Polar Asset Management Partners Inc. Lowers Position in Rogers Communication, Inc. $RCI

Polar Asset Management Partners Inc. lessened its holdings in shares of Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 81.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,000 shares of the Wireless communications provider’s stock after selling 220,000 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Rogers Communication were worth $1,920,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of RCI. Manchester Capital Management LLC bought a new stake in Rogers Communication during the fourth quarter valued at approximately $26,000. Farther Finance Advisors LLC raised its position in shares of Rogers Communication by 107.4% during the 4th quarter. Farther Finance Advisors LLC now owns 786 shares of the Wireless communications provider’s stock valued at $30,000 after buying an additional 407 shares in the last quarter. Headlands Technologies LLC raised its position in shares of Rogers Communication by 143.2% during the 2nd quarter. Headlands Technologies LLC now owns 1,661 shares of the Wireless communications provider’s stock valued at $49,000 after buying an additional 978 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 acquiring an additional 683 shares during the last quarter. Finally, Advisory Services Network LLC bought a new stake in shares of Rogers Communication during the 3rd quarter worth $63,000. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Rogers Communication Stock Performance

NYSE RCI opened at $32.81 on Tuesday. The company has a 50-day simple moving average of $35.54 and a two-hundred day simple moving average of $36.53. The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 1.54. Rogers Communication, Inc. has a 12-month low of $31.38 and a 12-month high of $41.14. The firm has a market cap of $17.73 billion, a price-to-earnings ratio of 3.96, a PEG ratio of 4.08 and a beta of 0.64.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Wednesday, July 22nd. The Wireless communications provider reported $0.83 EPS 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 firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the previous year, the business earned $1.14 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. On average, equities analysts forecast that Rogers Communication, Inc. will post 3.27 EPS for the current year.

Rogers Communication Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 8th will be given a $0.50 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $2.00 annualized dividend and a yield of 6.1%. Rogers Communication’s payout ratio is presently 17.51%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RCI. TD Securities reissued a “buy” rating on shares of Rogers Communication in a research note on Thursday. Barclays dropped their price target on Rogers Communication from $37.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, July 16th. Desjardins reiterated a “hold” rating on shares of Rogers Communication in a research report on Thursday, April 23rd. Scotiabank reissued an “outperform” rating on shares of Rogers Communication in a report on Tuesday, July 7th. Finally, Weiss Ratings downgraded Rogers Communication from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $36.00.

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.