The Shaw Communications (NYSE: SJR) (TSE: SJR.B) analysts at StockNews.com have changed their recommendation for the company from “hold” to “sell.” This information was communicated to investors in a message sent out on Friday.
Recent months have seen more research companies offering their perspectives on the SJR. The previous rating of “outperform” given to Shaw Communications was changed to “sector perform” in a research report published on Tuesday, January 3, by the Royal Bank of Canada. The findings of a research study that was made public on January 4 revealed that the “outperform” rating that National Bank Financial had previously given to Shaw Communications had been downgraded to a “sector perform” rating. A study by Scotiabank released on Friday rated Shaw Communications’ performance as “sector perform” rather than “outperform.” In its analysis, the study focused on the communications sector companies offering their perspectives on the SJR. The previous rating of “outperform” given to Shaw Communications was changed to “sector perform” in a research report published on Tuesday, January 3, by the Royal Bank of Canada. The findings of a research study that was made public on January 4 revealed that the “outperform” rating that National Bank Financial had previously given to Shaw Communications had been downgraded to a “sector perform” rating. A study by Scotiabank released on Friday rated Shaw Communications’ performance as “sector perform” rather than “outperform.” In its analysis, the study focused on the communications sector. In a research note that was released on Friday, Desjardins Research downgraded Shaw Communications from a “buy” recommendation to a “hold” rating. This was not the only company that received this rating change. The stock has been recommended to sell by one of the equity research analysts, a recommendation to hold it by four, and a rating to buy by two analysts. According to Bloomberg.com, the current recommendation for the stock is “Hold,” and market watchers anticipate that the price of the company’s shares will rise to $40.50 within the next year.
The price of one share of Shaw Communications fell by $0.29 during trading at noon on Friday, reaching a new low of $28.65. Today, there were 2,110,734 shares traded, which is significantly higher than the company’s daily average volume, typically 1,197,904 shares. All the financial ratios, including the debt-to-equity ratio, current, and quick ratio, all equal 0.73. Both the current ratio and the quick ratio are equal to 0.80. The current ratio is the same as the quick ratio. The stock price has reached a moving average of $27.30 over the past 50 days, while the price has reached a moving average of $26.62 over the past 200 days. The company has a price-to-earnings ratio of 23.88, a market value equal to $13.68 billion, and a beta equal to 0.52. Shaw Communications hit a low point over the past year of operations of $23.64, while the company reached a high point of $31.60.
The most recent quarterly earnings report for Shaw Communications, traded on the NYSE under the symbol SJR and the Toronto Stock Exchange under SJR.B, was released on November 29, 2018. The company reported earnings of $0.26 per share for the quarter, which fell short of market analysts’ expectations, who had anticipated earnings of $0.27 per share for the period. Even though market watchers anticipated that the company would bring in revenue for the quarter totaling $1.01 billion, the company brought in revenue totaling $1.05 billion. A return on equity of 12.27% and a net margin of 14.03% were successful goals that Shaw Communications could accomplish. During the current fiscal year, Shaw Communications is expected to generate $1.11 per share, as stated by projections made by financial industry experts.
Several hedge funds and other institutional investors have been active buyers and sellers of SJR shares throughout the last few months. The percentage of Shaw Communications owned by Citigroup Inc. increased by 84.4% during the year’s first three months. During the allotted time frame, Citigroup Inc. purchased 26,258 shares, bringing its total number in the company to 57,377. These 57,377 shares are currently valued at a sum equal to $1,782,000 combined. BlackRock Inc. increased the amount of Shaw Communications owned by 2.7% during the first three months of 2018. BlackRock Inc. now has 491,788 shares of the company’s stock, which can be valued at $15,265,000 after the company made an additional purchase of 13,125 shares during the period. Allianz Asset Management GmbH increased the amount of Shaw Communications stock owned by 1.1% over the first three months of 2018. Allianz Asset Management GmbH now holds 42,295 shares of the company’s stock following the acquisition of 454 additional shares during the period. The value of Allianz Asset Management GmbH’s current stock holdings is $1,314,000. The percentage of Shaw Communications stock West Family Investments Inc. owned at the beginning of the year increased by 9.5% during the first three months. West Family Investments Inc. increased the number of shares it owns in the company by purchasing an additional 1,063 of its stock during the month, bringing the total number of shares it currently possesses to 12,216, each of which has a value of $379,000. During the first three months of this year, USS Investment Management Ltd. increased the amount of Shaw Communications stock owned by 1.6%, making this the last and most important point. Following the acquisition of a further 5,279 shares during the period under review, USS Investment Management Ltd. now possesses 343,616 shares of the company’s stock, collectively valued at a sum equal to $10,674,000. Most of the company’s stock is owned by large financial institutions, which account for 55.44% of the total.
Shaw Communications Inc. is a company that operates throughout North America and provides connectivity services. Wireline is a company division that offers cable telecommunications services to residential customers in Canada, commercial customers in North America, and public sector organizations. These customers are located all over the world. Video, the Internet, WiFi, phone service, satellite television, and data networking are all included in these services. These services are made available to customers through a national fiber-optic backbone network.