Shaw Communications (TSE:SJR.B) Price Target Lowered to C$23.00 at Citigroup

Shaw Communications (TSE:SJR.B) (NYSE:SJR) had its price objective cut by analysts at Citigroup from C$24.00 to C$23.00 in a research report issued on Friday, June 28th, BayStreet.CA reports. Citigroup‘s target price indicates a potential downside of 9.80% from the stock’s current price.

Separately, TD Securities dropped their price target on shares of Shaw Communications from C$33.00 to C$32.00 and set an “action list buy” rating on the stock in a research note on Friday, June 28th.

Shares of TSE SJR.B traded down C$0.20 during mid-day trading on Friday, reaching C$25.50. The company had a trading volume of 763,303 shares, compared to its average volume of 1,000,000. Shaw Communications has a twelve month low of C$23.82 and a twelve month high of C$28.10. The company has a debt-to-equity ratio of 85.76, a current ratio of 0.76 and a quick ratio of 0.63. The firm has a market capitalization of $10.53 billion and a PE ratio of 16.63. The stock has a 50 day simple moving average of C$26.88.

In other Shaw Communications news, Senior Officer Peter Johnson sold 6,819 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of C$26.55, for a total transaction of C$181,044.45. Following the transaction, the insider now directly owns 33,181 shares of the company’s stock, valued at C$880,955.55.

Shaw Communications Company Profile

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.

See Also: Leveraged Buyout (LBO)

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