World News – CA – Shaw Communications Surpasses Fourth Quarter Estimates, Adds 60,000 Wireless Subscribers

0
10

Shaw Communications delivered 4Q results above expectations as the telecommunications company added 60,000 (45,000 postpaid subscribers and 14,900 prepaid subscribers) customers in its wireless business during the reporting period

Shaw Communications (SJR) said increased retail traffic along with strong demand from Western Canadians for Shaw Mobile has resulted in growth in subscriber numbers, despite competition and a back-to-school season school less active in the COVID-19 environment The company’s postpaid wireless churn rate rose to 157% in the end of August quarter from 147% in the previous year quarter

Meanwhile, 4Q revenues were flat at C $ 135 billion year-over-year, but exceeded analysts’ expectations of C $ 101 billion 4Q earnings of C $ 034 exceeded estimates by the street of CA $ 022 per share and increased by 63% over one year

The company expects consolidated capital investments of approximately $ 1 billion and free cash flow of approximately $ 800 million for fiscal 2021 Shaw Communications said, “Although the financial impacts of COVID- 19 during the second half of fiscal year 2020 were not significant, the situation is still uncertain in terms of scale, result, duration, resurgence and / or subsequent waves (See the analysis of SJR shares on TipRanks)

On October 23, Morgan Stanley analyst Simon Flannery launched a hedge on the stock with a Hold rating and a price target of C $ 25 or $ 18 76 (137% upside potential) sees attractive growth opportunities in the wireless business and notes that the company has upside potential for broadband. However, he believes that rival Telus is better positioned and that there is pressure on the « big » segment of Shaw pay TV

Currently the street has a cautiously bullish outlook on the stock Analyst consensus for moderate buy is based on 5 buy and 2 take The average price target of $ 20.58 implies upside potential of around 247% at current levels Shares have fallen by around 187% since the start of the year

Related News: Facebook Down 6% on 2021 ‘Uncertain’ Warning; JP Morgan Raises PTUnder Armor’s Best 3T BPA Estimates on Footwear Demand; Street says third quarter HoldHoneywell sales drop 14% as Covid-19 hurts demand for planes

Shaw Communications, TSX, NYSE: SJR, Finance, Stocks, Issuer, Exchange

World News – CA – Shaw Communications Surpasses Q4 Estimates, Adds 60,000 Subscribers to wireless
Related Title :
Shaw Communications exceeds estimates 4Q, Adds 60,000 Wireless Subscribers
Shaw Communications Agrees New Non-Voting Share Buyback Program ‘Non-Voting Shares
Shaw Announces Approval TSX for a normal course issuer bid


SOURCE: https://www.w24news.com

QU’EN PENSEZ-VOUS?

Abonnez-vous à notre chaîne Youtube en cliquant ici: EBENE MEDIA TV

Vidéo du jour:

Donnez votre point de vue et aboonez-vous!

[gs-fb-comments]

Votre point de vue compte, donnez votre avis

[maxbutton id= »1″]