CIBC World Markets Inc. Reduces Stake in Shaw Communications Inc (SJR)
CIBC World Markets Inc. decreased its holdings in Shaw Communications Inc (NYSE:SJR) (TSE:SJR.B) by 12.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,575,995 shares of the company’s stock after selling 671,512 shares during the period. CIBC World Markets Inc.’s holdings in Shaw Communications were worth $89,186,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. AGF Investments Inc. increased its holdings in Shaw Communications by 182.6% in the second quarter. AGF Investments Inc. now owns 401,084 shares of the company’s stock worth $8,170,000 after buying an additional 259,174 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Shaw Communications by 3.2% in the second quarter. Renaissance Technologies LLC now owns 1,750,100 shares of the company’s stock worth $35,615,000 after buying an additional 54,900 shares during the last quarter. Cumberland Partners Ltd acquired a new position in Shaw Communications in the second quarter worth approximately $288,000. Swiss National Bank increased its holdings in Shaw Communications by 5.8% in the second quarter. Swiss National Bank now owns 1,642,600 shares of the company’s stock worth $33,356,000 after buying an additional 89,400 shares during the last quarter. Finally, Burgundy Asset Management Ltd. increased its holdings in Shaw Communications by 26.3% in the second quarter. Burgundy Asset Management Ltd. now owns 6,479,474 shares of the company’s stock worth $131,775,000 after buying an additional 1,351,019 shares during the last quarter. Institutional investors own 54.19% of the company’s stock.
A number of equities analysts recently commented on the company. ValuEngine upgraded Shaw Communications from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Canaccord Genuity downgraded Shaw Communications from a “buy” rating to a “hold” rating in a report on Thursday, October 25th. Finally, Zacks Investment Research upgraded Shaw Communications from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Tuesday, September 25th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Shaw Communications currently has a consensus rating of “Hold” and an average price target of $27.50.
Shaw Communications (NYSE:SJR) (TSE:SJR.B) last released its quarterly earnings data on Thursday, October 25th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. Shaw Communications had a return on equity of 12.90% and a net margin of 1.04%. On average, sell-side analysts anticipate that Shaw Communications Inc will post 1.04 EPS for the current year.
The business also recently announced a monthly dividend, which will be paid on Wednesday, January 30th. Shareholders of record on Tuesday, January 15th will be given a dividend of $0.0754 per share. The ex-dividend date of this dividend is Monday, January 14th. This represents a $0.90 dividend on an annualized basis and a yield of 4.74%. Shaw Communications’s payout ratio is currently 76.27%.
Shaw Communications Company Profile
Shaw Communications Inc operates as a diversified communications company in North America. The company operates through Consumer, Business Network Services, and Wireless segments. The Consumer segment provides cable telecommunications services, including video, Internet, Wi-Fi, phone, and satellite video services to residential customers.
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