Short Interest in Shaw Communications Inc (SJR) Increases By 110.0%

Shaw Communications Inc (NYSE:SJR) (TSE:SJR.B) was the target of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 3,335,106 shares, an increase of 110.0% from the January 12th total of 1,588,471 shares. Currently, 0.8% of the company’s stock are sold short. Based on an average daily trading volume, of 547,196 shares, the days-to-cover ratio is currently 6.1 days.

Several equities research analysts recently commented on SJR shares. TheStreet upgraded Shaw Communications from a “c” rating to a “b-” rating in a report on Monday, October 30th. TD Securities upgraded Shaw Communications to a “buy” rating in a report on Friday, January 12th. Barclays raised their target price on Shaw Communications from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, October 27th. Canaccord Genuity set a $28.00 target price on Shaw Communications and gave the company a “hold” rating in a report on Thursday, January 11th. Finally, Zacks Investment Research upgraded Shaw Communications from a “strong sell” rating to a “hold” rating in a report on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $27.00.

Shares of Shaw Communications (NYSE:SJR) opened at $20.43 on Thursday. Shaw Communications has a 12 month low of $20.13 and a 12 month high of $23.44. The company has a current ratio of 0.76, a quick ratio of 0.66 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $9,786.41, a P/E ratio of 14.80, a price-to-earnings-growth ratio of 4.32 and a beta of 0.88.

Shaw Communications (NYSE:SJR) (TSE:SJR.B) last issued its quarterly earnings data on Thursday, January 11th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). Shaw Communications had a net margin of 17.34% and a return on equity of 9.89%. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the business earned $0.18 EPS. Shaw Communications’s revenue for the quarter was up 2.7% compared to the same quarter last year. equities research analysts forecast that Shaw Communications will post 0.95 earnings per share for the current year.

The firm also recently disclosed a monthly dividend, which will be paid on Friday, April 27th. Shareholders of record on Friday, April 13th will be paid a dividend of $0.0795 per share. The ex-dividend date is Thursday, April 12th. This represents a $0.95 dividend on an annualized basis and a yield of 4.67%. Shaw Communications’s dividend payout ratio (DPR) is presently 66.67%.

A number of hedge funds and other institutional investors have recently modified their holdings of SJR. Advisor Group Inc. grew its stake in Shaw Communications by 170.3% during the 2nd quarter. Advisor Group Inc. now owns 4,687 shares of the company’s stock valued at $101,000 after purchasing an additional 2,953 shares in the last quarter. Icon Wealth Partners LLC acquired a new stake in Shaw Communications during the 4th quarter valued at approximately $118,000. Citadel Advisors LLC acquired a new stake in Shaw Communications during the 4th quarter valued at approximately $217,000. Ameriprise Financial Inc. acquired a new stake in Shaw Communications during the 2nd quarter valued at approximately $252,000. Finally, Sigma Planning Corp acquired a new stake in Shaw Communications during the 3rd quarter valued at approximately $258,000. Hedge funds and other institutional investors own 52.83% of the company’s stock.

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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.

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