Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) announced a monthly dividend on Wednesday, April 12th, Wall Street Journal reports. Stockholders of record on Tuesday, August 15th will be given a dividend of 0.0736 per share on Wednesday, August 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date is Friday, August 11th.
Shaw Communications has decreased its dividend by an average of 3.3% annually over the last three years. Shaw Communications has a dividend payout ratio of 90.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Shaw Communications to earn $1.03 per share next year, which means the company should continue to be able to cover its $0.93 annual dividend with an expected future payout ratio of 90.3%.
Shaw Communications (SJR) traded up 0.68% during midday trading on Wednesday, hitting $22.06. The company had a trading volume of 403,959 shares. The stock has a 50 day moving average price of $21.96 and a 200-day moving average price of $21.43. The stock has a market capitalization of $10.88 billion, a PE ratio of 26.42 and a beta of 0.91. Shaw Communications has a 52 week low of $19.02 and a 52 week high of $23.31.
Shaw Communications (NYSE:SJR) (TSE:SJR.B) last announced its earnings results on Wednesday, June 28th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.19. Shaw Communications had a return on equity of 9.31% and a net margin of 10.01%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the company posted $0.11 EPS. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities analysts predict that Shaw Communications will post $1.04 EPS for the current year.
Several research analysts recently issued reports on the company. National Bank Financial lowered Shaw Communications from an “outperform market weight” rating to a “sector perform market weight” rating in a research report on Wednesday, June 28th. Canaccord Genuity set a $28.00 target price on Shaw Communications and gave the company a “hold” rating in a research report on Monday, May 1st. BidaskClub lowered Shaw Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, Zacks Investment Research raised Shaw Communications from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Thursday, June 15th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $27.00.
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Shaw Communications Company Profile
Shaw Communications Inc (Shaw) is a diversified connectivity provider. The Company operates through four divisions: Consumer, Wireless, Business Network Services and Business Infrastructure Services. Under the Consumer division, the Company offers Cable telecommunications and Satellite video services to residential customers.
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