Tetrem Capital Management Ltd. lowered its position in Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) by 5.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,045,796 shares of the company’s stock after selling 63,107 shares during the period. Tetrem Capital Management Ltd. owned about 0.21% of Shaw Communications worth $22,799,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Cutler Group LP raised its position 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 acquiring an additional 5,900 shares during the period. Fort Washington Investment Advisors Inc. OH acquired a new position in shares of Shaw Communications in the first quarter worth about $204,000. US Bancorp DE raised its position 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 acquiring an additional 1,267 shares during the period. Wetherby Asset Management Inc. raised its position 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 acquiring an additional 439 shares during the period. Finally, Ameriprise Financial Inc. acquired a new position in shares of Shaw Communications in the second quarter worth about $252,000. Institutional investors and hedge funds own 51.83% of the company’s stock.
Shaw Communications Inc. (NYSE:SJR) traded up 0.66% during mid-day trading on Tuesday, hitting $22.76. 65,976 shares of the stock were exchanged. The company has a 50-day moving average price of $22.19 and a 200-day moving average price of $21.59. The company has a market cap of $11.23 billion, a P/E ratio of 27.19 and a beta of 0.90. Shaw Communications Inc. has a one year low of $19.02 and a one year high of $23.31.
Shaw Communications (NYSE:SJR) (TSE:SJR.B) last announced its 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 analysts’ expectations of $1.32 billion. Shaw Communications had a net margin of 10.01% and a return on equity of 9.31%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.11 earnings per share. Analysts forecast that Shaw Communications Inc. will post $1.09 earnings per share for the current fiscal year.
The firm also recently announced a monthly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.0744 per share. This represents a $0.89 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend is Tuesday, November 14th. Shaw Communications’s payout ratio is currently 118.75%.
SJR has been the subject of a number of analyst reports. BidaskClub upgraded shares of Shaw Communications from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Zacks Investment Research upgraded shares of Shaw Communications from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report 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 report on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target 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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