Zacks: Brokerages Expect Shaw Communications Inc. (NYSE:SJR) Will Announce Earnings of $0.32 Per Share

Wall Street brokerages expect Shaw Communications Inc. (NYSE:SJRGet Rating) (TSE:SJR.B) to announce $0.32 earnings per share for the current quarter, Zacks reports. Zero analysts have made estimates for Shaw Communications’ earnings. Shaw Communications posted earnings of $0.56 per share during the same quarter last year, which would suggest a negative year over year growth rate of 42.9%. The firm is expected to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Shaw Communications will report full-year earnings of $1.26 per share for the current year, with EPS estimates ranging from $1.23 to $1.30. For the next fiscal year, analysts forecast that the company will report earnings of $1.29 per share, with EPS estimates ranging from $1.24 to $1.35. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that follow Shaw Communications.

Shaw Communications (NYSE:SJRGet Rating) (TSE:SJR.B) last released its 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). The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Shaw Communications had a net margin of 18.19% and a return on equity of 16.57%. Shaw Communications’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 earnings per share.

Several brokerages have recently commented on SJR. Zacks Investment Research downgraded Shaw Communications from a “hold” rating to a “sell” rating and set a $32.00 price objective on the stock. in a research report on Tuesday, April 19th. National Bank Financial downgraded Shaw Communications from an “outperform” rating to a “sector perform” rating in a research report on Thursday, April 14th. StockNews.com upgraded Shaw Communications from a “sell” rating to a “hold” rating in a research report on Friday, April 22nd. Finally, CIBC boosted their price objective on Shaw Communications from C$27.00 to C$40.50 in a research report on Tuesday, January 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Shaw Communications presently has an average rating of “Hold” and an average price target of $37.67.

Several large investors have recently bought and sold shares of SJR. Quadrant Capital Group LLC increased its stake in Shaw Communications by 16.2% during the fourth quarter. Quadrant Capital Group LLC now owns 5,892 shares of the company’s stock worth $179,000 after acquiring an additional 821 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Shaw Communications by 2.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,252,120 shares of the company’s stock worth $129,146,000 after acquiring an additional 111,625 shares during the last quarter. FIL Ltd increased its stake in Shaw Communications by 36.6% during the third quarter. FIL Ltd now owns 9,836,397 shares of the company’s stock worth $285,944,000 after acquiring an additional 2,633,262 shares during the last quarter. Wellington Management Group LLP increased its stake in Shaw Communications by 23.0% during the third quarter. Wellington Management Group LLP now owns 44,840 shares of the company’s stock worth $1,303,000 after acquiring an additional 8,385 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Shaw Communications by 4.4% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,269,543 shares of the company’s stock worth $38,531,000 after acquiring an additional 53,425 shares during the last quarter. Institutional investors own 56.04% of the company’s stock.

NYSE SJR traded up $0.56 on Tuesday, hitting $27.65. 26,950 shares of the company traded hands, compared to its average volume of 824,843. The business’s 50 day moving average price is $30.07 and its 200-day moving average price is $29.72. Shaw Communications has a 52-week low of $25.63 and a 52-week high of $31.60. The company has a market capitalization of $13.19 billion, a price-to-earnings ratio of 17.49 and a beta of 0.66. 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 also recently announced a monthly dividend, which will be paid on Thursday, July 28th. Investors of record on Friday, July 15th will be given a $0.0767 dividend. The ex-dividend date of this dividend is Thursday, July 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.33%. Shaw Communications’s dividend payout ratio is currently 58.23%.

About Shaw Communications (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.

Recommended Stories

Get a free copy of the Zacks research report on Shaw Communications (SJR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Shaw Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shaw Communications and related companies with MarketBeat.com's FREE daily email newsletter.