FY2023 EPS Estimates for Shaw Communications Inc. (NYSE:SJR) Boosted by Cormark

Shaw Communications Inc. (NYSE:SJR – Get Rating) (TSE:SJR.B) – Stock analysts at Cormark upped their FY2023 earnings per share estimates for shares of Shaw Communications in a report issued on Wednesday, January 18th. Cormark analyst D. Mcfadgen now expects that the company will earn $1.07 per share for the year, up from their previous forecast of $1.06. The consensus estimate for Shaw Communications’ current full-year earnings is $1.10 per share.

Shaw Communications (NYSE:SJR – Get Rating) (TSE:SJR.B) last posted its earnings results on Tuesday, November 29th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.01). Shaw Communications had a return on equity of 11.70% and a net margin of 13.57%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion.

A number of other research analysts have also weighed in on the stock. Desjardins lowered shares of Shaw Communications from a “buy” rating to a “hold” rating in a research note on Friday, January 13th. StockNews.com downgraded shares of Shaw Communications from a “hold” rating to a “sell” rating in a report on Friday, January 13th. Royal Bank of Canada downgraded shares of Shaw Communications from an “outperform” rating to a “sector perform” rating in a report on Tuesday, January 3rd. National Bank Financial downgraded shares of Shaw Communications from an “outperform” rating to a “sector perform” rating in a report on Wednesday, January 4th. Finally, Scotiabank downgraded shares of Shaw Communications from an “outperform” rating to a “sector perform” rating in a report on Friday, January 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Shaw Communications presently has an average rating of “Hold” and an average target price of $40.50.

Shaw Communications Trading Up 0.7 %

Shares of Shaw Communications stock opened at $28.72 on Monday. The firm has a market capitalization of $13.71 billion, a PE ratio of 25.19 and a beta of 0.52. Shaw Communications has a twelve month low of $23.64 and a twelve month high of $31.60. The firm’s 50-day moving average price is $27.49 and its 200 day moving average price is $26.55. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 0.63.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. SeaCrest Wealth Management LLC acquired a new position in Shaw Communications during the second quarter worth about $44,000. Eagle Bay Advisors LLC purchased a new stake in shares of Shaw Communications in the second quarter valued at about $44,000. Power Corp of Canada purchased a new stake in shares of Shaw Communications in the first quarter valued at about $54,000. Grayhawk Investment Strategies Inc. purchased a new stake in shares of Shaw Communications in the second quarter valued at about $66,000. Finally, Gulf International Bank UK Ltd lifted its holdings in shares of Shaw Communications by 13.0% in the second quarter. Gulf International Bank UK Ltd now owns 3,924 shares of the company’s stock valued at $101,000 after purchasing an additional 450 shares in the last quarter. 55.44% of the stock is currently owned by institutional investors and hedge funds.

Shaw Communications Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, January 30th. Shareholders of record on Friday, January 13th will be paid a $0.074 dividend. The ex-dividend date is Thursday, January 12th. This represents a $0.89 dividend on an annualized basis and a yield of 3.09%. Shaw Communications’s dividend payout ratio is presently 76.32%.

About Shaw Communications

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Shaw Communications Inc operates as a connectivity company in North America. 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.