Short Interest in Shaw Communications Inc (SJR) Increases By 110.0%
Shaw Communications Inc (NYSE:SJR) (TSE:SJR.B) saw a large increase in short interest in 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. Based on an average trading volume of 547,196 shares, the days-to-cover ratio is currently 6.1 days. Approximately 0.8% of the shares of the company are short sold.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Northern Trust Corp lifted its holdings in shares of Shaw Communications by 0.4% in the 2nd quarter. Northern Trust Corp now owns 423,151 shares of the company’s stock worth $9,221,000 after purchasing an additional 1,884 shares during the last quarter. Commonwealth Bank of Australia lifted its holdings in shares of Shaw Communications by 3.6% in the 3rd quarter. Commonwealth Bank of Australia now owns 74,568 shares of the company’s stock worth $1,714,000 after purchasing an additional 2,591 shares during the last quarter. Voya Investment Management LLC lifted its holdings in shares of Shaw Communications by 10.2% in the 2nd quarter. Voya Investment Management LLC now owns 30,276 shares of the company’s stock worth $659,000 after purchasing an additional 2,794 shares during the last quarter. Advisor Group Inc. lifted its holdings in shares of Shaw Communications by 170.3% in the 2nd quarter. Advisor Group Inc. now owns 4,687 shares of the company’s stock worth $101,000 after purchasing an additional 2,953 shares during the last quarter. Finally, AMP Capital Investors Ltd lifted its holdings in shares of Shaw Communications by 2.4% in the 3rd quarter. AMP Capital Investors Ltd now owns 136,210 shares of the company’s stock worth $3,130,000 after purchasing an additional 3,200 shares during the last quarter. 52.83% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently commented on SJR. TD Securities upgraded Shaw Communications to a “buy” rating in a research report on Friday, January 12th. Canaccord Genuity set a $28.00 target price on Shaw Communications and gave the stock a “hold” rating in a research report on Thursday, January 11th. Zacks Investment Research lowered Shaw Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. Bank of America reiterated a “neutral” rating and issued a $32.00 target price on shares of Shaw Communications in a research report on Tuesday, December 5th. Finally, TheStreet upgraded Shaw Communications from a “c” rating to a “b-” rating in a research report on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. Shaw Communications has an average rating of “Hold” and an average price target of $27.00.
Shaw Communications (NYSE:SJR) (TSE:SJR.B) last issued its earnings results on Thursday, January 11th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.06). The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.26 billion. Shaw Communications had a return on equity of 9.89% and a net margin of 17.34%. Shaw Communications’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 EPS. research analysts expect that Shaw Communications will post 0.95 earnings per share for the current year.
The business also recently declared a monthly dividend, which will be paid on Friday, April 27th. Investors of record on Friday, April 13th will be issued a $0.0795 dividend. This represents a $0.95 annualized dividend and a dividend yield of 4.67%. The ex-dividend date is Thursday, April 12th. Shaw Communications’s dividend payout ratio (DPR) is 66.67%.
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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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