Shaw Communications Inc. (SJR) to Post Q4 2017 Earnings of $0.23 Per Share, Desjardins Forecasts
Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) – Desjardins reduced their Q4 2017 EPS estimates for shares of Shaw Communications in a note issued to investors on Tuesday. Desjardins analyst M. Yaghi now expects that the company will earn $0.23 per share for the quarter, down from their prior estimate of $0.25. Desjardins also issued estimates for Shaw Communications’ FY2018 earnings at $1.11 EPS.
A number of other research firms also recently commented on SJR. Zacks Investment Research upgraded Shaw Communications from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Monday, October 2nd. Scotiabank downgraded Shaw Communications from an “outperform” rating to a “sector perform” rating in a research report on Thursday, October 12th. BidaskClub upgraded Shaw Communications from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Finally, National Bank Financial downgraded Shaw Communications from an “outperform market weight” rating to a “sector perform market weight” rating in a research report on Wednesday, June 28th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $27.14.
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Shaw Communications (NYSE:SJR) traded down 0.32% on Thursday, reaching $21.91. The company had a trading volume of 143,211 shares. The company’s 50-day moving average is $22.69 and its 200-day moving average is $21.92. The company has a market capitalization of $10.81 billion, a PE ratio of 25.42 and a beta of 0.91. Shaw Communications has a 52-week low of $19.02 and a 52-week high of $23.31.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TD Asset Management Inc. raised its holdings in shares of Shaw Communications by 2.4% in the second quarter. TD Asset Management Inc. now owns 14,888,198 shares of the company’s stock worth $324,315,000 after acquiring an additional 342,269 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Shaw Communications by 4.9% in the second quarter. Vanguard Group Inc. now owns 10,078,962 shares of the company’s stock worth $219,621,000 after acquiring an additional 468,447 shares during the last quarter. Mawer Investment Management Ltd. raised its holdings in shares of Shaw Communications by 1.4% in the second quarter. Mawer Investment Management Ltd. now owns 9,508,434 shares of the company’s stock worth $207,499,000 after acquiring an additional 133,961 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Shaw Communications by 57.1% in the second quarter. CIBC Asset Management Inc now owns 6,970,061 shares of the company’s stock worth $151,878,000 after acquiring an additional 2,533,410 shares during the last quarter. Finally, CIBC World Markets Inc. raised its holdings in shares of Shaw Communications by 3.5% in the second quarter. CIBC World Markets Inc. now owns 5,654,025 shares of the company’s stock worth $123,201,000 after acquiring an additional 190,230 shares during the last quarter. 51.77% of the stock is owned by institutional investors.
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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