Shaw Communications Downgraded to Neutral at Merrill Lynch (SJR)
Shaw Communications (NYSE:SJR) was downgraded by research analysts at Merrill Lynch to a “neutral” rating in a report released on Wednesday, StockRatingsNetwork.com reports.
Shaw Communications (NYSE:SJR) traded down 0.62% during mid-day trading on Wednesday, hitting $22.62. The stock had a trading volume of 1,346,795 shares. Shaw Communications has a 52 week low of $21.32 and a 52 week high of $25.46. The stock has a 50-day moving average of $23.58 and a 200-day moving average of $23.91. The company has a market cap of $10.243 billion and a price-to-earnings ratio of 13.70.
Shaw Communications (NYSE:SJR) last announced its earnings results on Monday, January 13th. The company reported $0.51 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.50 by $0.01. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the company posted $0.49 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis. On average, analysts predict that Shaw Communications will post $1.65 earnings per share for the current fiscal year.
The company also recently declared a monthly dividend, which is scheduled for Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of 0.0845 per share. This represents a $1.01 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date of this dividend is Wednesday, March 12th.
SJR has been the subject of a number of other recent research reports. Analysts at Bank of America Corp. downgraded shares of Shaw Communications from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday. Separately, analysts at RBC Capital reiterated a “sector perform” rating on shares of Shaw Communications in a research note to investors on Friday, January 10th. Finally, analysts at Barclays initiated coverage on shares of Shaw Communications in a research note to investors on Wednesday, November 6th. They set an “equal weight” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Shaw Communications currently has a consensus rating of “Hold” and an average target price of $25.05.
Shaw Communications Inc (NYSE:SJR) is a diversified Canadian communications company.
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