National Bank Financial Brokers Boost Earnings Estimates for Shaw Communications Inc. (NYSE:SJR)

Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) – Investment analysts at National Bank Financial increased their FY2022 earnings estimates for shares of Shaw Communications in a report released on Wednesday, January 12th. National Bank Financial analyst A. Shine now expects that the company will earn $1.26 per share for the year, up from their prior forecast of $1.23. National Bank Financial also issued estimates for Shaw Communications’ FY2023 earnings at $1.30 EPS.

Separately, Royal Bank of Canada raised Shaw Communications from a “sector perform” rating to an “outperform” rating in a report on Monday, November 8th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $38.13.

NYSE SJR opened at $30.17 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.79 and a debt-to-equity ratio of 0.75. Shaw Communications has a 52-week low of $17.06 and a 52-week high of $30.66. The business’s 50-day moving average price is $29.51 and its 200 day moving average price is $29.18. The firm has a market cap of $14.38 billion, a P/E ratio of 18.74 and a beta of 0.68.

Shaw Communications (NYSE:SJR) (TSE:SJR.B) last released its quarterly earnings results on Wednesday, January 12th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.10. Shaw Communications had a return on equity of 17.12% and a net margin of 18.48%. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the company posted $0.24 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis.

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, April 28th. Shareholders of record on Thursday, April 14th will be issued a $0.0789 dividend. This represents a $0.95 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date is Wednesday, April 13th. Shaw Communications’s dividend payout ratio is presently 57.76%.

A number of institutional investors and hedge funds have recently made changes to their positions in SJR. Parisi Gray Wealth Management purchased a new stake in Shaw Communications in the 2nd quarter valued at approximately $29,000. Rockefeller Capital Management L.P. purchased a new stake in Shaw Communications in the 2nd quarter valued at approximately $48,000. Advisor Group Holdings Inc. lifted its position in shares of Shaw Communications by 159.5% during the 2nd quarter. Advisor Group Holdings Inc. now owns 4,061 shares of the company’s stock valued at $117,000 after acquiring an additional 2,496 shares during the period. C M Bidwell & Associates Ltd. acquired a new stake in shares of Shaw Communications during the 2nd quarter valued at approximately $135,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Shaw Communications by 47.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,218 shares of the company’s stock valued at $150,000 after acquiring an additional 1,676 shares during the period. 55.70% of the stock is currently owned by institutional investors.

Shaw Communications Company Profile

Shaw Communications, Inc engages in the provision of cable telecommunications and satellite video services. The company was founded by James Robert Shaw on December 9, 1966 and is headquartered in Calgary, Canada.

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