Shaw Communications (TSE:SJR.B) Share Price Passes Below Fifty Day Moving Average of $34.66

Shaw Communications Inc (TSE:SJR.BGet Rating) (NYSE:SJR)’s share price passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$34.66 and traded as low as C$33.85. Shaw Communications shares last traded at C$33.98, with a volume of 1,397,184 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SJR.B shares. Scotiabank set a C$38.00 price target on shares of Shaw Communications and gave the company a “sector perform” rating in a research note on Tuesday, June 28th. National Bankshares upgraded shares of Shaw Communications from a “sector perform” rating to an “outperform” rating and set a C$40.50 price objective for the company in a report on Wednesday, May 18th. Finally, Canaccord Genuity Group upgraded shares of Shaw Communications to a “buy” rating and set a C$40.50 price objective for the company in a report on Tuesday, June 21st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$39.80.

Shaw Communications Stock Down 0.9 %

The company has a current ratio of 0.95, a quick ratio of 0.64 and a debt-to-equity ratio of 94.13. The company has a market cap of C$16.97 billion and a price-to-earnings ratio of 20.11. The firm’s fifty day simple moving average is C$34.66 and its 200 day simple moving average is C$36.44.

Shaw Communications Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Tuesday, August 30th. Shareholders of record on Tuesday, August 30th were issued a dividend of $0.0988 per share. This represents a $1.19 annualized dividend and a yield of 3.49%. The ex-dividend date was Friday, August 12th. Shaw Communications’s dividend payout ratio (DPR) is presently 70.12%.

About Shaw Communications

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Shaw Communications Inc operates as a connectivity company in North America. The company operates through Wireline and Wireless segments. The Wireline segment provides broadband Internet, Shaw Go WiFi, video, and digital phone services to residential customers; and Internet, data, WiFi, digital phone, and video services to business customers.

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