Forsta AP Fonden Takes $713,000 Position in Shaw Communications Inc. (NYSE:SJR)

Forsta AP Fonden bought a new stake in Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 24,600 shares of the company’s stock, valued at approximately $713,000.

Other large investors have also recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund raised its position in Shaw Communications by 124.2% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,768,368 shares of the company’s stock worth $46,007,000 after purchasing an additional 979,679 shares during the last quarter. TIG Advisors LLC bought a new position in Shaw Communications in the 1st quarter worth approximately $3,712,000. Alliancebernstein L.P. raised its position in Shaw Communications by 922.2% in the 1st quarter. Alliancebernstein L.P. now owns 592,194 shares of the company’s stock worth $15,527,000 after purchasing an additional 534,259 shares during the last quarter. FIL Ltd raised its position in Shaw Communications by 211.5% in the 1st quarter. FIL Ltd now owns 6,085,150 shares of the company’s stock worth $158,242,000 after purchasing an additional 4,131,637 shares during the last quarter. Finally, NorthCoast Asset Management LLC bought a new position in Shaw Communications in the 1st quarter worth approximately $261,000. Institutional investors own 52.82% of the company’s stock.

SJR has been the subject of several research analyst reports. Canaccord Genuity cut shares of Shaw Communications from a “buy” rating to a “hold” rating and set a $40.50 price objective for the company. in a research report on Tuesday, September 7th. Zacks Investment Research cut shares of Shaw Communications from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a research report on Friday, June 4th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $33.36.

SJR traded up $0.28 during trading on Thursday, reaching $29.05. 3,931 shares of the company’s stock were exchanged, compared to its average volume of 600,228. The company’s fifty day moving average price is $28.99 and its 200-day moving average price is $28.37. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.76 and a current ratio of 0.80. Shaw Communications Inc. has a fifty-two week low of $16.12 and a fifty-two week high of $30.41. The firm has a market capitalization of $13.84 billion, a PE ratio of 20.55 and a beta of 0.71.

Shaw Communications (NYSE:SJR) (TSE:SJR.B) last released its earnings results on Tuesday, June 29th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.42. Shaw Communications had a net margin of 16.75% and a return on equity of 15.06%. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the business earned $0.35 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Research analysts forecast that Shaw Communications Inc. will post 1.29 earnings per share for the current fiscal year.

The company also recently declared a dividend, which will be paid on Wednesday, September 29th. Stockholders of record on Wednesday, September 15th will be issued a $0.079 dividend. This is a positive change from Shaw Communications’s previous dividend of $0.08. The ex-dividend date is Tuesday, September 14th. Shaw Communications’s payout ratio is 94.95%.

Shaw Communications Profile

Shaw Communications, Inc engages in the provision of cable telecommunications and satellite video services. The company was founded by James Robert Shaw on December 9, 1966 and is headquartered in Calgary, Canada.

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Institutional Ownership by Quarter for Shaw Communications (NYSE:SJR)

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