Rogers Communications Inc. (NYSE:RCI) Shares Sold by Tobam

Tobam lessened its holdings in shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 53.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,995 shares of the Wireless communications provider’s stock after selling 9,197 shares during the period. Tobam’s holdings in Rogers Communications were worth $246,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in RCI. National Bank of Canada FI raised its holdings in Rogers Communications by 18.6% during the third quarter. National Bank of Canada FI now owns 6,239,553 shares of the Wireless communications provider’s stock worth $250,886,000 after purchasing an additional 977,924 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Rogers Communications by 371.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock valued at $203,334,000 after buying an additional 3,980,525 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Rogers Communications by 90.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,896,489 shares of the Wireless communications provider’s stock worth $115,775,000 after acquiring an additional 1,375,043 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Rogers Communications by 86.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,610,833 shares of the Wireless communications provider’s stock valued at $104,965,000 after acquiring an additional 1,211,482 shares during the last quarter. Finally, FMR LLC boosted its stake in Rogers Communications by 2.8% in the third quarter. FMR LLC now owns 2,496,298 shares of the Wireless communications provider’s stock valued at $100,372,000 after acquiring an additional 68,759 shares in the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Rogers Communications Trading Up 0.2 %

Shares of RCI stock opened at $26.95 on Friday. The company has a market capitalization of $14.40 billion, a P/E ratio of 11.61, a price-to-earnings-growth ratio of 1.03 and a beta of 0.69. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67. The business’s 50 day moving average is $30.72 and its two-hundred day moving average is $35.84. Rogers Communications Inc. has a twelve month low of $26.57 and a twelve month high of $46.39.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. Equities analysts forecast that Rogers Communications Inc. will post 3.58 EPS for the current year.

Rogers Communications Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 10th will be paid a dividend of $0.347 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.39 dividend on an annualized basis and a dividend yield of 5.15%. Rogers Communications’s dividend payout ratio (DPR) is 60.78%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Bank of America downgraded Rogers Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. Barclays reiterated an “equal weight” rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Finally, Morgan Stanley started coverage on shares of Rogers Communications in a research report on Monday, December 16th. They set an “underweight” rating on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $61.75.

Rogers Communications Company Profile

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.