Mawer Investment Management Ltd. raised its holdings in shares of Shaw Communications (NYSE:SJR) (TSE:SJR.B) by 4.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,048,276 shares of the company’s stock after purchasing an additional 425,693 shares during the quarter. Shaw Communications accounts for about 1.6% of Mawer Investment Management Ltd.’s portfolio, making the stock its 22nd largest position. Mawer Investment Management Ltd. owned about 2.09% of Shaw Communications worth $193,420,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the business. Mackenzie Financial Corp increased its position in Shaw Communications by 1,002.5% during the 4th quarter. Mackenzie Financial Corp now owns 49,025,287 shares of the company’s stock valued at $1,119,247,000 after purchasing an additional 44,578,411 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its stake in Shaw Communications by 14.3% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 9,331,842 shares of the company’s stock valued at $213,680,000 after acquiring an additional 1,166,633 shares during the period. CIBC Asset Management Inc increased its holdings in shares of Shaw Communications by 10.4% during the 4th quarter. CIBC Asset Management Inc now owns 7,953,685 shares of the company’s stock valued at $182,297,000 after purchasing an additional 748,756 shares in the last quarter. CIBC World Markets Inc. increased its holdings in shares of Shaw Communications by 0.3% during the 4th quarter. CIBC World Markets Inc. now owns 5,654,060 shares of the company’s stock valued at $129,082,000 after purchasing an additional 17,914 shares in the last quarter. Finally, Parnassus Investments CA increased its holdings in shares of Shaw Communications by 7.8% during the 4th quarter. Parnassus Investments CA now owns 4,528,796 shares of the company’s stock valued at $103,392,000 after purchasing an additional 328,796 shares in the last quarter. Institutional investors and hedge funds own 52.40% of the company’s stock.
Several equities research analysts recently commented on the stock. Scotiabank raised shares of Shaw Communications from a “sector perform” rating to an “outperform” rating in a report on Friday, April 13th. Canaccord Genuity set a $28.00 target price on shares of Shaw Communications and gave the stock a “hold” rating in a research note on Tuesday, April 10th. Zacks Investment Research raised shares of Shaw Communications from a “sell” rating to a “hold” rating in a research report on Thursday, April 12th. Finally, Barclays raised shares of Shaw Communications from an “equal weight” rating to an “overweight” rating in a research report on Thursday, April 12th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $27.00.
Shaw Communications (NYSE:SJR) (TSE:SJR.B) last posted its quarterly earnings data on Thursday, April 12th. The company reported $0.40 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the company earned $0.30 earnings per share. The company’s revenue was up 12.4% compared to the same quarter last year. research analysts expect that Shaw Communications will post 0.95 earnings per share for the current fiscal year.
The firm also recently disclosed a monthly dividend, which will be paid on Thursday, August 30th. Shareholders of record on Wednesday, August 15th will be given a $0.0773 dividend. This represents a $0.93 annualized dividend and a yield of 4.57%. The ex-dividend date is Tuesday, August 14th. Shaw Communications’s payout ratio is 113.10%.
About Shaw Communications
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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