Commonwealth Bank of Australia Has $1.57 Million Position in Shaw Communications Inc. (SJR)
Commonwealth Bank of Australia trimmed its position in Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) by 6.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,977 shares of the company’s stock after selling 4,800 shares during the quarter. Commonwealth Bank of Australia’s holdings in Shaw Communications were worth $1,566,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cutler Group LP increased its stake in shares of 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 during the period. Fort Washington Investment Advisors Inc. OH purchased a new position in shares of Shaw Communications in the first quarter worth $204,000. 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 period. Wetherby Asset Management Inc. increased its stake in shares of 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 period. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Shaw Communications in the first quarter worth $256,000. 51.86% of the stock is currently owned by institutional investors.
Shaw Communications Inc. (NYSE:SJR) opened at 22.57 on Thursday. Shaw Communications Inc. has a 12 month low of $19.02 and a 12 month high of $23.31. The firm’s 50-day moving average is $22.14 and its 200-day moving average is $21.53. The stock has a market capitalization of $11.14 billion, a P/E ratio of 26.97 and a beta of 0.90.
Shaw Communications (NYSE:SJR) (TSE:SJR.B) last issued its quarterly earnings results on Wednesday, June 28th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.19. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.32 billion. Shaw Communications had a return on equity of 9.31% and a net margin of 10.01%. Shaw Communications’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the company earned $0.11 earnings per share. On average, equities analysts expect that Shaw Communications Inc. will post $1.09 earnings per share for the current fiscal year.
The business 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 $0.0744 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $0.89 dividend on an annualized basis and a yield of 3.96%. Shaw Communications’s dividend payout ratio is presently 118.75%.
Several research analysts recently commented on the stock. BidaskClub raised shares of Shaw Communications from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Zacks Investment Research raised shares of Shaw Communications from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Thursday, June 15th. Finally, National Bank Financial downgraded shares of Shaw Communications from an “outperform market weight” rating to a “sector perform market weight” rating in a research note on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $27.00.
Shaw Communications 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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