Canaccord Genuity Group Upgrades Shaw Communications (NYSE:SJR) to “Buy”

Shaw Communications (NYSE:SJRGet Rating) (TSE:SJR.B) was upgraded by stock analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Briefing.com reports.

Other equities research analysts also recently issued reports about the stock. StockNews.com raised shares of Shaw Communications from a “sell” rating to a “hold” rating in a research report on Friday, April 22nd. Canaccord Genuity Group raised shares of Shaw Communications from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, National Bank Financial raised shares of Shaw Communications from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, May 18th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $40.50.

SJR opened at $26.63 on Tuesday. Shaw Communications has a 1-year low of $25.63 and a 1-year high of $31.60. The company has a current ratio of 0.87, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74. The company has a market cap of $12.70 billion, a P/E ratio of 16.85 and a beta of 0.66. The company has a fifty day moving average price of $28.55 and a two-hundred day moving average price of $29.49.

Shaw Communications (NYSE:SJRGet Rating) (TSE:SJR.B) last posted its quarterly earnings results on Wednesday, April 13th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.01). Shaw Communications had a net margin of 18.19% and a return on equity of 16.57%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the firm posted $0.34 earnings per share. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, research analysts forecast that Shaw Communications will post 1.26 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Northern Trust Corp boosted its stake in Shaw Communications by 2.7% in the fourth quarter. Northern Trust Corp now owns 187,367 shares of the company’s stock valued at $5,685,000 after acquiring an additional 4,887 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Shaw Communications by 2.6% in the fourth quarter. Alliancebernstein L.P. now owns 884,282 shares of the company’s stock valued at $26,829,000 after acquiring an additional 22,568 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in Shaw Communications by 16.2% in the fourth quarter. Quadrant Capital Group LLC now owns 5,892 shares of the company’s stock valued at $179,000 after acquiring an additional 821 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Shaw Communications by 2.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,252,120 shares of the company’s stock valued at $129,146,000 after acquiring an additional 111,625 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of Shaw Communications by 16.6% in the fourth quarter. Bank of Montreal Can now owns 14,888,390 shares of the company’s stock valued at $452,076,000 after purchasing an additional 2,123,548 shares during the period. Institutional investors and hedge funds own 56.04% of the company’s stock.

Shaw Communications Company Profile (Get Rating)

Shaw Communications Inc operates as a connectivity company in North America. The company operates through Wireline and Wireless segments. The company's Wireline segment provides cable telecommunications services, including video, Internet, WiFi, phone, satellite video, and data networking through a national fibre-optic backbone network to Canadian consumers, North American businesses, and public-sector entities.

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