Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in shares of Shaw Communications Inc (NYSE:SJR) (TSE:SJR.B) during the 4th quarter, HoldingsChannel reports. The fund bought 192,600 shares of the company’s stock, valued at approximately $5,526,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Icon Wealth Partners LLC acquired a new position in Shaw Communications during the fourth quarter worth $118,000. Advisor Group Inc. raised its holdings in Shaw Communications by 72.0% during the third quarter. Advisor Group Inc. now owns 8,061 shares of the company’s stock worth $186,000 after buying an additional 3,374 shares during the last quarter. Citadel Advisors LLC acquired a new position in Shaw Communications during the fourth quarter worth $217,000. First Republic Investment Management Inc. acquired a new position in Shaw Communications during the fourth quarter worth $284,000. Finally, Investors Research Corp acquired a new position in Shaw Communications during the fourth quarter worth $391,000. 53.97% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have weighed in on SJR shares. Bank of America restated a “neutral” rating and set a $32.00 price objective on shares of Shaw Communications in a report on Tuesday, December 5th. Zacks Investment Research downgraded shares of Shaw Communications from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Canaccord Genuity set a $28.00 price objective on shares of Shaw Communications and gave the stock a “hold” rating in a report on Thursday, January 11th. Finally, TD Securities upgraded shares of Shaw Communications to a “buy” rating in a report on Friday, January 12th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $27.00.
Shaw Communications (NYSE:SJR) (TSE:SJR.B) last announced its earnings results on Thursday, January 11th. The company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.06). The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Shaw Communications had a net margin of 17.34% and a return on equity of 9.89%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 EPS. sell-side analysts expect that Shaw Communications Inc will post 0.94 EPS for the current year.
The company also recently announced a monthly dividend, which will be paid on Friday, April 27th. Stockholders of record on Friday, April 13th will be issued a $0.0795 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $0.95 annualized dividend and a dividend yield of 5.12%. Shaw Communications’s dividend payout ratio is currently 68.84%.
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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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