Shaw Communications Inc. (SJR) Forecasted to Post FY2017 Earnings of $0.98 Per Share
Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) – Stock analysts at Desjardins increased their FY2017 earnings estimates for Shaw Communications in a research report issued on Tuesday. Desjardins analyst M. Yaghi now forecasts that the company will post earnings per share of $0.98 for the year, up from their previous forecast of $0.93.
Several other brokerages also recently weighed in on SJR. BidaskClub downgraded shares of Shaw Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Zacks Investment Research raised shares of Shaw Communications from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Tuesday, September 19th. Scotiabank downgraded shares of Shaw Communications from an “outperform” rating to a “sector perform” rating in a research note on Thursday, October 12th. Finally, National Bank Financial downgraded shares of Shaw Communications from an “outperform market weight” rating to a “sector perform market weight” rating in a research note on Wednesday, June 28th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $27.14.
Shares of Shaw Communications (NYSE SJR) opened at 22.11 on Wednesday. The stock has a market capitalization of $10.91 billion, a P/E ratio of 25.65 and a beta of 0.91. Shaw Communications has a one year low of $19.02 and a one year high of $23.31. The company’s 50-day moving average is $22.71 and its 200-day moving average is $21.90.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisor Group Inc. increased its position in Shaw Communications by 170.3% during the 2nd quarter. Advisor Group Inc. now owns 4,687 shares of the company’s stock worth $101,000 after purchasing an additional 2,953 shares in the last quarter. Cutler Group LP increased its position in Shaw Communications by 983.3% during the 2nd quarter. Cutler Group LP now owns 6,500 shares of the company’s stock worth $141,000 after purchasing an additional 5,900 shares in the last quarter. US Bancorp DE increased its position in Shaw Communications by 14.6% during the 2nd quarter. US Bancorp DE now owns 9,921 shares of the company’s stock worth $217,000 after purchasing an additional 1,267 shares in the last quarter. Wetherby Asset Management Inc. increased its position in Shaw Communications by 4.4% during the 2nd quarter. Wetherby Asset Management Inc. now owns 10,332 shares of the company’s stock worth $225,000 after purchasing an additional 439 shares in the last quarter. Finally, Ameriprise Financial Inc. acquired a new stake in Shaw Communications during the 2nd quarter worth approximately $252,000. 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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