Morgan Stanley Initiates Coverage on Shaw Communications (NYSE:SJR)

Morgan Stanley assumed coverage on shares of Shaw Communications (NYSE:SJR) (TSE:SJR.B) in a research report sent to investors on Friday, The Fly reports. The brokerage issued an equal weight rating on the stock.

SJR has been the topic of several other reports. Royal Bank of Canada upped their target price on Shaw Communications from $24.00 to $25.00 and gave the company an outperform rating in a research report on Monday, July 13th. Canaccord Genuity reaffirmed a buy rating and set a $27.00 price target on shares of Shaw Communications in a research report on Wednesday, July 8th. TD Securities cut their price target on Shaw Communications from $32.00 to $31.00 and set a buy rating on the stock in a research report on Wednesday, September 2nd. Zacks Investment Research raised Shaw Communications from a hold rating to a buy rating and set a $20.00 price target on the stock in a research report on Thursday, August 13th. Finally, Scotiabank increased their price target on Shaw Communications from $30.50 to $31.50 and gave the stock an outperform rating in a research report on Monday, July 13th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $25.94.

NYSE SJR opened at $17.32 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.87 and a quick ratio of 0.82. The stock’s fifty day moving average price is $18.15 and its 200 day moving average price is $17.47. Shaw Communications has a 1 year low of $12.20 and a 1 year high of $20.90. The company has a market cap of $8.50 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 4.79 and a beta of 0.62.

Several hedge funds have recently bought and sold shares of SJR. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Shaw Communications during the 2nd quarter worth about $41,000. Glenmede Trust Co. NA boosted its stake in shares of Shaw Communications by 598.6% during the 2nd quarter. Glenmede Trust Co. NA now owns 2,515 shares of the company’s stock worth $41,000 after acquiring an additional 2,155 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Shaw Communications by 63.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,710 shares of the company’s stock worth $44,000 after acquiring an additional 1,054 shares in the last quarter. Captrust Financial Advisors purchased a new stake in shares of Shaw Communications during the 2nd quarter worth about $55,000. Finally, Parallel Advisors LLC boosted its stake in shares of Shaw Communications by 19.9% during the 2nd quarter. Parallel Advisors LLC now owns 3,482 shares of the company’s stock worth $56,000 after acquiring an additional 578 shares in the last quarter. 57.07% of the stock is currently owned by institutional investors and hedge funds.

About Shaw Communications

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 Wi-Fi, video, and digital phone services to residential customers; and Internet, data, Wi-Fi, digital phone, and video services to business customers.

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Analyst Recommendations for Shaw Communications (NYSE:SJR)

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