Shaw Communications Inc. (SJR) Shares Sold by Forward Management LLC
Forward Management LLC lowered its position in Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) by 8.6% during the second quarter, Holdings Channel reports. The fund owned 160,382 shares of the company’s stock after selling 15,072 shares during the period. Forward Management LLC’s holdings in Shaw Communications were worth $3,487,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Greenleaf Trust boosted its stake in 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. Comerica Bank boosted its stake in Shaw Communications by 1.5% in the first quarter. Comerica Bank now owns 26,749 shares of the company’s stock worth $570,000 after buying an additional 394 shares during the last quarter. Stonebridge Capital Management Inc. boosted its stake in Shaw Communications by 1.5% in the second quarter. Stonebridge Capital Management Inc. now owns 28,525 shares of the company’s stock worth $622,000 after buying an additional 425 shares during the last quarter. Wetherby Asset Management Inc. boosted its stake in Shaw Communications by 4.4% in the second quarter. Wetherby Asset Management Inc. now owns 10,332 shares of the company’s stock worth $225,000 after buying an additional 439 shares during the last quarter. Finally, World Asset Management Inc boosted its stake in Shaw Communications by 1.7% in the first quarter. World Asset Management Inc now owns 28,853 shares of the company’s stock worth $598,000 after buying an additional 496 shares during the last quarter. 53.24% of the stock is currently owned by institutional investors.
Shaw Communications Inc. (NYSE:SJR) opened at 21.71 on Thursday. The stock’s 50 day moving average is $22.06 and its 200-day moving average is $21.41. The stock has a market capitalization of $10.71 billion, a price-to-earnings ratio of 26.13 and a beta of 0.91. Shaw Communications Inc. has a 12 month low of $19.02 and a 12 month high of $23.31.
Shaw Communications (NYSE:SJR) (TSE:SJR.B) last posted its quarterly earnings results on Wednesday, June 28th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.19. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.32 billion. Shaw Communications had a return on equity of 9.31% and a net margin of 10.01%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.11 EPS. On average, equities research analysts expect that Shaw Communications Inc. will post $1.06 earnings per share for the current year.
The company also recently declared a monthly dividend, which will be paid on Wednesday, November 29th. Investors of record on Wednesday, November 15th will be given a dividend of $0.0744 per share. This represents a $0.89 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend is Tuesday, November 14th. Shaw Communications’s dividend payout ratio is currently 113.75%.
A number of research firms have weighed in on SJR. National Bank Financial cut shares of Shaw Communications from an “outperform market weight” rating to a “sector perform market weight” rating in a report on Wednesday, June 28th. BidaskClub cut shares of Shaw Communications from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Canaccord Genuity set a $28.00 price objective on shares of Shaw Communications and gave the stock a “hold” rating in a report on Monday, May 1st. Finally, Zacks Investment Research raised shares of Shaw Communications from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Thursday, June 15th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The company has a consensus 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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