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    SJR.B   CA82028K2002

SHAW COMMUNICATIONS INC.

(SJR.B)
  Report
Delayed Toronto Stock Exchange  -  04:00:00 2023-01-27 pm EST
39.68 CAD   -0.48%
06:01aDozen hedge funds eye bonanza as Rogers-Shaw deal nears close
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01/26Quebecor Buys Wireless-Spectrum Licenses in Quebec, Manitoba
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01/26Quebecor Provides Update on Auction of Residual Spectrum Licenses
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Toronto market ends slightly down as Magna slides

01/24/2023 | 05:01pm EST

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TSX ends 2.03 points lower at 20,629.55

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Magna shares fall 7.2%

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Technology declines 1.1%

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Court rejects antitrust effort to block Rogers-Shaw deal

Jan 24 (Reuters) -

Canada's main stock index edged slightly lower on Tuesday, pressured by a sharp drop in the shares of Magna International Inc and worries that higher borrowing costs would weigh on the corporate earnings outlook.

The Toronto Stock Exchange's S&P/TSX composite index ended down 2.03 points at 20,629.55, after posting on Monday its highest closing level in more than seven months.

The U.S. benchmark index S&P 500 also ended slightly lower.

"The issue for 2023 is going to be watching the lagged effects of the interest rate hikes that occurred last year," said Brian Madden, chief investment officer at First Avenue Investment Counsel in Toronto.

"The bigger issue for Canada and the U.S. is going to be not so much digesting the rate hikes but resetting expectations for corporate earnings because they are too high, given the macroeconomic environment."

Investors worry that aggressive interest rate hikes could trigger a recession, with data on Tuesday showing that U.S. business activity

contracted

for the seventh consecutive month in January.

The Bank of Canada will hike its key interest rate by a quarter of a percentage point to 4.5% on Wednesday and then hit pause on its tightening campaign, a Reuters poll of economists showed.

Shares of Magna slumped 7.2% after the automotive supplier cut its earnings margin outlook. That weighed on the consumer discretionary sector, which lost 0.7%.

Technology fell 1.1% and energy was down 1% as U.S. crude oil futures settled 1.8% lower at $80.13 a barrel, giving back some of its recent gains.

A Canadian court

dismissed the competition bureau's effort to block Rogers Communications Inc's C$20 billion ($14.9 billion) bid to buy Shaw Communications Inc, in a boost to the companies' efforts to close a deal struck nearly two years ago.

Rogers rose 2.9% and Shaw was up 2.8%. (Reporting by Fergal Smith; Additional reporting by Shashwat Chauhan in Bengaluru; Editing by Krishna Chandra Eluri and Deepa Babington)


ę Reuters 2023
Stocks mentioned in the article
ChangeLast1st jan.
BRENT OIL -1.57% 86.05 Delayed Quote.0.27%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.01% 0.7508 Delayed Quote.1.24%
MAGNA INTERNATIONAL INC. 2.87% 85.06 Delayed Quote.8.72%
ROGERS COMMUNICATIONS INC. -1.19% 64.58 Delayed Quote.3.14%
S&P GSCI CRUDE OIL INDEX -1.88% 436.6984 Real-time Quote.0.35%
S&P/TSX COMPOSITE INDEX 0.07% 20714.48 Delayed Quote.6.79%
SHAW COMMUNICATIONS INC. -0.48% 39.68 Delayed Quote.2.20%
US DOLLAR / CANADIAN DOLLAR (USD/CAD) -0.08% 1.3307 Delayed Quote.-1.16%
WTI -2.02% 79.45 Delayed Quote.0.09%
All news about SHAW COMMUNICATIONS INC.
06:01aDozen hedge funds eye bonanza as Rogers-Shaw deal nears close
RE
01/26Quebecor Buys Wireless-Spectrum Licenses in Quebec, Manitoba
DJ
01/26Quebecor Provides Update on Auction of Residual Spectrum Licenses
MT
01/25Canadian Government Looking 'Closely' Into Rogers-Shaw deal, Prime Minister Justin Trud..
MT
01/25Rogers-Shaw on cusp of final nod for protracted C$20 bln deal, shares rise
RE
01/25Refile: National Bank on Rogers/Shaw
MT
01/25Rogers-Shaw on cusp of final nod for protracted C$20 billion deal
RE
01/25Canada govt closely assessing Rogers-Shaw deal -PM Trudeau
RE
01/25Canada's Competition Commissioner Doesn't Plan Further Appeal of Rogers-Shaw Tie-Up
DJ
01/25Rogers, Shaw and Qebecor Comment on Federal Court of Appeal Decision, Commissioner of C..
MT
More news
Analyst Recommendations on SHAW COMMUNICATIONS INC.
More recommendations
Financials
Sales 2023 5 444 M 4 089 M 4 089 M
Net income 2023 792 M 595 M 595 M
Net Debt 2023 5 281 M 3 967 M 3 967 M
P/E ratio 2023 25,4x
Yield 2023 3,00%
Capitalization 19 831 M 14 896 M 14 896 M
EV / Sales 2023 4,61x
EV / Sales 2024 4,55x
Nbr of Employees 9 300
Free-Float 92,9%
Chart SHAW COMMUNICATIONS INC.
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Shaw Communications Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends SHAW COMMUNICATIONS INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 10
Last Close Price 39,68 CAD
Average target price 40,17 CAD
Spread / Average Target 1,23%
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