Louisbourg Investments Inc. Has $9.90 Million Stake in Rogers Communication, Inc. $RCI

Louisbourg Investments Inc. decreased its holdings in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 7.0% during the fourth quarter, HoldingsChannel reports. The fund owned 261,833 shares of the Wireless communications provider’s stock after selling 19,687 shares during the quarter. Rogers Communication comprises about 1.8% of Louisbourg Investments Inc.’s investment portfolio, making the stock its 10th biggest holding. Louisbourg Investments Inc.’s holdings in Rogers Communication were worth $9,898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp boosted its holdings in shares of Rogers Communication by 6.0% in the third quarter. Van ECK Associates Corp now owns 5,889 shares of the Wireless communications provider’s stock worth $203,000 after acquiring an additional 334 shares during the period. Gold Investment Management Ltd. raised its stake in shares of Rogers Communication by 2.1% during the 3rd quarter. Gold Investment Management Ltd. now owns 29,233 shares of the Wireless communications provider’s stock valued at $1,007,000 after purchasing an additional 590 shares during the period. Public Sector Pension Investment Board raised its stake in shares of Rogers Communication by 1.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 37,181 shares of the Wireless communications provider’s stock valued at $1,101,000 after purchasing an additional 640 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Rogers Communication by 52.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider’s stock worth $59,000 after purchasing an additional 683 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in Rogers Communication by 7.0% during the 2nd quarter. Cerity Partners LLC now owns 11,007 shares of the Wireless communications provider’s stock worth $326,000 after purchasing an additional 724 shares in the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. TD Cowen reaffirmed a “buy” rating on shares of Rogers Communication in a report on Friday, January 30th. Morgan Stanley reissued an “underweight” rating on shares of Rogers Communication in a report on Wednesday, December 10th. Wall Street Zen lowered shares of Rogers Communication from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Barclays reaffirmed a “positive” rating and set a $37.00 price objective on shares of Rogers Communication in a research note on Tuesday, January 27th. Finally, Desjardins cut shares of Rogers Communication from a “buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Rogers Communication currently has a consensus rating of “Hold” and a consensus price target of $36.00.

Rogers Communication Price Performance

Rogers Communication stock opened at $35.06 on Friday. The stock has a market cap of $18.94 billion, a price-to-earnings ratio of 3.79, a PEG ratio of 5.06 and a beta of 0.72. The company has a quick ratio of 0.57, a current ratio of 0.61 and a debt-to-equity ratio of 1.48. The business has a 50-day simple moving average of $38.47 and a 200 day simple moving average of $37.56. Rogers Communication, Inc. has a 52 week low of $23.18 and a 52 week high of $41.14.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Thursday, January 29th. The Wireless communications provider reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.10. Rogers Communication had a return on equity of 14.22% and a net margin of 32.29%.The firm had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $5.94 billion. During the same quarter last year, the company posted $1.46 EPS. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, research analysts forecast that Rogers Communication, Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communication Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 10th were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, March 10th. This represents a $2.00 annualized dividend and a yield of 5.7%. Rogers Communication’s payout ratio is presently 15.89%.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.