SJR - Shaw Communications Inc. Looks to Continue to Trade Above its Annual-High Share Price Today

Shaw Communications Inc. (NYSE:SJR) traded at a new 52-week high today of $31.41. Approximately 153,000 shares have changed hands today, as compared to an average 30-day volume of 334,000 shares.

Shaw Communications is a Canadian cable company that is one of the biggest providers of Internet, television, and landline telephone services in British Columbia, Alberta, Saskatchewan, Manitoba, and northern Ontario. In fiscal 2021, more than 75% of Shaw's total revenue resulted from this wireline business. Shaw is also now a national wireless service provider after acquiring Wind Mobile in 2016. Shaw has upgraded its wireless network, undertaken an aggressive pricing strategy, and significantly enhanced its spectrum holdings. As a smaller carrier, Shaw has favored bidding status in spectrum auctions, giving it a further boost in enhancing its wireless network. At the 2019 auction, Shaw added significant amounts of 600 MHz spectrum to the 700 MHz spectrum it is currently deploying.

Shaw Communications Inc. share prices have moved between a 52-week high of $31.41 and a 52-week low of $25.46 and are now trading 23% above that low price at $31.20 per share.

Shaw Communications Inc. (NYSE:SJR) is currently priced 5.7% above its average consensus analyst price target of $29.41.

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