Shaw Communications Inc. (NYSE:SJR) traded today at a new 52-week high of $29.15. Approximately 86,000 shares have changed hands today, as compared to an average 30-day volume of 716,000 shares.
Shaw Communications Inc. (NYSE:SJR) defies analysts with a current price ($28.91) 29.8% above its average consensus price target of $20.30.
In the past 52 weeks, shares of Shaw Communications Inc. have traded between a low of $15.16 and a high of $29.15 and is now at $28.91, which is 91% above that low price.
Shaw Communications is a Canadian cable company that is one of the biggest providers of Internet, television, and landline telephone services in British Columbia, Alberta, Saskatchewan, Manitoba, and northern Ontario. In fiscal 2020, more than 75% of Shaw’s total revenue resulted from this wireline business. Shaw is also now a national wireless service provider after acquiring Wind Mobile in 2016. Shaw has upgraded its wireless network, undertaken an aggressive pricing strategy, and significantly enhanced its spectrum holdings. As a smaller carrier, Shaw has favored bidding status in spectrum auctions, giving it a further boost in enhancing its wireless network. At the 2019 auction, Shaw added significant amounts of 600 MHz spectrum to the 700 MHz spectrum it is currently deploying.
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