Shaw Communications Inc. to Post FY2017 Earnings of $1.16 Per Share, Cormark Forecasts (SJR)
Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) – Equities researchers at Cormark increased their FY2017 earnings per share (EPS) estimates for Shaw Communications in a research report issued on Wednesday. Cormark analyst D. Mcfadgen now expects that the company will post earnings per share of $1.16 for the year, up from their prior forecast of $1.08. Cormark also issued estimates for Shaw Communications’ FY2019 earnings at $1.13 EPS.
Shaw Communications (NYSE:SJR) (TSE:SJR.B) last released its earnings results on Wednesday, June 28th. The company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.19. Shaw Communications had a return on equity of 9.31% and a net margin of 10.01%. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the business posted $0.11 EPS. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. COPYRIGHT VIOLATION WARNING: “Shaw Communications Inc. to Post FY2017 Earnings of $1.16 Per Share, Cormark Forecasts (SJR)” was first posted by American Banking News and is owned by of American Banking News. If you are reading this news story on another website, it was illegally copied and reposted in violation of international copyright & trademark laws. The original version of this news story can be read at https://www.americanbankingnews.com/2017/07/20/shaw-communications-inc-to-post-fy2017-earnings-of-1-16-per-share-cormark-forecasts-sjr.html.
SJR has been the topic of a number of other research reports. Canaccord Genuity reaffirmed a “hold” rating and set a $28.00 price target on shares of Shaw Communications in a research report on Thursday, April 13th. Zacks Investment Research lowered Shaw Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, March 22nd. National Bank Financial lowered Shaw Communications from an “outperform market weight” rating to a “sector perform market weight” rating in a research report on Wednesday, June 28th. BidaskClub raised Shaw Communications from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Finally, Citigroup Inc. assumed coverage on Shaw Communications in a research report on Thursday, April 6th. They set a “sell” rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $27.00.
Shaw Communications (NYSE:SJR) opened at 22.13 on Thursday. Shaw Communications has a 1-year low of $19.02 and a 1-year high of $23.31. The stock has a market cap of $10.92 billion, a PE ratio of 26.95 and a beta of 0.91. The firm’s 50-day moving average price is $22.01 and its 200 day moving average price is $21.29.
Several hedge funds and other institutional investors have recently bought and sold shares of SJR. Cutler Group LP increased its position in Shaw Communications by 983.3% in the second quarter. Cutler Group LP now owns 6,500 shares of the company’s stock worth $141,000 after buying an additional 5,900 shares during the last quarter. Fort Washington Investment Advisors Inc. OH purchased a new position in Shaw Communications during the first quarter worth about $204,000. Wetherby Asset Management Inc. purchased a new position in Shaw Communications during the first quarter worth about $205,000. US Bancorp DE increased its position in Shaw Communications by 14.6% in the second quarter. US Bancorp DE now owns 9,921 shares of the company’s stock worth $217,000 after buying an additional 1,267 shares during the last quarter. Finally, Greenleaf Trust increased its position in Shaw Communications by 1.7% in the first quarter. Greenleaf Trust now owns 11,228 shares of the company’s stock worth $233,000 after buying an additional 190 shares during the last quarter. Institutional investors and hedge funds own 50.16% of the company’s stock.
The company also recently disclosed a monthly dividend, which will be paid on Wednesday, November 29th. Investors of record on Wednesday, November 15th will be issued a dividend of $0.0744 per share. The ex-dividend date is Tuesday, November 14th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 4.04%. Shaw Communications’s payout ratio is presently 113.75%.
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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