Barometer Capital Management Inc. Sells 113,796 Shares of Shaw Communications Inc. (SJR)

Barometer Capital Management Inc. lowered its position in Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) by 23.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 380,300 shares of the company’s stock after selling 113,796 shares during the period. Barometer Capital Management Inc. owned approximately 0.08% of Shaw Communications worth $8,287,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Cutler Group LP boosted its stake in Shaw Communications by 983.3% in the second quarter. Cutler Group LP now owns 6,500 shares of the company’s stock valued at $141,000 after buying an additional 5,900 shares in the last quarter. Fort Washington Investment Advisors Inc. OH acquired a new stake in Shaw Communications during the first quarter valued at approximately $204,000. Wetherby Asset Management Inc. acquired a new stake in Shaw Communications during the first quarter valued at approximately $205,000. US Bancorp DE boosted its stake in Shaw Communications by 14.6% in the second quarter. US Bancorp DE now owns 9,921 shares of the company’s stock valued at $217,000 after buying an additional 1,267 shares in the last quarter. Finally, Greenleaf Trust boosted its stake in Shaw Communications by 1.7% in the first quarter. Greenleaf Trust now owns 11,228 shares of the company’s stock valued at $233,000 after buying an additional 190 shares in the last quarter. Institutional investors and hedge funds own 53.35% of the company’s stock.

Shares of Shaw Communications Inc. (NYSE SJR) remained flat at $21.92 during trading on Friday. 555,115 shares of the company’s stock were exchanged. Shaw Communications Inc. has a 52-week low of $19.02 and a 52-week high of $23.31. The firm’s 50 day moving average price is $21.89 and its 200-day moving average price is $21.44. The firm has a market cap of $10.81 billion, a P/E ratio of 26.25 and a beta of 0.91.

Shaw Communications (NYSE:SJR) (TSE:SJR.B) last posted its quarterly earnings data on Wednesday, June 28th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.19. Shaw Communications had a net margin of 10.01% and a return on equity of 9.31%. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the company posted $0.11 EPS. Shaw Communications’s revenue was up 2.8% on a year-over-year basis. On average, equities research analysts predict that Shaw Communications Inc. will post $1.05 earnings per share for the current fiscal year.

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, November 29th. Investors of record on Wednesday, November 15th will be given a $0.0744 dividend. This represents a $0.89 annualized dividend and a yield of 4.08%. The ex-dividend date is Tuesday, November 14th. Shaw Communications’s dividend payout ratio (DPR) is presently 118.75%.

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Several analysts recently commented on SJR shares. BidaskClub upgraded Shaw Communications from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Zacks Investment Research upgraded 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. 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. Finally, National Bank Financial cut Shaw Communications from an “outperform market weight” rating to a “sector perform market weight” rating in a research report on Wednesday, June 28th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $27.00.

About Shaw Communications

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.

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

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