Despite Wireless Growth, Shaw Posts Weaker-Than-Expected Cable Margin; Lowering FVE to CAD 25
Shaw Communications’ profitability in the first quarter of fiscal 2018 was weaker than we expected. On the bright side, Shaw’s wireless segment continues to grow at a solid pace with subscriber additions and pricing increases. We are not concerned about Shaw’s strength in the cable market of western Canada, and we reiterate our narrow moat rating. However, we slightly lowered our wireline margin projections in fiscal 2018 and beyond, which reduced our fair value estimate to CAD 25 per share from...Shaw Communications is a communications and media company. Co. has four operating segments: consumer, which provides cable telecommunications and satellite video services to residential customers; business network services, which provides data networking, cable telecommunications, satellite video and fleet tracking services to businesses and public sector entities; business infrastructure services, which provides data centre colocation, cloud technology and managed Information Technology solutions to businesses; and media, which provides programming content.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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