Shaw Communications (SJR) PT Set at $28.00 by Canaccord Genuity

Shaw Communications (NYSE:SJR) (TSE:SJR.B) has been assigned a $28.00 price target by equities research analysts at Canaccord Genuity in a research report issued to clients and investors on Thursday. The firm currently has a “hold” rating on the stock. Canaccord Genuity’s price target points to a potential upside of 29.81% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. Scotiabank lowered shares of Shaw Communications from an “outperform” rating to a “sector perform” rating in a report on Thursday, October 12th. Zacks Investment Research lowered shares of Shaw Communications from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Bank of America reissued a “neutral” rating and set a $32.00 price objective on shares of Shaw Communications in a report on Tuesday, December 5th. TheStreet raised shares of Shaw Communications from a “c” rating to a “b-” rating in a report on Monday, October 30th. Finally, Barclays boosted their price objective on shares of Shaw Communications from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, October 27th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Shaw Communications has a consensus rating of “Hold” and an average target price of $27.00.

Shares of Shaw Communications (SJR) traded down $0.68 on Thursday, hitting $21.57. 1,326,463 shares of the stock were exchanged, compared to its average volume of 687,370. The stock has a market capitalization of $10,810.00, a price-to-earnings ratio of 24.24, a PEG ratio of 4.53 and a beta of 0.96. The company has a quick ratio of 0.72, a current ratio of 0.80 and a debt-to-equity ratio of 0.70. Shaw Communications has a 12-month low of $20.13 and a 12-month high of $23.44.

A number of large investors have recently bought and sold shares of the business. I.G. Investment Management LTD. raised its position in shares of Shaw Communications by 0.5% in the fourth quarter. I.G. Investment Management LTD. now owns 47,066,356 shares of the company’s stock worth $943,710,000 after acquiring an additional 237,165 shares during the period. TD Asset Management Inc. raised its position 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 period. 1832 Asset Management L.P. raised its position in shares of Shaw Communications by 84.0% in the first quarter. 1832 Asset Management L.P. now owns 11,837,908 shares of the company’s stock worth $363,410,000 after acquiring an additional 5,403,324 shares during the period. Vanguard Group Inc. raised its position 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 period. Finally, Mawer Investment Management Ltd. raised its position in shares of Shaw Communications by 3.9% in the third quarter. Mawer Investment Management Ltd. now owns 9,876,821 shares of the company’s stock worth $227,473,000 after acquiring an additional 368,387 shares during the period. 52.44% of the stock is currently owned by institutional investors.

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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.