Short Interest in George Weston Ltd. (OTCMKTS:WNGRF) Increases By 162.7%

Key Points

• George Weston Ltd. experienced a significant short interest increase of 162.7% in August, reaching 839,700 shares by the end of the month.
• The company's earnings per share for the latest quarter was $2.21, which fell short of analysts' expectations of $2.48, driven by a revenue of $10.89 billion compared to an expected $14.80 billion.
• As for analysts' ratings, George Weston is currently viewed with a consensus of "Moderate Buy", with various firms maintaining differing ratings from strong buy to hold.

George Weston Ltd. (OTCMKTS:WNGRF - Get Free Report) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 839,700 shares, a growth of 162.7% from the August 15th total of 319,700 shares. Approximately 0.5% of the shares of the stock are sold short. Based on an average trading volume of 2,900 shares, the short-interest ratio is presently 289.6 days. Based on an average trading volume of 2,900 shares, the short-interest ratio is presently 289.6 days. Approximately 0.5% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on WNGRF shares. BMO Capital Markets restated a "market perform" rating on shares of George Weston in a research report on Wednesday, July 30th. Scotiabank restated a "sector perform" rating on shares of George Weston in a research report on Thursday, August 21st. Finally, TD Securities restated a "buy" rating on shares of George Weston in a research report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy".

George Weston Trading Down 0.7%

Shares of OTCMKTS WNGRF traded down $0.44 during trading on Tuesday, reaching $61.07. The company had a trading volume of 139 shares, compared to its average volume of 6,055. George Weston has a 12 month low of $49.82 and a 12 month high of $67.16. The company has a quick ratio of 0.77, a current ratio of 1.37 and a debt-to-equity ratio of 1.16. The company's fifty day moving average price is $144.45 and its 200-day moving average price is $169.59. The stock has a market cap of $23.43 billion, a P/E ratio of 33.19 and a beta of 0.57.

George Weston (OTCMKTS:WNGRF - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $2.21 EPS for the quarter, missing the consensus estimate of $2.48 by ($0.27). George Weston had a net margin of 1.67% and a return on equity of 12.84%. The business had revenue of $10.89 billion for the quarter, compared to the consensus estimate of $14.80 billion.

George Weston Company Profile

George Weston Limited provides food and drug retailing, and financial services in Canada. The company operates through two segments, Loblaw Companies Limited (Loblaw) and Choice Properties Real Estate Investment Trust (Choice Properties). The Loblaw segment provides grocery, pharmacy and healthcare services, health and beauty products, apparel, general merchandise, and financial services.