Shaw Communications (SJR) Shares Gap Up Following Better-Than-Expected Earnings

Shaw Communications (NYSE:SJR) (TSE:SJR.B)’s share price gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $21.82, but opened at $20.97. Shaw Communications shares last traded at $20.66, with a volume of 646229 shares traded.

The company reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.17. Shaw Communications had a return on equity of 9.89% and a net margin of 17.34%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the company posted $0.30 earnings per share. Shaw Communications’s revenue for the quarter was up 12.4% on a year-over-year basis.

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The business also recently declared a monthly dividend, which will be paid on Friday, April 27th. Shareholders of record on Friday, April 13th will be issued a dividend of $0.0795 per share. This represents a $0.95 annualized dividend and a yield of 4.62%. The ex-dividend date is Thursday, April 12th. Shaw Communications’s dividend payout ratio is presently 113.10%.

SJR has been the subject of several recent research reports. Zacks Investment Research lowered Shaw Communications from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. TD Securities raised Shaw Communications to a “buy” rating in a report on Friday, January 12th. Canaccord Genuity set a $28.00 price target on Shaw Communications and gave the company a “hold” rating in a report on Thursday, January 11th. Barclays raised Shaw Communications from an “equal weight” rating to an “overweight” rating in a report on Thursday. Finally, Scotiabank raised Shaw Communications from a “sector perform” rating to an “outperform” rating in a report on Friday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $27.00.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AMP Capital Investors Ltd boosted its stake in shares of Shaw Communications by 2.4% in the third quarter. AMP Capital Investors Ltd now owns 136,210 shares of the company’s stock worth $3,130,000 after acquiring an additional 3,200 shares during the period. Cidel Asset Management Inc. boosted its stake in shares of Shaw Communications by 1.3% in the fourth quarter. Cidel Asset Management Inc. now owns 252,814 shares of the company’s stock worth $5,770,000 after acquiring an additional 3,300 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its stake in shares of Shaw Communications by 6.0% in the fourth quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 77,105 shares of the company’s stock worth $1,759,000 after acquiring an additional 4,366 shares during the period. Icon Wealth Partners LLC bought a new position in shares of Shaw Communications in the fourth quarter worth about $118,000. Finally, Commerzbank Aktiengesellschaft FI boosted its stake in shares of Shaw Communications by 30.2% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 27,005 shares of the company’s stock worth $617,000 after acquiring an additional 6,260 shares during the period. 51.50% of the stock is owned by hedge funds and other institutional investors.

The company has a market capitalization of $9,636.13, a price-to-earnings ratio of 24.73, a PEG ratio of 4.09 and a beta of 0.93. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.76 and a quick ratio of 0.66.

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Shaw Communications Company Profile

Shaw Communications Inc operates as a diversified communications company in North America. The company operates through Consumer, Business Network Services, and Wireless segments. The Consumer segment provides cable telecommunications services, including video, Internet, Wi-Fi, phone, and satellite video services to residential customers.

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