Balyasny Asset Management LLC Has $28.89 Million Stake in Shaw Communications Inc. (NYSE:SJR)

Posted by Defense World Staff on Mar 15th, 2023

Balyasny Asset Management LLC trimmed its holdings in shares of Shaw Communications Inc. (NYSE:SJR – Get Rating) (TSE:SJR.B) by 13.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,188,141 shares of the company’s stock after selling 190,388 shares during the quarter. Balyasny Asset Management LLC owned about 0.25% of Shaw Communications worth $28,889,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. SeaCrest Wealth Management LLC acquired a new position in Shaw Communications during the second quarter worth $44,000. Eagle Bay Advisors LLC acquired a new position in Shaw Communications during the second quarter worth $44,000. Power Corp of Canada acquired a new position in Shaw Communications during the first quarter worth $54,000. Grayhawk Investment Strategies Inc. acquired a new position in Shaw Communications during the second quarter worth $66,000. Finally, Shell Asset Management Co. acquired a new stake in shares of Shaw Communications in the second quarter valued at about $177,000. 55.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SJR has been the topic of several research analyst reports. Royal Bank of Canada downgraded Shaw Communications from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, January 3rd. Scotiabank downgraded Shaw Communications from an “outperform” rating to a “sector perform” rating in a research report on Friday, January 13th. National Bank Financial downgraded Shaw Communications from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, January 4th. StockNews.com downgraded Shaw Communications from a “hold” rating to a “sell” rating in a research report on Friday, March 10th. Finally, Desjardins downgraded Shaw Communications from a “buy” rating to a “hold” rating in a research report on Friday, January 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $40.50.

Shaw Communications Stock Up 0.5 %

NYSE SJR opened at $28.67 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.63 and a current ratio of 0.68. The firm has a 50-day simple moving average of $29.07 and a 200 day simple moving average of $27.12. Shaw Communications Inc. has a twelve month low of $23.64 and a twelve month high of $31.60. The stock has a market cap of $13.69 billion, a PE ratio of 25.15 and a beta of 0.52.

Shaw Communications (NYSE:SJR – Get Rating) (TSE:SJR.B) last released its earnings results on Thursday, January 12th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.02). Shaw Communications had a net margin of 13.57% and a return on equity of 11.70%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. On average, research analysts forecast that Shaw Communications Inc. will post 1.09 EPS for the current year.

Shaw Communications Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, March 30th. Shareholders of record on Wednesday, March 15th will be paid a dividend of $0.074 per share. This is a boost from Shaw Communications’s previous monthly dividend of $0.07. The ex-dividend date is Tuesday, March 14th. This represents a $0.89 dividend on an annualized basis and a yield of 3.10%. Shaw Communications’s dividend payout ratio (DPR) is currently 78.07%.

About Shaw Communications

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Shaw Communications, Inc engages in the provision of cable telecommunications and satellite video services. The company was founded by James Robert Shaw on December 9, 1966 and is headquartered in Calgary, Canada.