Candriam Luxembourg S.C.A. Cuts Position in Shaw Communications Inc. (NYSE:SJR)
Candriam Luxembourg S.C.A. cut its position in Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) by 38.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 349,731 shares of the company’s stock after selling 215,725 shares during the period. Candriam Luxembourg S.C.A. owned 0.07% of Shaw Communications worth $7,619,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Cutler Group LP boosted its position in 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 in the last quarter. Fort Washington Investment Advisors Inc. OH bought a new position in Shaw Communications during the first quarter worth about $204,000. Wetherby Asset Management Inc. bought a new position in Shaw Communications during the first quarter worth about $205,000. US Bancorp DE raised its stake in 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 last quarter. Finally, Greenleaf Trust raised its stake in Shaw Communications by 1.7% in the first quarter. Greenleaf Trust now owns 11,228 shares of the company’s stock worth $233,000 after buying an additional 190 shares during the last quarter. 53.35% of the stock is owned by institutional investors and hedge funds.
Shaw Communications Inc. (NYSE:SJR) traded up 0.68% during mid-day trading on Wednesday, reaching $22.06. 403,959 shares of the company traded hands. The stock’s 50 day moving average price is $21.96 and its 200 day moving average price is $21.43. Shaw Communications Inc. has a 52 week low of $19.02 and a 52 week high of $23.31. The firm has a market capitalization of $10.88 billion, a price-to-earnings ratio of 26.42 and a beta of 0.91.
Shaw Communications (NYSE:SJR) (TSE:SJR.B) last released its quarterly earnings results on Wednesday, June 28th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.25 by $0.19. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.32 billion. Shaw Communications had a net margin of 10.01% and a return on equity of 9.31%. Shaw Communications’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.11 EPS. Equities analysts forecast that Shaw Communications Inc. will post $1.04 EPS for the current year.
The company also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.89 dividend on an annualized basis and a yield of 4.05%. Shaw Communications’s payout ratio is currently 118.75%.
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A number of analysts have recently weighed in on SJR shares. Canaccord Genuity set a $28.00 price objective on shares of Shaw Communications and gave the stock a “hold” rating in a research note on Monday, May 1st. Zacks Investment Research upgraded shares of Shaw Communications from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Thursday, June 15th. BidaskClub upgraded shares of Shaw Communications from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Finally, National Bank Financial lowered 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. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $27.00.
Shaw Communications Company 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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