Scotia Capital Inc. Trims Position in Shaw Communications Inc (NYSE:SJR)

Scotia Capital Inc. lessened its holdings in shares of Shaw Communications Inc (NYSE:SJR) (TSE:SJR.B) by 7.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,099,723 shares of the company’s stock after selling 169,710 shares during the quarter. Scotia Capital Inc. owned approximately 0.43% of Shaw Communications worth $42,646,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Parallel Advisors LLC purchased a new stake in Shaw Communications during the 1st quarter valued at about $31,000. Pacer Advisors Inc. purchased a new position in shares of Shaw Communications in the second quarter valued at about $32,000. Cutler Group LP bought a new position in Shaw Communications in the 1st quarter worth approximately $35,000. Signaturefd LLC grew its stake in Shaw Communications by 53.2% during the second quarter. Signaturefd LLC now owns 3,707 shares of the company’s stock valued at $76,000 after acquiring an additional 1,288 shares in the last quarter. Finally, Icon Wealth Partners LLC purchased a new position in shares of Shaw Communications during the first quarter valued at about $90,000. 55.12% of the stock is owned by institutional investors.

Shares of Shaw Communications stock traded down $0.03 during trading hours on Wednesday, reaching $20.18. The stock had a trading volume of 29,464 shares, compared to its average volume of 311,659. The stock’s 50 day moving average is $19.39 and its 200 day moving average is $20.14. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 0.65. Shaw Communications Inc has a twelve month low of $17.50 and a twelve month high of $21.08. The firm has a market capitalization of $9.81 billion, a PE ratio of 17.09, a PEG ratio of 3.63 and a beta of 0.73.

Shaw Communications (NYSE:SJR) (TSE:SJR.B) last announced its quarterly earnings results on Thursday, June 27th. The company reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.08. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.34 billion. Shaw Communications had a return on equity of 12.54% and a net margin of 14.42%. Shaw Communications’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.18) EPS. As a group, sell-side analysts predict that Shaw Communications Inc will post 1.1 earnings per share for the current year.

The company also recently disclosed a dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Thursday, September 12th. Shaw Communications’s dividend payout ratio is currently 76.27%.

A number of brokerages have recently issued reports on SJR. Canaccord Genuity raised shares of Shaw Communications from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. BMO Capital Markets reissued a “hold” rating and set a $28.00 target price on shares of Shaw Communications in a research report on Monday. Desjardins reissued a “buy” rating on shares of Shaw Communications in a report on Friday, June 28th. Finally, TheStreet lowered shares of Shaw Communications from a “b-” rating to a “c+” rating in a report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Shaw Communications presently has a consensus rating of “Hold” and a consensus target price of $27.00.

Shaw Communications Company Profile

Shaw Communications Inc operates as a connectivity company in North America. The company operates through Wireline and Wireless segments. The Wireline segment provides broadband Internet, Shaw Go WiFi, video, and digital phone services to residential customers; and Internet, data, WiFi, digital phone, and video services to business customers.

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Institutional Ownership by Quarter for Shaw Communications (NYSE:SJR)

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