 52-week high of $23.31. The firm has a market capitalization of $11.28 billion, a PE ratio of 26.52 and a beta of 0.91.

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A number of institutional investors and hedge funds have recently bought and sold shares of the business. Advisor Group Inc. increased its position in shares of Shaw Communications by 170.3% during the second quarter. Advisor Group Inc. now owns 4,687 shares of the company’s stock worth $101,000 after acquiring an additional 2,953 shares in the last quarter. Cutler Group LP increased its position in shares of Shaw Communications by 983.3% during the second quarter. Cutler Group LP now owns 6,500 shares of the company’s stock worth $141,000 after acquiring an additional 5,900 shares in the last quarter. US Bancorp DE increased its position in shares of Shaw Communications by 14.6% during the second quarter. US Bancorp DE now owns 9,921 shares of the company’s stock worth $217,000 after acquiring an additional 1,267 shares in the last quarter. Wetherby Asset Management Inc. increased its position in shares of Shaw Communications by 4.4% during the second quarter. Wetherby Asset Management Inc. now owns 10,332 shares of the company’s stock worth $225,000 after acquiring an additional 439 shares in the last quarter. Finally, Ameriprise Financial Inc. bought a new stake in shares of Shaw Communications during the second quarter worth $252,000. Institutional investors own 51.83% 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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