M&T Bank Corp decreased its stake in Shaw Communications (NYSE:SJR) (TSE:SJR.B) by 43.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,820 shares of the company’s stock after selling 20,635 shares during the period. M&T Bank Corp’s holdings in Shaw Communications were worth $516,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Icon Wealth Partners LLC purchased a new stake in shares of Shaw Communications in the fourth quarter worth about $118,000. Citadel Advisors LLC purchased a new stake in shares of Shaw Communications in the fourth quarter worth about $217,000. First Republic Investment Management Inc. purchased a new stake in shares of Shaw Communications in the fourth quarter worth about $284,000. Investors Research Corp purchased a new stake in shares of Shaw Communications in the fourth quarter worth about $391,000. Finally, Quantitative Systematic Strategies LLC acquired a new position in shares of Shaw Communications in the fourth quarter worth about $467,000. 53.75% of the stock is owned by institutional investors.
SJR has been the topic of several recent analyst reports. Canaccord Genuity set a $28.00 price target on Shaw Communications and gave the stock a “hold” rating in a research note on Tuesday, April 10th. Barclays upgraded Shaw Communications from an “equal weight” rating to an “overweight” rating in a research note on Thursday, April 12th. Zacks Investment Research upgraded Shaw Communications from a “sell” rating to a “hold” rating in a research note on Thursday, April 12th. Scotiabank upgraded Shaw Communications from a “sector perform” rating to an “outperform” rating in a research note on Friday, April 13th. Finally, TheStreet cut Shaw Communications from a “b-” rating to a “c” rating in a research note on Friday, May 18th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $27.00.
Shaw Communications opened at $20.43 on Wednesday, MarketBeat Ratings reports. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.54 and a current ratio of 0.63. Shaw Communications has a one year low of $18.50 and a one year high of $23.44. The stock has a market capitalization of $9.80 billion, a P/E ratio of 24.32, a price-to-earnings-growth ratio of 4.28 and a beta of 0.94.
Shaw Communications (NYSE:SJR) (TSE:SJR.B) last released its quarterly earnings results on Thursday, April 12th. The company reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.17. Shaw Communications had a return on equity of 11.49% and a net margin of 10.97%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the firm posted $0.30 earnings per share. The company’s revenue was up 12.4% compared to the same quarter last year. equities research analysts predict that Shaw Communications will post 0.95 earnings per share for the current year.
The company also recently disclosed a monthly dividend, which will be paid on Thursday, August 30th. Shareholders of record on Wednesday, August 15th will be paid a dividend of $0.0773 per share. This represents a $0.93 annualized dividend and a yield of 4.54%. The ex-dividend date is Tuesday, August 14th. Shaw Communications’s payout ratio is currently 113.10%.
Shaw Communications Profile
Shaw Communications Inc operates as a diversified communications company in North America. The company operates through Consumer, Business Network Services, and Wireless segments. The Consumer segment provides cable telecommunications services, including video, Internet, Wi-Fi, phone, and satellite video services to residential customers.
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