Shaw Communications (NYSE:SJR) Hits New 52-Week Low at $25.08

Shaw Communications Inc. (NYSE:SJRGet Rating) (TSE:SJR.B)’s share price hit a new 52-week low on Wednesday . The company traded as low as $25.08 and last traded at $25.16, with a volume of 1056 shares changing hands. The stock had previously closed at $25.22.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SJR. Canaccord Genuity Group raised shares of Shaw Communications from a “hold” rating to a “buy” rating in a report on Tuesday, June 21st. Scotiabank reissued a “sector perform” rating and issued a $38.00 price target on shares of Shaw Communications in a report on Tuesday, June 28th. Finally, Canaccord Genuity Group raised shares of Shaw Communications from a “hold” rating to a “buy” rating in a report on Tuesday, June 21st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.25.

Shaw Communications Stock Up 0.1 %

The business’s fifty day moving average price is $26.49 and its 200 day moving average price is $28.22. The company has a market capitalization of $11.96 billion, a P/E ratio of 18.70 and a beta of 0.53. The company has a current ratio of 0.95, a quick ratio of 0.90 and a debt-to-equity ratio of 0.72.

Shaw Communications (NYSE:SJRGet Rating) (TSE:SJR.B) last released its quarterly earnings data on Thursday, June 30th. The company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. Shaw Communications had a net margin of 15.50% and a return on equity of 13.83%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the firm earned $0.70 EPS. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, equities research analysts predict that Shaw Communications Inc. will post 1.22 earnings per share for the current fiscal year.

Shaw Communications Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Thursday, December 15th will be given a dividend of $0.0767 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Wednesday, December 14th. Shaw Communications’s dividend payout ratio is 67.16%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Amundi lifted its stake in Shaw Communications by 69.2% in the second quarter. Amundi now owns 271,659 shares of the company’s stock valued at $7,020,000 after buying an additional 111,140 shares in the last quarter. Prelude Capital Management LLC increased its holdings in shares of Shaw Communications by 3.9% in the second quarter. Prelude Capital Management LLC now owns 242,497 shares of the company’s stock valued at $7,144,000 after purchasing an additional 9,089 shares during the last quarter. Eagle Bay Advisors LLC acquired a new position in shares of Shaw Communications in the second quarter valued at $44,000. JCIC Asset Management Inc. increased its holdings in shares of Shaw Communications by 55.4% in the second quarter. JCIC Asset Management Inc. now owns 253,144 shares of the company’s stock valued at $7,459,000 after purchasing an additional 90,276 shares during the last quarter. Finally, United Services Automobile Association acquired a new position in shares of Shaw Communications in the second quarter valued at about $601,000. Institutional investors own 55.21% of the company’s stock.

About Shaw Communications

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Shaw Communications Inc operates as a connectivity company in North America. The company operates through Wireline and Wireless segments. The company's Wireline segment provides cable telecommunications services, including video, Internet, WiFi, phone, satellite video, and data networking through a national fibre-optic backbone network to Canadian consumers, North American businesses, and public-sector entities.

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