Cormark Equities Analysts Lower Earnings Estimates for Shaw Communications Inc. (SJR)
Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) – Equities researchers at Cormark lowered their FY2018 earnings per share estimates for shares of Shaw Communications in a research report issued on Wednesday. Cormark analyst D. Mcfadgen now anticipates that the company will post earnings per share of $0.99 for the year, down from their prior estimate of $1.03.
SJR has been the subject of a number of other reports. Citigroup Inc. started coverage on Shaw Communications in a report on Thursday, April 6th. They issued a “sell” rating for the company. BidaskClub downgraded Shaw Communications from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Zacks Investment Research upgraded Shaw Communications from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Thursday, June 15th. Canaccord Genuity restated a “hold” rating and issued a $28.00 price objective on shares of Shaw Communications in a report on Thursday, April 13th. Finally, National Bank Financial downgraded Shaw Communications from an “outperform market weight” rating to a “sector perform market weight” rating in a report on Wednesday, June 28th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $27.00.
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Shares of Shaw Communications (NYSE:SJR) traded up 0.09% during midday trading on Friday, hitting $22.14. The company had a trading volume of 215,328 shares. Shaw Communications has a one year low of $19.02 and a one year high of $23.31. The stock’s 50-day moving average price is $22.03 and its 200-day moving average price is $21.29. The stock has a market capitalization of $10.92 billion, a price-to-earnings ratio of 26.97 and a beta of 0.91.
Shaw Communications (NYSE:SJR) (TSE:SJR.B) last announced its quarterly earnings data on Wednesday, June 28th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.19. Shaw Communications had a return on equity of 9.31% and a net margin of 10.01%. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the firm earned $0.11 earnings per share. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year.
The firm also recently declared a monthly dividend, which will be paid on Wednesday, November 29th. Investors of record on Wednesday, November 15th will be given a $0.0744 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.89 annualized dividend and a yield of 4.04%. Shaw Communications’s payout ratio is 113.75%.
Institutional investors have recently made changes to their positions in the stock. Cutler Group LP boosted its stake 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 period. Fort Washington Investment Advisors Inc. OH bought a new stake in Shaw Communications during the first quarter worth approximately $204,000. Wetherby Asset Management Inc. bought a new stake in Shaw Communications during the first quarter worth approximately $205,000. US Bancorp DE boosted its stake 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 period. Finally, Greenleaf Trust boosted its stake 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 period. 50.16% of the stock is currently owned by institutional investors and hedge funds.
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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