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.
This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/shaw-communications-inc-sjr-stock-price-up-5-2-after-dividend-announcement/1739756.html
Receive News & Ratings for Shaw Communications Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shaw Communications Inc and related companies with MarketBeat.com's FREE daily email newsletter.