Shaw Communications Inc. (NYSE:SJR) Short Interest Down 15.9% in May

Shaw Communications Inc. (NYSE:SJRGet Rating) (TSE:SJR.B) was the target of a large decline in short interest in May. As of May 31st, there was short interest totalling 2,690,000 shares, a decline of 15.9% from the May 15th total of 3,200,000 shares. Based on an average daily volume of 490,900 shares, the short-interest ratio is currently 5.5 days. Currently, 0.6% of the company’s stock are sold short.

Several equities analysts have recently weighed in on the company. National Bank Financial upgraded Shaw Communications from a “sector perform” rating to an “outperform” rating in a report on Wednesday, May 18th. StockNews.com raised shares of Shaw Communications from a “sell” rating to a “hold” rating in a research report on Friday, April 22nd.

Shaw Communications stock traded up $0.34 during midday trading on Friday, hitting $26.71. The company’s stock had a trading volume of 21,065 shares, compared to its average volume of 394,313. Shaw Communications has a 1-year low of $25.63 and a 1-year high of $31.60. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.87 and a quick ratio of 0.82. The company has a 50-day moving average price of $28.74 and a two-hundred day moving average price of $29.52. The company has a market cap of $12.74 billion, a price-to-earnings ratio of 16.86 and a beta of 0.66.

Shaw Communications (NYSE:SJRGet Rating) (TSE:SJR.B) last issued its earnings results on Wednesday, April 13th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.01). The firm 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%. Shaw Communications’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.34 earnings per share. Sell-side analysts forecast that Shaw Communications will post 1.26 EPS for the current year.

The business also recently disclosed a monthly dividend, which will be paid on Thursday, July 28th. Investors of record on Friday, July 15th will be given a dividend of $0.0767 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Thursday, July 14th. Shaw Communications’s dividend payout ratio is 59.49%.

Hedge funds have recently added to or reduced their stakes in the stock. Power Corp of Canada acquired a new stake in Shaw Communications in the first quarter valued at $54,000. PenderFund Capital Management Ltd. raised its position in shares of Shaw Communications by 1,666.7% in the 4th quarter. PenderFund Capital Management Ltd. now owns 3,710 shares of the company’s stock worth $142,000 after acquiring an additional 3,500 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of Shaw Communications by 16.2% in the 4th quarter. Quadrant Capital Group LLC now owns 5,892 shares of the company’s stock worth $179,000 after acquiring an additional 821 shares in the last quarter. Cigna Investments Inc. New bought a new position in shares of Shaw Communications in the 4th quarter worth about $205,000. Finally, Atlas Capital Advisors LLC raised its position in shares of Shaw Communications by 24.9% in the 4th quarter. Atlas Capital Advisors LLC now owns 6,863 shares of the company’s stock worth $208,000 after acquiring an additional 1,367 shares in the last quarter. Institutional investors and hedge funds own 56.04% of the company’s stock.

About Shaw Communications (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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