Rogers Communication, Inc. $RCI Stake Trimmed by Value Partners Investments Inc.

Value Partners Investments Inc. trimmed its position in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 1.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,606,978 shares of the Wireless communications provider’s stock after selling 15,869 shares during the quarter. Rogers Communication accounts for approximately 3.4% of Value Partners Investments Inc.’s portfolio, making the stock its 14th largest holding. Value Partners Investments Inc. owned about 0.30% of Rogers Communication worth $49,632,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RCI. Dimensional Fund Advisors LP boosted its stake in shares of Rogers Communication by 98.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,025,580 shares of the Wireless communications provider’s stock worth $77,871,000 after buying an additional 1,004,963 shares during the last quarter. Bank of Nova Scotia lifted its holdings in Rogers Communication by 7.6% during the first quarter. Bank of Nova Scotia now owns 6,280,164 shares of the Wireless communications provider’s stock worth $241,467,000 after acquiring an additional 445,964 shares during the period. TD Waterhouse Canada Inc. lifted its holdings in Rogers Communication by 7.1% during the third quarter. TD Waterhouse Canada Inc. now owns 5,037,804 shares of the Wireless communications provider’s stock worth $155,491,000 after acquiring an additional 332,725 shares during the period. Swiss National Bank boosted its position in Rogers Communication by 27.0% in the first quarter. Swiss National Bank now owns 1,227,700 shares of the Wireless communications provider’s stock worth $47,146,000 after purchasing an additional 261,000 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in Rogers Communication by 277.6% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 317,533 shares of the Wireless communications provider’s stock valued at $12,208,000 after purchasing an additional 233,449 shares during the period. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Rogers Communication Stock Performance

Shares of NYSE RCI traded down $0.34 during trading on Monday, reaching $31.64. 1,961,410 shares of the stock traded hands, compared to its average volume of 1,263,640. Rogers Communication, Inc. has a 52-week low of $29.25 and a 52-week high of $41.14. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.55 and a quick ratio of 0.51. The company has a 50-day moving average of $34.30 and a 200-day moving average of $34.93. The stock has a market capitalization of $17.10 billion, a P/E ratio of 3.82, a price-to-earnings-growth ratio of 4.02 and a beta of 0.65.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Wednesday, July 22nd. The Wireless communications provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.03. Rogers Communication had a return on equity of 11.56% and a net margin of 27.54%. The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same quarter last year, the firm posted $1.14 EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. Analysts forecast that Rogers Communication, Inc. will post 3.24 EPS for the current fiscal year.

Rogers Communication Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Tuesday, September 8th were given a dividend of C$0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date was Tuesday, September 8th. Rogers Communication’s dividend payout ratio (DPR) is currently 17.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Desjardins raised Rogers Communication from a “hold” rating to a “buy” rating in a research report on Monday, September 14th. Barclays reduced their price target on shares of Rogers Communication from $36.00 to $35.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 13th. Wall Street Zen downgraded shares of Rogers Communication from a “hold” rating to a “sell” rating in a report on Saturday, October 3rd. Scotiabank reaffirmed an “outperform” rating on shares of Rogers Communication in a research report on Tuesday, July 7th. Finally, TD Securities reiterated a “buy” rating on shares of Rogers Communication in a research note on Thursday, July 23rd. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $35.00.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian communications and media company serving consumers, businesses and public-sector organizations across Canada. Its telecommunications operations provide wireless voice and data services, broadband internet, television, home phone and related connectivity products. The company also offers enterprise networking, cybersecurity, cloud and other information technology services.

Rogers operates a portfolio of media and sports properties, including Sportsnet, Citytv and OMNI Television, along with radio stations, digital platforms and publishing operations.