Zacks Short Term Rating on Shaw Communications Inc. (NYSE:SJR)

Post opening the session at $20.73, the shares hit an intraday low of $20.51 and an intraday high of $20.82 and the price vacillated in this range throughout the day.

The company’s fourth-quarter net income attributable to equity shareholders was C$276 million or C$0.57 per share, up from C$192 million or C$0.40 per share, last year. The firm has a 50 day moving average price of $19.80 and a 200 day moving average price of $21.23. After $0.45 actual EPS reported by Shaw Communications Inc (USA) for the previous quarter, Wall Street now forecasts -33.33% negative EPS growth. It has underperformed by 8.61% the S&P500. Shaw is traded on the Toronto and New York stock exchanges and is included in the S&P/TSX 60 Index (Symbol: TSX – SJR.B, NYSE – SJR). Equities research analysts anticipate that Shaw Communications will post $1.71 earnings per share for the current fiscal year. Finally, Macquarie upgraded Shaw Communications from a “neutral” rating to an “outperform” rating in a research note on Tuesday.

In a report released today, Aravinda Galappatthige from Canaccord Genuity maintained a Hold rating on Shaw Communications Inc. The brokerage firm analysts covering Shaw Communications Inc.

Shaw shares have declined 24 percent since the beginning of the year. The stock has a market cap of $9.58 billion and a PE ratio of 16.10.

Meanwhile, big Canadian players Teck Resources (TCK-B.TO), Rogers Communications (RCI-B.TO), and Shaw Communications (SJR-B.TO) are expected to help lift sentiments, having reported strong quarterly financials.

Revenue from Shaw’s cable, media and business services was up 6.3 per cent at $1.34 billion, compared with $1.26 billion a year earlier. It supplies customers with entertainment, info and communications services, using a number of distribution technologies. Shaw Media manages as conventional television networks in Canada, Global Television, and numerous specialty networks.