World Asset Management Inc Sells 1,459 Shares of Shaw Communications Inc. (NYSE:SJR)
World Asset Management Inc cut its position in shares of Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) by 5.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,394 shares of the company’s stock after selling 1,459 shares during the period. World Asset Management Inc’s holdings in Shaw Communications were worth $597,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Cutler Group LP raised its position in Shaw Communications by 983.3% in the second quarter. Cutler Group LP now owns 6,500 shares of the company’s stock worth $141,000 after buying an additional 5,900 shares in the last quarter. Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of Shaw Communications during the first quarter worth approximately $204,000. Wetherby Asset Management Inc. acquired a new stake in shares of Shaw Communications during the first quarter worth approximately $205,000. US Bancorp DE increased its stake in shares of Shaw Communications by 14.6% in the second quarter. US Bancorp DE now owns 9,921 shares of the company’s stock worth $217,000 after buying an additional 1,267 shares during the last quarter. Finally, Greenleaf Trust increased its stake in shares of Shaw Communications by 1.7% in the first quarter. Greenleaf Trust now owns 11,228 shares of the company’s stock worth $233,000 after buying an additional 190 shares during the last quarter. Institutional investors own 53.24% of the company’s stock.
Shares of Shaw Communications Inc. (SJR) opened at 21.80 on Wednesday. The stock has a market capitalization of $10.76 billion, a P/E ratio of 26.23 and a beta of 0.91. The firm has a 50-day moving average price of $22.14 and a 200-day moving average price of $21.39. Shaw Communications Inc. has a 52-week low of $19.02 and a 52-week high of $23.31.
Shaw Communications (NYSE:SJR) (TSE:SJR.B) last released its quarterly earnings data on Wednesday, June 28th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.19. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Shaw Communications had a return on equity of 9.31% and a net margin of 10.01%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.11 EPS. On average, analysts predict that Shaw Communications Inc. will post $1.06 EPS for the current year.
The company also recently declared a monthly dividend, which will be paid on Wednesday, November 29th. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.0744 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.89 annualized dividend and a dividend yield of 4.10%. Shaw Communications’s payout ratio is 113.75%.
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A number of brokerages recently commented on SJR. BidaskClub downgraded Shaw Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. National Bank Financial downgraded Shaw Communications from an “outperform market weight” rating to a “sector perform market weight” rating in a research report on Wednesday, June 28th. Zacks Investment Research raised Shaw Communications from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Thursday, June 15th. Finally, Canaccord Genuity set a $28.00 price target on Shaw Communications and gave the company a “hold” rating in a research report on Monday, May 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $27.00.
Shaw Communications Company Profile
Shaw Communications Inc (Shaw) is a diversified connectivity provider. The Company operates through four divisions: Consumer, Wireless, Business Network Services and Business Infrastructure Services. Under the Consumer division, the Company offers Cable telecommunications and Satellite video services to residential customers.
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