Shaw Communications Inc (NYSE:SJR) (TSE:SJR.B) was the recipient of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 1,640,000 shares, an increase of 32.3% from the February 13th total of 1,240,000 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average daily trading volume, of 580,900 shares, the short-interest ratio is presently 2.8 days.
Separately, TD Securities upgraded Shaw Communications to a “buy” rating and set a $32.00 target price on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $28.25.
Shares of SJR opened at $15.06 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.50 and a debt-to-equity ratio of 0.65. Shaw Communications has a 1 year low of $13.72 and a 1 year high of $21.08. The stock has a market cap of $7.44 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 3.36 and a beta of 0.72. The stock’s 50-day moving average price is $18.76 and its two-hundred day moving average price is $19.74.
Shaw Communications (NYSE:SJR) (TSE:SJR.B) last issued its earnings results on Monday, January 13th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.03. Shaw Communications had a return on equity of 11.41% and a net margin of 13.22%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter last year, the business earned $0.36 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts forecast that Shaw Communications will post 1.01 EPS for the current year.
The business also recently announced a monthly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Friday, May 15th will be issued a dividend of $0.0757 per share. The ex-dividend date is Thursday, May 14th. This represents a $0.91 dividend on an annualized basis and a yield of 6.03%. This is a boost from Shaw Communications’s previous monthly dividend of $0.08. Shaw Communications’s dividend payout ratio (DPR) is 83.33%.
A number of institutional investors and hedge funds have recently modified their holdings of SJR. Tower Research Capital LLC TRC bought a new position in shares of Shaw Communications during the 3rd quarter valued at about $326,000. Dean Capital Investments Management LLC lifted its holdings in shares of Shaw Communications by 27.6% during the 3rd quarter. Dean Capital Investments Management LLC now owns 14,215 shares of the company’s stock valued at $279,000 after purchasing an additional 3,074 shares in the last quarter. Voya Investment Management LLC lifted its holdings in shares of Shaw Communications by 20.3% during the 3rd quarter. Voya Investment Management LLC now owns 20,789 shares of the company’s stock valued at $408,000 after purchasing an additional 3,503 shares in the last quarter. Pictet Asset Management Ltd. lifted its holdings in shares of Shaw Communications by 1.8% during the 3rd quarter. Pictet Asset Management Ltd. now owns 166,430 shares of the company’s stock valued at $3,272,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of Shaw Communications by 5.7% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 519,894 shares of the company’s stock valued at $10,221,000 after purchasing an additional 28,058 shares in the last quarter. Hedge funds and other institutional investors own 55.03% of the company’s stock.
About Shaw Communications
Shaw Communications Inc operates as a connectivity company in North America. The company operates through Wireline and Wireless segments. The Wireline segment provides broadband Internet, Shaw Go WiFi, video, and digital phone services to residential customers; and Internet, data, WiFi, digital phone, and video services to business customers.
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