Cidel Asset Management Inc. lowered its position in Shaw Communications Inc (NYSE:SJR) (TSE:SJR.B) by 22.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 53,280 shares of the company’s stock after selling 15,700 shares during the quarter. Cidel Asset Management Inc.’s holdings in Shaw Communications were worth $1,410,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in SJR. TD Asset Management Inc. boosted its stake in Shaw Communications by 8.6% during the second quarter. TD Asset Management Inc. now owns 15,034,402 shares of the company’s stock worth $307,419,000 after buying an additional 1,196,510 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Shaw Communications by 21.7% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 11,894,498 shares of the company’s stock worth $247,604,000 after acquiring an additional 2,121,387 shares during the period. Mawer Investment Management Ltd. boosted its holdings in Shaw Communications by 0.4% in the 2nd quarter. Mawer Investment Management Ltd. now owns 8,690,431 shares of the company’s stock worth $177,701,000 after acquiring an additional 36,512 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Shaw Communications by 53.3% during the 1st quarter. CIBC Asset Management Inc now owns 8,649,319 shares of the company’s stock valued at $179,994,000 after buying an additional 3,005,934 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in shares of Shaw Communications by 8.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 6,823,213 shares of the company’s stock valued at $141,506,000 after buying an additional 538,883 shares during the last quarter. 55.12% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently commented on the company. Desjardins reiterated a “buy” rating on shares of Shaw Communications in a research note on Friday, June 28th. TheStreet lowered Shaw Communications from a “b-” rating to a “c+” rating in a research report on Tuesday, August 27th. Canaccord Genuity raised Shaw Communications from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $28.00 price target on shares of Shaw Communications in a research note on Monday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $27.00.
SJR traded up $0.05 during trading on Friday, hitting $20.11. The company’s stock had a trading volume of 14,551 shares, compared to its average volume of 323,863. The firm’s 50 day moving average price is $19.40 and its two-hundred day moving average price is $20.13. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 0.65. Shaw Communications Inc has a 12 month low of $17.50 and a 12 month high of $21.08. The stock has a market capitalization of $9.98 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 3.69 and a beta of 0.73.
Shaw Communications (NYSE:SJR) (TSE:SJR.B) last posted its earnings results on Thursday, June 27th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.08. Shaw Communications had a return on equity of 12.54% and a net margin of 14.42%. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the firm earned ($0.18) earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts forecast that Shaw Communications Inc will post 1.1 earnings per share for the current year.
The business also recently announced a — dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a yield of 4.5%. Shaw Communications’s payout ratio is presently 76.27%.
About Shaw Communications
Shaw Communications Inc operates as a connectivity company in North America. The company operates through Wireline and Wireless segments. The Wireline segment provides broadband Internet, Shaw Go WiFi, video, and digital phone services to residential customers; and Internet, data, WiFi, digital phone, and video services to business customers.
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