Stonebridge Capital Management Inc. decreased its stake in shares of Shaw Communications Inc. (NYSE:SJR) by 5.7% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 16,575 shares of the company’s stock after selling 1,000 shares during the period. Stonebridge Capital Management Inc.’s holdings in Shaw Communications were worth $318,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Canada Pension Plan Investment Board boosted its position in Shaw Communications by 0.4% in the first quarter. Canada Pension Plan Investment Board now owns 7,272 shares of the company’s stock valued at $141,000 after buying an additional 28 shares during the period. Eqis Capital Management Inc. acquired a new position in Shaw Communications during the second quarter valued at $218,000. Ngam Advisors L.P. boosted its position in Shaw Communications by 32.6% in the first quarter. Ngam Advisors L.P. now owns 15,428 shares of the company’s stock valued at $298,000 after buying an additional 3,792 shares during the period. Commonwealth Equity Services Inc acquired a new position in Shaw Communications during the first quarter valued at $324,000. Finally, M&T Bank Corp boosted its position in Shaw Communications by 5.2% in the first quarter. M&T Bank Corp now owns 19,884 shares of the company’s stock valued at $385,000 after buying an additional 975 shares during the period. 51.86% of the stock is currently owned by institutional investors.
Shares of Shaw Communications Inc. (NYSE:SJR) traded up 1.34% on Thursday, hitting $20.40. The stock had a trading volume of 434,745 shares. The stock’s 50-day moving average price is $20.13 and its 200 day moving average price is $19.36. Shaw Communications Inc. has a 52 week low of $15.66 and a 52 week high of $21.41. The company has a market cap of $9.86 billion, a PE ratio of 9.71 and a beta of 0.85.
Shaw Communications (NYSE:SJR) last released its quarterly earnings results on Friday, July 15th. The company reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by $0.24. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. Shaw Communications had a return on equity of 12.21% and a net margin of 26.04%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 EPS. On average, analysts predict that Shaw Communications Inc. will post $0.88 EPS for the current year.
SJR has been the topic of several research analyst reports. TD Securities reaffirmed a “buy” rating and set a $28.00 target price on shares of Shaw Communications in a research note on Thursday, June 30th. Zacks Investment Research cut Shaw Communications from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 20th. BMO Capital Markets reissued a “hold” rating on shares of Shaw Communications in a research note on Monday, July 18th. Canaccord Genuity reissued a “hold” rating and issued a $24.00 price target (down previously from $25.00) on shares of Shaw Communications in a research note on Friday, July 15th. Finally, National Bank Financial raised Shaw Communications from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $24.50 to $27.00 in a research note on Monday, July 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. Shaw Communications has an average rating of “Hold” and a consensus price target of $25.56.
About Shaw Communications
Shaw Communications Inc (Shaw) is a communication company. The Company’s operating segments are Consumer, Business Network Services, Business Infrastructure Services and Media. The Consumer division provides cable telecommunications services, including video, Internet, wireless fidelity (WiFi) and digital phone, and satellite video to Canadian consumers.
Want to see what other hedge funds are holding SJR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shaw Communications Inc. (NYSE:SJR).
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.