1. Homepage
  2. Equities
  3. Canada
  4. Toronto Stock Exchange
  5. Shaw Communications Inc.
  6. News
  7. Summary
    SJR.B   CA82028K2002

SHAW COMMUNICATIONS INC.

(SJR.B)
  Report
Delayed Toronto Stock Exchange  -  04:19 2022-08-17 pm EDT
34.96 CAD   -1.13%
08/15Lacavera Still Isn't Giving Up On $3.75 Billion Bid for Freedom Mobile
MT
08/12TSX closes above 20,000 for first time in two months
RE
08/12Toronto Stocks Edge Higher; MDA Drops on Lowered 2022 Expectations
DJ
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

TSX posts biggest weekly decline in two years as energy slides

06/17/2022 | 04:30pm EDT

(Adds investor quotes and details throughout; updates prices)

* TSX ends down 73.58 points, or 0.4%, at 18,930.48

* Posts its lowest closing level since March 2021

* For the week, the TSX falls 6.6%

* Energy sector declines 5.7%; oil settles 6.8% lower

TORONTO, June 17 (Reuters) - Canada's main stock index fell on Friday to close out its worst week in more than two years, as the energy sector continued its recent losing streak and offset gains by technology and consumer discretionary stocks.

The Toronto Stock Exchange's S&P/TSX composite index ended down 73.58 points, or 0.4%, at 18,930.48, its lowest closing level since March 2021.

For the week, the TSX was down 6.6%, its biggest weekly decline since March 2020.

U.S. stocks were also volatile this week as investors grappled with a likely recession on the heels of rate hikes by multiple global central banks, including a three-quarter-percentage-point move by the Federal Reserve on Wednesday, seeking to tame rising inflation.

"All this chatter about recession has had investors really concerned," said Elvis Picardo, portfolio manager at Luft Financial, iA Private Wealth.

"And on top of that we've seen a bit of a pullback in oil prices ... Energy equities were riding so high I think there has been a massive bout of profit taking in them."

The energy group on the Toronto market fell 5.7%, its seventh straight day of declines, as oil prices tumbled to a four-week low. U.S. crude oil futures settled 6.8% lower as investors worried that a global economic slowdown could cut demand for energy.

The materials group, which includes precious and base metals miners and fertilizer companies, was also a drag, losing 0.9% as gold and copper prices fell.

In contrast, the technology sector added 2.2%, with Lightspeed Commerce leading gains with a surge of 7.1%.

Consumer discretionary rose 1.7%, while industrials ended 1% higher.

Separately, Canada's antitrust regulator said the merger of Rogers Communications and Shaw Communications should not go ahead, arguing the deal poses threats to competition in Canada.

Shares of both companies ended higher. (Reporting by Fergal Smith; Additional reporting by Amal S in Bengaluru, editing by Deepa Babington)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
LIGHTSPEED COMMERCE INC. -7.30% 26.81 Delayed Quote.-43.38%
LONDON BRENT OIL 0.43% 93.63 Delayed Quote.20.13%
S&P GSCI CRUDE OIL INDEX 0.06% 480.8175 Real-time Quote.14.56%
SHAW COMMUNICATIONS INC. -1.13% 34.96 Delayed Quote.-7.89%
WTI 0.52% 88.111 Delayed Quote.15.49%
All news about SHAW COMMUNICATIONS INC.
08/15Lacavera Still Isn't Giving Up On $3.75 Billion Bid for Freedom Mobile
MT
08/12TSX closes above 20,000 for first time in two months
RE
08/12Toronto Stocks Edge Higher; MDA Drops on Lowered 2022 Expectations
DJ
08/12Rogers, Shaw Communications to Sell Freedom Mobile to Quebecor Unit
MT
08/12National Bank on Latest In the Rogers, Shaw and Quebecor Saga
MT
08/12SHAW COMMUNICATIONS : ROGERS, SHAW AND QUEBECOR SIGN DEFINITIVE AGREEMENT FOR SALE OF FREE..
PU
08/12Rogers, Shaw, Quebecor sign definitive agreement on planned sale of Freedom Mobile
AQ
08/12TSX futures edge higher; inverted yield curve triggers caution
RE
08/12Quebecor, Rogers, Shaw Sign Definitive Agreement to Sell Freedom Mobile While Awaiting ..
DJ
08/12Rogers, Shaw sign agreement to sell Freedom Mobile to Quebecor
RE
More news
Analyst Recommendations on SHAW COMMUNICATIONS INC.
More recommendations
Financials
Sales 2022 5 469 M 4 232 M 4 232 M
Net income 2022 827 M 640 M 640 M
Net Debt 2022 5 263 M 4 072 M 4 072 M
P/E ratio 2022 22,4x
Yield 2022 3,40%
Capitalization 17 449 M 13 502 M 13 502 M
EV / Sales 2022 4,15x
EV / Sales 2023 4,09x
Nbr of Employees 9 400
Free-Float 93,0%
Chart SHAW COMMUNICATIONS INC.
Duration : Period :
Shaw Communications Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SHAW COMMUNICATIONS INC.
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 10
Last Close Price 34,96 CAD
Average target price 39,96 CAD
Spread / Average Target 14,3%
EPS Revisions
Managers and Directors
Bradley S. Shaw Chairman & Chief Executive Officer
Paul McAleese President
Trevor English CFO, Chief Corporate Development Officer & EVP
Zoran Stakic Chief Operating & Technology Officer
Adrian Ilene Burns Independent Director
Sector and Competitors