Shaw Comm Cl B NV Gets a Buy Rating from RBC Capital

By Ryan Adsit

Shaw Comm Cl B NV (TSX: SJR.B), the Services sector company, has received a rating update from a Wall Street analyst yesterday. The company received a Buy rating from RBC Capital’s analyst Drew Mcreynolds, with a C$29 price target.

According to TipRanks.com, Mcreynolds is a 3-star analyst with an average return of 7.9% and a 56.3% success rate. Mcreynolds covers the Services sector, focusing on stocks such as Shaw Communications Inc, Points International, and Thomson Reuters Corp.

Shaw Comm Cl B NV has an analyst consensus of Moderate Buy, with a price target consensus of C$29.75.

Based on Shaw Comm Cl B NV’s latest earnings report for the quarter ending August 31, the company posted quarterly revenue of C$1.24 billion and quarterly net profit of C$151 million. In comparison, last year the company earned revenue of C$1.31 billion and had a net profit of C$89 million.

Shaw Communications, Inc. engages in the provision of cable telecommunications and satellite video services. It operates through the following business segments: Consumer, Business Network Services, and Wireless. The Consumer segment provides cable telecommunications services including video, internet, WiFi, phone, and satellite video to Canadian consumers.

The company’s shares closed on Friday at C$27.21.