Marshall Wace North America L.P. grew its stake in Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) by 31.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,715 shares of the company’s stock after purchasing an additional 7,639 shares during the period. Marshall Wace North America L.P.’s holdings in Shaw Communications were worth $698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Nikko Asset Management Americas Inc. lifted its holdings in Shaw Communications by 105.8% in the second quarter. Nikko Asset Management Americas Inc. now owns 117,100 shares of the company’s stock valued at $2,550,000 after acquiring an additional 60,200 shares during the last quarter. Addenda Capital Inc. lifted its stake in Shaw Communications by 157.6% during the second quarter. Addenda Capital Inc. now owns 124,940 shares of the company’s stock worth $2,720,000 after purchasing an additional 76,430 shares in the last quarter. Cidel Asset Management Inc. lifted its stake in Shaw Communications by 1.1% during the second quarter. Cidel Asset Management Inc. now owns 235,732 shares of the company’s stock worth $5,137,000 after purchasing an additional 2,500 shares in the last quarter. Highstreet Asset Management Inc. lifted its stake in Shaw Communications by 396.8% during the second quarter. Highstreet Asset Management Inc. now owns 516,895 shares of the company’s stock worth $11,282,000 after purchasing an additional 412,847 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in Shaw Communications by 1.8% during the second quarter. Legal & General Group Plc now owns 2,028,364 shares of the company’s stock worth $42,861,000 after purchasing an additional 35,194 shares in the last quarter. Institutional investors and hedge funds own 51.86% of the company’s stock.
A number of research analysts have commented on the company. National Bank Financial cut Shaw Communications from an “outperform market weight” rating to a “sector perform market weight” rating in a research note on Wednesday, June 28th. BidaskClub raised Shaw Communications from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd. Finally, Zacks Investment Research raised Shaw Communications from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Thursday, June 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Shaw Communications presently has an average rating of “Hold” and an average price target of $27.00.
Shares of Shaw Communications Inc. (SJR) opened at 22.78 on Tuesday. The stock has a market capitalization of $11.24 billion, a PE ratio of 27.58 and a beta of 0.90. The firm has a 50-day moving average of $22.10 and a 200 day moving average of $21.51. Shaw Communications Inc. has a 1-year low of $19.02 and a 1-year 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 for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.19. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.32 billion. Shaw Communications had a net margin of 10.01% and a return on equity of 9.31%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 EPS. On average, equities analysts anticipate that Shaw Communications Inc. will post $1.09 earnings per share for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Wednesday, November 29th. Stockholders of record on Wednesday, November 15th will be paid a dividend of $0.0744 per share. The ex-dividend date is Tuesday, November 14th. This represents a $0.89 annualized dividend and a dividend yield of 3.92%. Shaw Communications’s dividend payout ratio (DPR) is 118.75%.
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About Shaw Communications
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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