Shaw Communications Inc (NYSE:SJR) (TSE:SJR.B) announced a — dividend on Tuesday, January 14th, Wall Street Journal reports. Investors of record on Friday, March 13th will be paid a dividend of 0.0757 per share on Monday, March 30th. This represents a dividend yield of 4.6%. The ex-dividend date is Thursday, March 12th. This is a positive change from Shaw Communications’s previous — dividend of $0.08.
Shaw Communications has raised its dividend by an average of 9.9% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Shaw Communications has a payout ratio of 109.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Shaw Communications to earn $1.16 per share next year, which means the company may not be able to cover its $1.19 annual dividend with an expected future payout ratio of 102.6%.
Shares of SJR stock traded down $0.45 during trading on Tuesday, hitting $19.78. The company had a trading volume of 941,863 shares, compared to its average volume of 337,478. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.75 and a current ratio of 0.78. The firm has a market capitalization of $10.03 billion, a P/E ratio of 18.31, a price-to-earnings-growth ratio of 4.13 and a beta of 0.71. The stock’s 50-day moving average price is $20.32 and its 200 day moving average price is $19.98. Shaw Communications has a one year low of $18.69 and a one year high of $21.08.
Shaw Communications (NYSE:SJR) (TSE:SJR.B) last issued its quarterly earnings results on Monday, January 13th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.03. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Shaw Communications had a return on equity of 11.92% and a net margin of 13.76%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 earnings per share. On average, research analysts anticipate that Shaw Communications will post 1.09 earnings per share for the current fiscal year.
Separately, TD Securities downgraded shares of Shaw Communications to a “buy” rating and set a $32.00 price objective for the company. in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $28.25.
About Shaw Communications
Shaw Communications Inc operates as a connectivity company in North America. The company operates through Wireline and Wireless segments. The Wireline segment provides broadband Internet, Shaw Go WiFi, video, and digital phone services to residential customers; and Internet, data, WiFi, digital phone, and video services to business customers.
Receive News & Ratings for Shaw Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shaw Communications and related companies with MarketBeat.com's FREE daily email newsletter.