QV Investors Inc. Sells 31,880 Shares of Rogers Communication, Inc. $RCI

QV Investors Inc. lessened its holdings in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 3.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 818,963 shares of the Wireless communications provider’s stock after selling 31,880 shares during the period. Rogers Communication accounts for approximately 2.0% of QV Investors Inc.’s holdings, making the stock its 18th biggest position. QV Investors Inc. owned about 0.15% of Rogers Communication worth $26,634,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Manchester Capital Management LLC purchased a new stake in shares of Rogers Communication during the fourth quarter worth about $26,000. Farther Finance Advisors LLC raised its stake in 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 purchasing an additional 407 shares during the period. Headlands Technologies LLC lifted its holdings in Rogers Communication by 143.2% in the 2nd quarter. Headlands Technologies LLC now owns 1,661 shares of the Wireless communications provider’s stock worth $49,000 after purchasing an additional 978 shares in the last quarter. Advisory Services Network LLC purchased a new position in Rogers Communication in the 3rd quarter worth approximately $63,000. Finally, Danske Bank A S bought a new position in Rogers Communication in the 3rd quarter worth approximately $64,000. 45.49% of the stock is owned by institutional investors.

Rogers Communication Stock Down 0.0%

NYSE RCI opened at $36.58 on Monday. The stock has a 50 day moving average price of $34.47 and a 200-day moving average price of $36.33. Rogers Communication, Inc. has a one year low of $31.38 and a one year high of $41.14. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.51 and a current ratio of 0.55. The company has a market capitalization of $19.76 billion, a P/E ratio of 4.42, a P/E/G ratio of 4.56 and a beta of 0.64.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results 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. The company had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.91 billion. Rogers Communication had a net margin of 27.54% and a return on equity of 11.56%. Rogers Communication’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.14 earnings per share. As a group, equities analysts predict that Rogers Communication, Inc. will post 3.27 EPS for the current fiscal year.

Rogers Communication Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 8th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.5%. Rogers Communication’s payout ratio is 17.51%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Raymond James Financial initiated coverage on shares of Rogers Communication in a research report on Wednesday, July 15th. They set an “outperform” rating on the stock. Wall Street Zen upgraded shares of Rogers Communication from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. TD Securities reaffirmed a “buy” rating on shares of Rogers Communication in a research note on Thursday, July 23rd. Weiss Ratings raised shares of Rogers Communication from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 14th. Finally, Scotiabank reiterated an “outperform” rating on shares of Rogers Communication in a report on Tuesday, July 7th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Rogers Communication has an average rating of “Hold” and a consensus price target of $36.00.

Rogers Communication 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.