Shaw Communications’ (SJR) Neutral Rating Reaffirmed at Bank of America

Bank of America restated their neutral rating on shares of Shaw Communications (NYSE:SJR) (TSE:SJR.B) in a report issued on Tuesday. Bank of America currently has a $32.00 price target on the stock.

Several other research analysts also recently commented on the stock. Scotiabank downgraded shares of Shaw Communications from an outperform rating to a sector perform rating in a research note on Thursday, October 12th. Zacks Investment Research downgraded shares of Shaw Communications from a buy rating to a hold rating in a research note on Tuesday, October 10th. TheStreet raised shares of Shaw Communications from a c rating to a b- rating in a research report on Monday, October 30th. Barclays raised their target price on shares of Shaw Communications from $21.00 to $22.00 and gave the company an equal weight rating in a research report on Friday, October 27th. Finally, BidaskClub raised shares of Shaw Communications from a sell rating to a hold rating in a research report on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $27.71.

Shaw Communications (SJR) traded down $0.04 during mid-day trading on Tuesday, reaching $22.87. 163,346 shares of the company traded hands, compared to its average volume of 498,760. The stock has a market cap of $10,920.37, a P/E ratio of 26.97, a PEG ratio of 4.51 and a beta of 0.95. Shaw Communications has a 52 week low of $19.55 and a 52 week high of $23.31. The company has a quick ratio of 0.72, a current ratio of 0.80 and a debt-to-equity ratio of 0.70.

The firm also recently announced a monthly dividend, which will be paid on Tuesday, February 27th. Shareholders of record on Thursday, February 15th will be given a dividend of $0.0781 per share. This represents a $0.94 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date is Wednesday, February 14th. Shaw Communications’s dividend payout ratio (DPR) is 69.17%.

A number of hedge funds and other institutional investors have recently bought and sold shares of SJR. Advisor Group Inc. increased its position 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 purchasing an additional 2,953 shares during the period. US Bancorp DE increased its position 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 purchasing an additional 1,267 shares during the period. Wetherby Asset Management Inc. increased its position 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 purchasing an additional 439 shares during the period. Ameriprise Financial Inc. purchased a new position in Shaw Communications during the 2nd quarter valued at about $252,000. Finally, Sigma Planning Corp purchased a new position in shares of Shaw Communications in the 3rd quarter worth approximately $258,000. 52.76% of the stock is currently owned by institutional investors and hedge funds.

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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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