Korea Investment CORP Raises Position in Shaw Communications Inc. (SJR)
Korea Investment CORP raised its position in shares of Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) by 3.2% during the second quarter, Holdings Channel reports. The fund owned 26,508 shares of the company’s stock after buying an additional 824 shares during the period. Korea Investment CORP’s holdings in Shaw Communications were worth $577,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in SJR. Greenleaf Trust boosted its stake in shares of 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. Comerica Bank boosted its stake in shares of Shaw Communications by 1.5% in the first quarter. Comerica Bank now owns 26,749 shares of the company’s stock worth $570,000 after buying an additional 394 shares during the last quarter. Stonebridge Capital Management Inc. boosted its stake in shares of Shaw Communications by 1.5% in the second quarter. Stonebridge Capital Management Inc. now owns 28,525 shares of the company’s stock worth $622,000 after buying an additional 425 shares during the last quarter. World Asset Management Inc boosted its stake in shares of Shaw Communications by 1.7% in the first quarter. World Asset Management Inc now owns 28,853 shares of the company’s stock worth $598,000 after buying an additional 496 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Shaw Communications by 4.2% in the second quarter. Janney Montgomery Scott LLC now owns 12,888 shares of the company’s stock worth $281,000 after buying an additional 516 shares during the last quarter. 53.35% of the stock is owned by institutional investors and hedge funds.
Shaw Communications Inc. (SJR) opened at 21.91 on Wednesday. The stock has a market capitalization of $10.81 billion, a PE ratio of 26.24 and a beta of 0.91. The company’s 50-day moving average is $21.96 and its 200 day moving average is $21.43. Shaw Communications Inc. has a 12-month low of $19.02 and a 12-month high of $23.31.
Shaw Communications (NYSE:SJR) (TSE:SJR.B) last posted its earnings results on Wednesday, June 28th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.19. The firm had revenue of $1.31 billion during 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%. Shaw Communications’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.11 EPS. On average, analysts predict that Shaw Communications Inc. will post $1.04 EPS for the current year.
The company also recently announced a monthly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.0744 per share. This represents a $0.89 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date of this dividend is Tuesday, November 14th. Shaw Communications’s payout ratio is 118.75%.
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A number of brokerages have recently commented on SJR. National Bank Financial cut shares of Shaw Communications from an “outperform market weight” rating to a “sector perform market weight” rating in a report on Wednesday, June 28th. Canaccord Genuity set a $28.00 target price on shares of Shaw Communications and gave the company a “hold” rating in a report on Monday, May 1st. BidaskClub cut shares of Shaw Communications from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, Zacks Investment Research raised shares of Shaw Communications from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Thursday, June 15th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price 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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