Rogers Communications Inc. (NYSE:RCI) Shares Sold by Gold Investment Management Ltd.

Gold Investment Management Ltd. cut its stake in Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) by 7.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,232 shares of the Wireless communications provider’s stock after selling 1,520 shares during the period. Gold Investment Management Ltd.’s holdings in Rogers Communications were worth $774,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Cromwell Holdings LLC acquired a new position in Rogers Communications in the third quarter worth about $31,000. Ridgewood Investments LLC acquired a new position in shares of Rogers Communications in the 2nd quarter worth approximately $37,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Rogers Communications by 110.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock valued at $37,000 after acquiring an additional 522 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Rogers Communications during the 1st quarter valued at approximately $42,000. Finally, Grove Bank & Trust boosted its holdings in shares of Rogers Communications by 41.0% in the 3rd quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock valued at $42,000 after buying an additional 302 shares during the period. 45.49% of the stock is owned by institutional investors and hedge funds.

Rogers Communications Price Performance

RCI traded down $0.11 on Friday, reaching $36.65. The company had a trading volume of 18,443 shares, compared to its average volume of 735,133. The company has a market capitalization of $19.53 billion, a P/E ratio of 17.87, a PEG ratio of 1.13 and a beta of 0.69. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 3.35. The company has a fifty day moving average of $39.13 and a 200-day moving average of $38.77. Rogers Communications Inc. has a one year low of $35.55 and a one year high of $48.19.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Thursday, October 24th. The Wireless communications provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.35. The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $3.79 billion. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the business earned $0.95 earnings per share. As a group, equities research analysts anticipate that Rogers Communications Inc. will post 3.55 earnings per share for the current year.

Rogers Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be given a $0.3611 dividend. This represents a $1.44 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend is Monday, December 9th. Rogers Communications’s dividend payout ratio (DPR) is presently 72.20%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Canaccord Genuity Group cut shares of Rogers Communications from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. BMO Capital Markets upped their price objective on Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. TD Securities boosted their price target on shares of Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Canaccord Genuity Group reiterated a “hold” rating and issued a $57.00 price objective (down from $59.00) on shares of Rogers Communications in a research report on Thursday, July 25th. Finally, StockNews.com upgraded shares of Rogers Communications from a “sell” rating to a “hold” rating in a research report on Thursday, July 11th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” 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.