Shaw Communications Inc (NYSE:SJR) (TSE:SJR.B) – Equities researchers at National Bank Financial cut their FY2018 EPS estimates for Shaw Communications in a research note issued to investors on Thursday. National Bank Financial analyst A. Shine now anticipates that the company will post earnings of $0.96 per share for the year, down from their prior forecast of $1.02. National Bank Financial also issued estimates for Shaw Communications’ FY2019 earnings at $1.09 EPS.
SJR has been the topic of several other research reports. Barclays PLC upped their price target on Shaw Communications from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday. Zacks Investment Research upgraded Shaw Communications from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Monday, October 2nd. BidaskClub downgraded Shaw Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Scotiabank downgraded Shaw Communications from an “outperform” rating to a “sector perform” rating in a research note on Thursday, October 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $27.29.
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Shares of Shaw Communications (NYSE SJR) traded up 1.42% during midday trading on Monday, reaching $22.90. The company’s stock had a trading volume of 909,748 shares. The stock has a market cap of $11.30 billion, a price-to-earnings ratio of 26.57 and a beta of 0.91. The stock has a 50-day moving average price of $22.52 and a 200-day moving average price of $21.98. Shaw Communications has a 52-week low of $19.02 and a 52-week high of $23.31.
Several hedge funds have recently added to or reduced their stakes in the company. Cidel Asset Management Inc. boosted its stake in shares of Shaw Communications by 5.8% in the 3rd quarter. Cidel Asset Management Inc. now owns 249,514 shares of the company’s stock worth $5,728,000 after buying an additional 13,782 shares during the last quarter. Intact Investment Management Inc. boosted its stake in shares of Shaw Communications by 50.2% in the 3rd quarter. Intact Investment Management Inc. now owns 974,000 shares of the company’s stock worth $27,943,000 after buying an additional 325,600 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of Shaw Communications in the 3rd quarter worth $1,689,000. Highstreet Asset Management Inc. boosted its stake in shares of Shaw Communications by 1.5% in the 3rd quarter. Highstreet Asset Management Inc. now owns 524,427 shares of the company’s stock worth $12,071,000 after buying an additional 7,532 shares during the last quarter. Finally, APG Asset Management N.V. boosted its stake in shares of Shaw Communications by 3.7% in the 3rd quarter. APG Asset Management N.V. now owns 575,781 shares of the company’s stock worth $13,222,000 after buying an additional 20,500 shares during the last quarter. Hedge funds and other institutional investors own 51.90% of the company’s stock.
The company also recently declared a monthly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Thursday, February 15th will be paid a $0.0781 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 4.15%. Shaw Communications’s dividend payout ratio (DPR) is currently 71.43%.
About Shaw Communications
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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