Shaw Communications Inc. (NYSE:SJR) Sees Significant Decline in Short Interest

Shaw Communications Inc. (NYSE:SJRGet Rating) (TSE:SJR.B) was the recipient of a large decline in short interest during the month of April. As of April 30th, there was short interest totalling 3,060,000 shares, a decline of 67.9% from the April 15th total of 9,520,000 shares. Approximately 0.7% of the shares of the stock are sold short. Based on an average daily volume of 402,200 shares, the short-interest ratio is presently 7.6 days.

SJR has been the subject of several research reports. CIBC boosted their price objective on shares of Shaw Communications from C$27.00 to C$40.50 in a research note on Tuesday, January 25th. StockNews.com raised shares of Shaw Communications from a “sell” rating to a “hold” rating in a research report on Friday, April 22nd. National Bank Financial lowered shares of Shaw Communications from an “outperform” rating to a “sector perform” rating in a research note on Thursday, April 14th. Finally, Zacks Investment Research lowered shares of Shaw Communications from a “hold” rating to a “sell” rating and set a $32.00 price objective on the stock. in a research note on Tuesday, April 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $37.67.

A number of institutional investors and hedge funds have recently made changes to their positions in SJR. Advisor Partners LLC boosted its position in shares of Shaw Communications by 5.3% during the fourth quarter. Advisor Partners LLC now owns 10,403 shares of the company’s stock worth $316,000 after purchasing an additional 524 shares in the last quarter. Advisor Group Holdings Inc. grew its stake in Shaw Communications by 3.7% in the 1st quarter. Advisor Group Holdings Inc. now owns 15,193 shares of the company’s stock valued at $472,000 after buying an additional 540 shares during the last quarter. Cardinal Capital Management Inc. grew its stake in Shaw Communications by 3.8% in the 1st quarter. Cardinal Capital Management Inc. now owns 21,836 shares of the company’s stock valued at $678,000 after buying an additional 805 shares during the last quarter. Quadrant Capital Group LLC grew its stake in Shaw Communications by 16.2% in the 4th quarter. Quadrant Capital Group LLC now owns 5,892 shares of the company’s stock valued at $179,000 after buying an additional 821 shares during the last quarter. Finally, US Bancorp DE grew its stake in Shaw Communications by 13.1% in the 3rd quarter. US Bancorp DE now owns 7,634 shares of the company’s stock valued at $221,000 after buying an additional 886 shares during the last quarter. Hedge funds and other institutional investors own 56.04% of the company’s stock.

Shares of SJR traded up $0.02 during mid-day trading on Thursday, reaching $26.21. The company’s stock had a trading volume of 32,289 shares, compared to its average volume of 405,400. Shaw Communications has a 1 year low of $25.88 and a 1 year high of $31.60. The company has a quick ratio of 0.82, a current ratio of 0.87 and a debt-to-equity ratio of 0.74. The company has a market cap of $12.50 billion, a price-to-earnings ratio of 16.58 and a beta of 0.66. The business has a fifty day moving average of $30.26 and a 200 day moving average of $29.75.

Shaw Communications (NYSE:SJRGet Rating) (TSE:SJR.B) last issued its quarterly earnings results on Wednesday, April 13th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.38 billion. Shaw Communications had a net margin of 18.19% and a return on equity of 16.57%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.34 earnings per share. On average, analysts predict that Shaw Communications will post 1.26 earnings per share for the current year.

The firm also recently declared a monthly dividend, which will be paid on Thursday, July 28th. Shareholders of record on Friday, July 15th will be paid a dividend of $0.0767 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date is Thursday, July 14th. Shaw Communications’s dividend payout ratio is 60.13%.

Shaw Communications Company Profile (Get Rating)

Shaw Communications Inc operates as a connectivity company in North America. The company operates through Wireline and Wireless segments. The company's Wireline segment provides cable telecommunications services, including video, Internet, WiFi, phone, satellite video, and data networking through a national fibre-optic backbone network to Canadian consumers, North American businesses, and public-sector entities.

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