Shaw Communications (NYSE:SJR) Upgraded to “Buy” by 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 report published on Tuesday, MarketBeat reports.

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

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

Shaw Communications (NYSE:SJRGet Rating) (TSE:SJR.B) last issued 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). Shaw Communications had a net margin of 18.19% and a return on equity of 16.57%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the company posted $0.34 earnings per share. Shaw Communications’s revenue was down 2.0% compared to the same quarter last year. As a group, research analysts predict that Shaw Communications will post 1.26 earnings per share for the current year.

The business also recently announced a monthly dividend, which will be paid on Thursday, July 28th. Shareholders of record on Friday, July 15th will be given a dividend of $0.0767 per share. The ex-dividend date of this dividend is Thursday, July 14th. This represents a $0.92 dividend on an annualized basis and a yield of 3.17%. Shaw Communications’s payout ratio is currently 59.49%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Northern Trust Corp lifted its position in Shaw Communications by 2.7% in the fourth quarter. Northern Trust Corp now owns 187,367 shares of the company’s stock worth $5,685,000 after purchasing an additional 4,887 shares during the period. Alliancebernstein L.P. increased its stake in shares of Shaw Communications by 2.6% in the fourth quarter. Alliancebernstein L.P. now owns 884,282 shares of the company’s stock valued at $26,829,000 after buying an additional 22,568 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Shaw Communications by 16.2% in the fourth quarter. Quadrant Capital Group LLC now owns 5,892 shares of the company’s stock valued at $179,000 after buying an additional 821 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Shaw Communications by 2.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,252,120 shares of the company’s stock valued at $129,146,000 after buying an additional 111,625 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Shaw Communications by 16.6% in the fourth quarter. Bank of Montreal Can now owns 14,888,390 shares of the company’s stock valued at $452,076,000 after buying an additional 2,123,548 shares in the last quarter. 56.04% of the stock is owned by institutional investors.

Shaw Communications Company Profile (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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