Zacks Investment Research Upgrades Shaw Communications Inc. (SJR) to Hold

Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday.

According to Zacks, “Shaw Communications posted mixed fourth-quarter fiscal 2017 financial results. Meanwhile, we are bullish about Shaw Communications’ recent initiatives – sale of its data center operations – ViaWest to Peak 10 Holding Corp. and using the net proceeds from ViaWest sale for the purchase of wireless spectrums from Quebecor Media. The company’s rating outlook upgradation by Moody’s Investor Services was a major positive. 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. Over the past three months, the stock underperformed its industry.”

Other research analysts also recently issued reports about the company. Barclays PLC increased their target price on Shaw Communications from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, October 27th. BidaskClub downgraded Shaw Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Scotiabank downgraded Shaw Communications from an “outperform” rating to a “sector perform” rating in a research report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Shaw Communications presently has a consensus rating of “Hold” and an average price target of $27.29.

Shaw Communications (SJR) opened at 22.84 on Monday. The firm’s 50 day moving average is $22.52 and its 200 day moving average is $21.99. Shaw Communications has a 1-year low of $19.02 and a 1-year high of $23.31. The stock has a market capitalization of $11.27 billion, a P/E ratio of 26.50 and a beta of 0.91.

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Large investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. raised its holdings in Shaw Communications by 170.3% during the 2nd quarter. Advisor Group Inc. now owns 4,687 shares of the company’s stock valued at $101,000 after buying an additional 2,953 shares during the period. Cutler Group LP raised its holdings in Shaw Communications by 983.3% during the 2nd quarter. Cutler Group LP now owns 6,500 shares of the company’s stock valued at $141,000 after buying an additional 5,900 shares during the period. US Bancorp DE raised its holdings in Shaw Communications by 14.6% during the 2nd quarter. US Bancorp DE now owns 9,921 shares of the company’s stock valued at $217,000 after buying an additional 1,267 shares during the period. Wetherby Asset Management Inc. raised its holdings in Shaw Communications by 4.4% during the 2nd quarter. Wetherby Asset Management Inc. now owns 10,332 shares of the company’s stock valued at $225,000 after buying an additional 439 shares during the period. Finally, Ameriprise Financial Inc. purchased a new stake in Shaw Communications during the 2nd quarter valued at $252,000. Institutional investors own 51.90% 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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