Shares of Shaw Communications Inc (NYSE:SJR) (TSE:SJR.B) traded up 5.2% during mid-day trading on Wednesday following a dividend announcement from the company. The stock traded as high as $21.69 and last traded at $21.69, with a volume of 1,338,736 shares changing hands. The stock had previously closed at $20.62.
The newly announced dividend which will be paid on Friday, July 28th. Stockholders of record on Friday, July 14th will be given a $0.0736 dividend. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.15%. Shaw Communications’s payout ratio is presently 53.22%.
A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity reissued a “hold” rating and issued a $28.00 target price on shares of Shaw Communications in a research report on Thursday. Citigroup Inc assumed coverage on shares of Shaw Communications in a research report on Thursday, April 6th. They issued a “sell” rating for the company. Barclays PLC reissued a “hold” rating and issued a $21.00 target price on shares of Shaw Communications in a research report on Monday, January 16th. Zacks Investment Research raised shares of Shaw Communications from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Monday, January 16th. Finally, Desjardins cut shares of Shaw Communications from a “buy” rating to a “hold” rating and set a $28.00 target price for the company. in a research report on Wednesday, December 21st. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Shaw Communications currently has an average rating of “Hold” and a consensus price target of $26.88.
The company has a market capitalization of $10.40 billion, a price-to-earnings ratio of 12.60 and a beta of 0.95. The company’s 50-day moving average price is $20.72 and its 200-day moving average price is $20.45.
Shaw Communications (NYSE:SJR) last released its quarterly earnings results on Wednesday, April 12th. The company reported $0.23 EPS for the quarter, meeting analysts’ consensus estimates of $0.23. The business earned $1.30 billion during the quarter, compared to analyst estimates of $1.32 billion. Shaw Communications had a return on equity of 9.73% and a net margin of 22.09%. Shaw Communications’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 EPS. On average, analysts expect that Shaw Communications Inc will post $0.94 EPS for the current year.
A number of large investors have recently added to or reduced their stakes in SJR. CIBC World Markets Inc. raised its stake in Shaw Communications by 1.8% in the third quarter. CIBC World Markets Inc. now owns 5,603,651 shares of the company’s stock worth $114,651,000 after buying an additional 99,575 shares during the last quarter. Cidel Asset Management Inc. raised its stake in Shaw Communications by 3.5% in the third quarter. Cidel Asset Management Inc. now owns 929,589 shares of the company’s stock worth $19,028,000 after buying an additional 31,144 shares during the last quarter. Emerald Acquisition Ltd. raised its stake in Shaw Communications by 19.1% in the third quarter. Emerald Acquisition Ltd. now owns 1,059,234 shares of the company’s stock worth $21,632,000 after buying an additional 169,643 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Shaw Communications by 5.1% in the third quarter. JPMorgan Chase & Co. now owns 980,495 shares of the company’s stock worth $20,062,000 after buying an additional 47,864 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in Shaw Communications by 46.2% in the fourth quarter. Franklin Resources Inc. now owns 289,396 shares of the company’s stock worth $5,806,000 after buying an additional 91,410 shares during the last quarter. 52.66% of the stock is owned by institutional investors and hedge funds.
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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