Shaw Communications Inc. (SJR) Sees Strong Trading Volume
Shaw Communications Inc. (NYSE:SJR) saw unusually-high trading volume on Tuesday . Approximately 519,460 shares were traded during trading, a decline of 3% from the previous session’s volume of 533,874 shares.The stock last traded at $19.15 and had previously closed at $19.20.
Several brokerages have commented on SJR. Bank of America Corp. began coverage on shares of Shaw Communications in a research note on Tuesday. They issued an “underperform” rating on the stock. Zacks Investment Research lowered shares of Shaw Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, June 15th. TD Securities reiterated a “buy” rating and issued a $28.00 price target on shares of Shaw Communications in a research note on Thursday, June 30th. Canaccord Genuity reiterated a “hold” rating on shares of Shaw Communications in a research note on Sunday, April 17th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $25.00 price target on shares of Shaw Communications in a research note on Saturday, April 16th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. Shaw Communications currently has an average rating of “Hold” and an average target price of $26.36.
The firm has a market cap of $9.06 billion and a price-to-earnings ratio of 14.10. The stock has a 50-day moving average price of $19.10 and a 200 day moving average price of $18.18.
Shaw Communications (NYSE:SJR) last released its quarterly earnings results on Thursday, April 14th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by $0.02. The company earned $1.15 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the previous year, the business earned $0.34 earnings per share. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. Equities research analysts predict that Shaw Communications Inc. will post $1.38 EPS for the current year.
The business also recently declared a sep 16 dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be given a dividend of $0.0988 per share.
Other institutional investors recently added to or reduced their stakes in the company. First Trust Advisors LP raised its position in Shaw Communications by 34.6% in the fourth quarter. First Trust Advisors LP now owns 361,991 shares of the company’s stock valued at $6,223,000 after buying an additional 93,073 shares during the period. Gulf International Bank UK Ltd raised its position in Shaw Communications by 4.9% in the fourth quarter. Gulf International Bank UK Ltd now owns 119,816 shares of the company’s stock valued at $2,062,000 after buying an additional 5,600 shares during the period. I.G. Investment Management LTD. raised its position in Shaw Communications by 13.1% in the fourth quarter. I.G. Investment Management LTD. now owns 29,209,513 shares of the company’s stock valued at $502,669,000 after buying an additional 3,389,336 shares during the period. Finally, Trexquant Investment LP bought a new position in Shaw Communications during the fourth quarter valued at approximately $1,269,000.
Shaw Communications Inc (Shaw) is a communication company. The Company’s operating segments are Consumer, Business Network Services, Business Infrastructure Services and Media. The Consumer division provides cable telecommunications services, including video, Internet, wireless fidelity (WiFi) and digital phone, and satellite video to Canadian consumers.
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